Northam Platinum Plans to Buy More Assets

Mineweb reported that Northam Platinum Ltd. (JSE:NHM) plans to seek more assets after buying Aquarius Platinum Ltd.’s (ASX:AQP) Everest operation.

As quoted in the market news:

Profit excluding one-time items was 355.3 million rand ($30 million), or 89 cents a share, for the six months ended Dec. 31 from a loss of 96 million rand, or 25 cents a share, a year earlier, Johannesburg-based Northam said in a statement Friday. As part of a strategic review announced in August, the company may acquire more assets as it diversifies away from being a single-site operation, it said.

The company stated:

Northam will continue to assess opportunities which may arise from restructuring in the sector and which fits its objective of growing down the industry cost curve.

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