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Northam Platinum buys Eland mine from Glencore

Business Day | February 26, 2017 | 5:52 pm Base Metals Africa Platinum

Northam Platinum posts profit dip as costs surge

Zondereinde, the world’s deepest platinum mine. (Image courtesy of Northam Platinum.)

Northam Platinum’s strategy of buying additional mines, as its strives to become a 1-million ounce a year platinum group metals producer, netted it Glencore’s Eland Platinum mine for R175m cash. As part of the agreement, Glencore will have exclusive rights to market and sell all the chrome Northam produces in exchange for the sale of its Eland mine and a concentrator that can treat 250,000 tonnes of ore a month.