Northam Holdings: Mining that matters
Annual integrated report 30 June 2022
Northam H
Northam Holdings: Mining that matters
Annual integrated report 30 June 2022
Northam H
Mining that matters
Mining and processing of Platinum Group Metals (PGMs) is complex. The conversion of mined ore to saleable metal involves several stages of metallurgical processing.
Northam Platinum Holdings Limited (Northam Holdings, Northam or the group) is an integrated, mine to market PGM producer. Integral to our ongoing production growth strategy has been our investment in expanding the capacity and flexibility of our downstream metallurgical processing facilities. This is enabling us to treat growing production from our own operations together with that of our PGM recycling business, as well as to offer downstream processing services to other producers.
Our metallurgical operations are located at the Zondereinde mine, and comprises smelter and base metal removal facilities. Our main smelter facility boasts two independent furnaces, furnace 1 and furnace 2, which treat primary concentrates from mining. Each furnace has dedicated upfront dryers, and two separate
and interchangeable iron-reduction convertors. In addition, we have recently commissioned a dedicated recycling smelter facility comprising two furnaces and their supporting infrastructure.
The smelter facilities produce convertor matte, which feeds our base metal removal plant, wherein nickel is recovered as a nickel sulphate precipitate, and pure copper plate is extracted in an electro-winning circuit. The remaining high-grade PGM concentrate at this stage is shipped to our toll refiners for separation into final saleable metals. We sell these metals to our customer base.
The photograph on the front cover of this report shows molten matte being tapped from our number 1 smelter furnace which was rebuilt and upgraded during the first half of this financial year.
oldings Annual integrated report 2022
Contents
Introduction
4 Who is Northam?
8 Introducing our report
Business overview
10 Our business model
- The evolution of our business since 2015
- The year at a glance
- CEO Q&A - A recap on our strategy and beliefs
- Our investment in RBPlat
- Cash impact of the Composite Transaction and our investment in RBPlat
Our operations
24 Our growing operations
- Mineral Resources and Mineral Reserves
- New shaft access world record
- Growth on track
- Full build on target
- Upgrading for the future
- Our key stakeholder relationships
- Women in mining - A message from Paul Dunne
- Our contribution to our stakeholders
Governing our business
- A message from our independent chairman
- In memory of David Brown
- Board of directors
- Executive committee
Material issues
- The ongoing impact of COVID-19
- Material issues
- Managing risks and opportunities
- The Buttonshope Conservancy Trust
Other information
- Analysis of Northam Holdings shareholders
- Administration and contact information
Our reporting suite
Our integrated report is supplemented by a full suite of online publications, which caters for the diverse needs of our broad stakeholder base as part of our comprehensive integrated reporting. These can be accessed on our website at www.northam.co.za
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We use the capitals concept to convey quantitative and qualitative information. The degree and nature of the impact that our material issues have upon our business and the various capitals have also been considered throughout the report.
Capitals
Financial | Intellectual | Natural |
Human | Manufactured | Social |
Stakeholders
Communities | Government and | Suppliers of goods |
regulatory authorities | and services | |
Customers | Industry associations | Unions |
Employees | Investors and providers | |
of funding | ||
Board and committees
A | Audit and risk | I | Investment committee | R | Remuneration committee |
committee | |||||
B | IT | S | Social, ethics, human | ||
Board of directors | IT steering committee | resources and | |||
transformation committee | |||||
E | Executive committee | M | Management review | ||
committees | |||||
H | Health, safety and | N | Nomination committee | ||
environmental committee |
Links
Refers to other pages in this report
Refers to supporting documents on our website: www.northam.co.za
COVID-19 issue
Northam Holdings: | Northam Holdings: | Northam Holdings: | ||
Mining that matters | Mining that matters | Mining that matters | ||
Annual integrated report | Annual financial statements | Summarised financial results | ||
30 June 2022 | 30 June 2022 | 30 June 2022 | ||
Annual integrated report
Prepared in accordance with:
- International Framework of the International Integrated Reporting Council (IIRC)
- International Financial Reporting Standards (IFRS)
- South African Companies Act No. 71 of 2008, as amended (Companies Act)
- Global Reporting Initiative (GRI) standards
- South African Companies Regulations, 2011 (Companies Regulations)
- JSE Limited Listings Requirements
- JSE Debt Listings Requirements
- King IV Report on Corporate Governance for South Africa, 2016 (King IV™)
Approved by the board of directors
Annual financial statements
Prepared in accordance with:
- IFRS
- Interpretations issued by the IFRS Interpretations Committee
- International Accounting Standards (IAS)
- The South African Institute of Chartered Accountants (SAICA) Financial Reporting Guides
- Financial Reporting Guidelines as issued by the Accounting Practices Committee
- Financial Pronouncements as issued by the Financial Reporting Standards Council
- Companies Act
- Companies Regulations
- JSE Limited Listings Requirements
- JSE Debt Listings Requirements
- King IV™
Approved by the board of directors, and includes the chief executive officer and finance director responsibility statement, as well as the company secretary certificate
Summarised financial results
Prepared in accordance with:
- IFRS
- Interpretations issued by the IFRS Interpretations Committee
- IAS
- SAICA Financial Reporting Guides
- Financial Reporting Guidelines as issued by the Accounting Practices Committee
- Financial Pronouncements as issued by the Financial Reporting Standards Council
- Companies Act
- JSE Limited Listings Requirements
- JSE Debt Listings Requirements
Approved by the board of directors
Northam Holdings: | Northam Holdings: | Northam Holdings: | ||
Mining that matters | Mining that matters | Mining that matters | ||
Corporate governance report | Mineral Resources and Mineral Reserves statement | Notice of the 2022 Annual General Meeting | ||
30 June 2022 | as at 30 June 2022 | |||
Corporate governance report
Prepared in accordance with:
- International Framework of the IIRC
- Companies Act
- Companies Regulations
- JSE Limited Listings Requirements
- JSE Debt Listings Requirements
- King IV™
Approved by the board together with the chairpersons of the respective committees for their reports
Mineral Resources and Mineral Reserves statement
Prepared in accordance with:
- South African Code for Reporting of Exploration Results, Mineral Resources and Mineral Reserves 2016 (the SAMREC Code (2016))
- JSE Limited Listings Requirements
Signed off by the Lead Competent Person
Notice of the 2022 Annual General Meeting
Prepared in accordance with:
- Companies Act
- Companies Regulations
- JSE Limited Listings Requirements
- JSE Debt Listings Requirements
- Company's Memorandum of Incorporation (MOI)
- King IV™
Approved by the board and company secretary
Northam Holdings: | ||
Mining that matters | ||
Northam Holdings: | Sustainability report 2022 | |
Mining that matters | ||
Remuneration report | ||
30 June 2022 | ||
Remuneration report
Prepared in accordance with:
- International Framework of the IIRC
- Companies Act
- JSE Limited Listings Requirements
- King IV™
Approved by the chairperson of the remuneration committee
Sustainability report
Prepared in accordance with:
- Core requirements of Global Reporting Initiative (GRI) Standards
Approved by the health, safety and environmental committee
These reports are available on our website
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Northam Platinum Holdings Ltd. published this content on 26 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 August 2022 05:20:02 UTC.