Report on Northam Mine Accident

Briefing note for shareholders and the media

Northam Platinum Mines Limited today (7 January 2005) established that a Department of Minerals and Energy report issued to the media yesterday (6 January 2005) relating to the underground fire at Northam’s mine near Thabazimbi is a preliminary report, dated November 2004. This report contains various incorrect statements and findings. These matters will be addressed at a formal inquiry and inquest which will be held in due course.

The report records provisions of an order which was issued by the Principal Inspector on 21 September 2004, in terms of which the mine was closed. The requirements of the order were complied with shortly after the accident, whereafter production resumed in all areas, except the decline section (below 12 level which was affected by the accident). At present the decline section is being rehabilitated.

Northam is committed to continued support for a fully transparent, investigative process.

Distributed by Russell & Associates

James Duncan or Charmane Russell
Tel: 011 880 3924