Key features F2015

Corporate developments

R6.6 billion deal with Zambezi Platinum

Empowerment status secured for 10 years with R6.6 billion deal with Zambezi Platinum
Northam is 35.4% HDSA- owned, including the existing Toro Trust
Successful capital raising of R4.6 billion
BEE transaction unlocks strategic growth path – indicated by the acquisition of Everest for R450 million
Acquisition of an additional 20% of Northam Chrome Producers, now a wholly- owned subsidiary

Financial impacts

9.9% recovery in operating margin (F2014: 1.2%)

PGM fundamentals remain challenging with weak global macro- economic conditions and declining commodity prices
Group sales revenue grew by 13% to more than R6 billion
Operating profits reach R596 million
Year on year the South African currency weakened by 10.6% against the US dollar, averaging
R11.45/US dollar
Group unit cash costs increased by 6.7%
Recovery in operating margin to 9.9% (F2014: 1.2%)
Emphasis on cost containment across the group

Operations

86% Booysendal concentrator recoveries

Booysendal North on track to reach steady state production in H1 of F2016
Zondereinde life of mine extended to 21 years
Future production at Zondereinde planned at a UG2 65: Merensky 35 ratio
Additional processing capacity in progress at Zondereinde
Booysendal concentrator achieves recoveries of 86%
Progress in plans to exploit Merensky reef at Booysendal
Good safety performance at both operations

Socio-economic impacts

10 080 employees in total

10 080 employees in total
R1.3 billion paid in wages, salaries and benefits
Three-year wage agreement signed
Group pays R392 million in taxes
Development of comprehensive housing and accommodation strategy