Mining Journal:What are your core leadership values?
Paul Dunne: I believe it is very important to instill confidence in the team.
This year Northam Platinum completed a combined empowerment transaction and capital raise that resulted in an injection of R4 billion (US$289 million) in cash onto the balance sheet, while the company remains debt-free. In addition to the Zondereinde mine, with a 21-year life, Northam also owns the large Booysendal property on the Eastern Limb, which contains 100 million ounces of platinum group metals (PGMs). The company is able, in a difficult market, to grow its production profile down the cost curve, essentially migrating away from deep-level, narrow-stoping to a mechanised board-and-pillar type operation.
The effect of the virus on demand is constant but its effect on the cost base is variable