This market tracks PGM Concentrate production at the facility level.
Facility: Northam Platinum operations in South Africa
Basket type: PGM Concentrate (contains platinum, palladium, rhodium, and other PGMs)
Coverage period: Trailing 12 months (TTM) ending 2026-12-31
Settlement delay: 2 months (observation date = March 1, 2027)
Baseline (2026): 391,200 ozt
Data source: Official company production disclosures and quarterly reports
Resolution Criteria
Resolve YES iff: Latest Delayed (2m) Trailing (12m) result for northam_zondereinde_pgm_concentrate_ttm_ozt as of March 1, 2027 is ≥ 391,200 ozt. If PGM Concentrate production ≥ 391,200 ozt, resolve YES. Otherwise NO.
1,000Northam Platinum's Zondereinde operations face the dual-edged reality confronting South African PGM producers. The LPPM exclusion of Russian refineries pushed palladium prices 11% higher [https://news.metal.com/newscontent/101800575], creating a favorable pricing environment that should support production economics. However, South Africa's mining sector declined 9.6% in February [https://news.metal.com/newscontent/103298800], reflecting broader operational challenges including power supply constraints, labor issues, and aging infrastructure. For Zondereinde to meet 2027 concentrate production targets, Northam must successfully navigate these sector-wide headwinds despite improved palladium fundamentals.