Northam Platinum will struggle to cope with a prolonged stoppage at its Limpopo mine according to mining analysts.

The platinum miner has seen work at its mine cease - at an estimated cost of 1,050 ounces a day - since a fire raged through the underground mine last Monday, with investigators now examining the site.

With the chief inspector of mines, May Hermanus, saying that a comprehensive investigation would be staged ahead of any return to production, the prospects for Northam appear bleak.

"Previously there have been about three deaths at this mine. We will also look at the causes of those deaths, the escape routes, refuge bays and testing of the equipment underground," explained Hermanus to South Africa's News24.

It is a prospect that mining analysts told I-Net Bridge could be devastating for the firm.

"The problem with Northam is that it has just one mine, with two shafts, while Angloplat and Impala Platinum have a number of mines and are more diversified," an analyst explained.

"The effect of the closure on Northam's earnings will depend on how long the company's mine is closed. Northam's mine is very deep, it is the deepest platinum mine in South Africa and it also has a difficult ore body to mine. Northam also has a higher cost of production because it is so deep," he added.

The fallout from the mining accident has already been felt in the company's share price, which slipped 3.2 per cent on the news.