South African platinum miner Northam has announced it expects to see a huge increase in its earnings for the second half of 2005.

Ahead of its interim results, to be posted on February 2nd, the company stated that it anticipates headline earnings per share to swell by 490 to 500 per cent for the six-month period to December 31st.

The company stated that the soaring price of metals has helped push up its earnings, along with higher sales volumes.

Northam stated that its sales volumes for the second half of 2005 increased substantially due to the fact that it has now overcome the production problems it had suffered since a fire at an underground mine in September 2004 killed nine miners and forced the firm to shut it down.

That hit both production and profits at South Africa's fourth-largest platinum miner, but this latest announcement has helped the company to see its shares rise by 8.77 per cent to their highest level in over three years.


Ÿ Adfero Ltd