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Platinum Group Metals News

Five mineral value-chains prioritised in South Africa’s draft beneficiation plan

By: Terence Creamer The Mineral Beneficiation Action Plan (MBAP), which is currently in draft form, should be finalised by the end of March 2015, the Department of Trade and Industry (DTI) has confirmed. The department is leading the drafting process, which also involves the National Treasury, the Economic... 

Ivanhoe platinum project prepares for site work resumption

By: Martin Creamer Preparations have begun for a resumption of site work at Ivanhoe’s platinum project near Mokopane in Limpopo province, with the construction of the initial production shaft of the planned underground mine the focal point of the first phase of development of an initiative that has been decades in... 

Ivanhoe platinum project prepares for site work resumption
Photo by Duane Daws
Ivanhoe's Robert Friedland

Jubilee gains full control of Pollux, starts trial processing of platinum-containing material

By: Creamer Media Reporter Dual-listed Jubilee Platinum has entered into a deal that will see it take full ownership of subsidiary company Pollux, which holds the platinum group metal (PGM) processing rights to the Dilokong chromite mine (DCM) platinum recovery project, in Limpopo. Jubilee would acquire Emerald Panther... 

Top six platinum producers launch investment promotion body

By: Reuters Six of the world's biggest platinum producers have launched a dedicated body, the World Platinum Investment Council, to promote the precious metal as an investment vehicle, the new group said in a statement on Tuesday. Anglo American Platinum, Aquarius Platinum, Impala Platinum, Lonmin, Northam... 

Tharisa processing plant resumes operations

By: Natasha Odendaal A Section 54 order imposed on a processing plant at Tharisa’s platinum-group metals and chrome mine has been lifted. In an update to shareholders on Monday, the JSE-listed mining company said operations at the Voyager processing plant on the western limb of the Bushveld Igneous Complex had resumed. 

Atlatsa delivers record Q3 performance

By: Leandi Kolver Platinum miner Atlatsa Resources achieved record quarterly performance in the three months ended September 30, narrowing its net loss by 96.4% year-on-year to C$560 000 from C$15.45-million in the quarter ended September 2013. Atlatsa CEO Harold Motaung said this performance was driven by higher... 

Q3 gold demand, supply down – World Gold Council

By: Martin Creamer Both gold demand and supply were down in the three months to September 30, the World Gold Council said on Thursday. The council’s latest gold demand trends report stated that third-quarter (Q3) gold demand had declined by 2% to 929 t and supply had fallen by 7% to 1 048 t on recycling’s lowest... 

Q3 gold demand, supply down – World Gold Council
World Gold Council market intelligence head Alistair Hewitt

Largo Resources receives formal operating licence for Brazil flagship

By: Henry Lazenby TSX-listed Largo Resources has received a formal operating licence for its flagship Maracas Menchen vanadium mine, in Brazil. The company said on Tuesday that it had been operating on a preliminary operating licence, which it received in May that allowed it to start the production ramp-up and to... 

Bauba awarded chrome mining permit, acqusition conditions fulfilled

By: Leandi Kolver JSE-listed Bauba Platinum subsidiary Bauba A Hlabirwa Mining Investments has been awarded a mining permit for the mining of chrome ore and, accordingly, the last condition precedent for its acquisition of a 60% stake in the prospecting rights on the farms of Moeijelik 412KS and Waterkop 113KT, in... 

Platinum exchange could benefit SA economy, advance beneficiation objectives

By: Leandi Kolver If South Africa was serious about platinum beneficiation it had no choice but to put in place a platinum exchange, investment company Pan-African Capital Holdings CE Dr Iraj Abedian said on Tuesday. Speaking at a workshop convened by the Mapungubwe Institute for Strategic Reflection (Mistra),... 

Platinum exchange could benefit SA economy, advance beneficiation objectives

Struggling miners see silver lining in FX, cheaper oil

By: Reuters Global mining companies stung by slumping commodity prices are looking forward to a modest consolation prize - weaker local currencies and falling oil prices that will help trim their costs. Metal prices have plunged to multi-year lows as the US dollar strengthened against a basket of... 

Platinum industry to promote investment demand for metal

By: Reuters An industry body to promote investment demand for platinum should be set for launch late this year or early 2015 as South African producers try to boost sales in the face of falling prices, industry and banking sources said. The new body, called the World Platinum Investment Council, will most... 

Platinum industry to promote investment demand for metal

Lonmin shares rise on R2bn cost-cut plan with worker help preventing shaft shut

By: Martin Creamer The shares of platinum major Lonmin rose 6% in Johannesburg on Monday following the company’s presentation of expectation-exceeding production ramp-up, worker help in preventing the closure of a troubled shaft and the company going all out to keep all excess workers busy as it reaped the benefit... 

Lonmin shares rise on R2bn cost-cut plan with worker help preventing shaft shut
Photo by Duane Daws
Lonmin CEO Ben Magara

Eastplats stock jumps 147% on agreeing to Chinese asset buyout

By: Henry Lazenby South Africa-focused Eastern Platinum’s (Eastplats’) TSX-listed stock on Friday jumped as much as 147% following a temporary trading halt to announce a $225-million asset buyout by Chinese firm Hebei Zhongbo Platinum. Vancouver-based Eastplats’ main asset was platinum-group metals (PGMs)... 

Eastplats stock jumps 147% on agreeing to Chinese asset buyout
Photo by Eastern Platinum
Crocodile River Mine, South Africa

Ex PM Blair to hit Mining Indaba high note

By: Martin Creamer Former British Prime Minister Tony Blair is to present a keynote address at the 2015 Mining Indaba, the world’s largest mining investment event, which is scheduled to take place in Cape Town from February 9 to 12. The organisers of the yearly Investing in African Mining Indaba announced on... 

Ex PM Blair to hit Mining Indaba high note
Photo by Bloomberg
Tony Blair

Worker killed in accident at Tharisa mine processing plant

By: Creamer Media Reporter An employee was killed in an accident at the Voyager processing plant at the Tharisa platinum-group metals and chrome mine, on the western limb of the Bushveld Igneous Complex, on Wednesday. The accident occurred during routine maintenance and all operations at the Genesis and Voyager plants had... 

Ivanhoe picks up shovels at Platreef project after S Africa OKs mining right

By: Henry Lazenby South Africa’s Department of Mineral Resources (DMR) has executed the mining right for Africa-focused project developer Ivanhoe Mines' multi-metal Platreef project, near Mokopane, on the Northern Limb of the country’s mineral-rich Bushveld Complex. The mining right, which would allow Ivanhoe to... 

Ivanhoe picks up shovels at Platreef project after S Africa OKs mining right

Technology slashes power use at Glencore's huge S African chrome smelter 

By: Martin Creamer The Lion ferrochrome smelter owned and operated by the Glencore Merafe Chrome Venture, uses 37% less electricity than conventional ferrochrome processes to produce the equivalent volume of ferrochrome. In addition, the smelter needs far less coke than conventional smelters as well as using... 

Technology slashes power use at Glencore's huge S African chrome smelter
Photo by Duane Daws
Lion's Andre van Zyl and Martin Creamer

Glencore's Q3 ferrochrome, coal, oil, copper production up

By: Martin Creamer The South Africa-centred ferrochrome production of diversified miner Glencore lifted in the third quarter, as did its global coal, oil and copper production. The London-, Hong Kong- and now also Johannesburg-listed global mining and marketing company, headed by CEO Ivan Glasenberg, said that its... 

Glencore's Q3 ferrochrome, coal, oil, copper production up
Photo by Duane Daws
Glencore CEO Ivan Glasenberg

Middelburg earnings to fund Jubilee’s Dilokong platinum acquisition plans

By: Natalie Greve Aim-listed Jubilee Platinum’s Middelburg operation has continued its upward production trajectory, delivering 950 t of metal in October – exceeding September’s 840 t record by 13%. The company said in a trading update on Monday that Middelburg’s operational performance provided the group the... 

PTM terminates $195m loan facility with banks

By: Natalie Greve Toronto-listed Platinum Group Metals (PTM) has terminated the mandate for a term loan facility entered into with a syndicate of lenders and announced on November 11, 2013. The group said, at the time, that Barclays Bank, Absa Corporate and Investment Bank, Caterpillar Financial and Societe... 

Gold recoverer Goldplat turning attention to platinum opportunity

By: Martin Creamer Gold recovery company Goldplat, the South African operations of which generated an operating profit in the three months to September 30, is taking steps to diversify into platinum group metal (PGM) recovery. The London-AIM-listed company, which serves companies including AngloGold Ashanti,... 

Gold recoverer Goldplat turning attention to platinum opportunity
Goldplat COO Hansie van Vreden

300 a year doing mechanised mining courses at Wits centre

By: Martin Creamer Three hundred people a year are doing courses in mechanised mining offered by the University of the Witwatersrand Centre for Mechanised Mining Systems (CMMS). CMMS director Dr Declan Vogt, who was interviewed by Mining Weekly Online at the university, sees one of the centre’s main roles as... 

300 a year doing mechanised mining courses at Wits centre
Photo by Duane Daws
CMMS director Declan Vogt

Strike-hit Impala’s platinum output down 25%, unit costs up 62%

By: Martin Creamer Strike-hit mining company Impala Platinum (Implats) has produced 25.5% fewer platinum ounces in the three months to September 30 than in the corresponding period last year. In line with reduced platinum production, group unit costs rose 62% to R26 698/oz of platinum, compared with R16 488/oz in... 

Strike-hit Impala’s platinum output down 25%, unit costs up 62%
Photo by Duane Daws
Implats CEO Terence Goodlace

Sylvania posts record quarterly PGM output

By: Natalie Greve Low-cost platinum group metal (PGM) processor and developer Sylvania Platinum has reported a sixth consecutive quarter of continuous growth, lifting output for the quarter ended September 30 to a record 16 639 oz of PGMs. This was an 8% improvement on the previous quarter's 15 435 oz, with the... 

South Africa platinum town, wider economy still hurting from strike

By: Reuters Mamsi Ngobeni sat alongside the main road of the South African platinum belt town of Marikana, hunched over a table with a pile of onions, apples, loose cigarettes and tomatoes. By just after noon she had sold about R20 ($1.8245) worth of goods, well down from what she said was her usual R1 000... 

South Africa platinum town, wider economy still hurting from strike

Aquarius posts Q1 profit on back of higher production, lower costs

By: Leandi Kolver Platinum miner Aquarius Platinum on Friday reported a net profit of $5.21-million for the three months ended September 30 compared with a loss of $10.19-million during the prior corresponding period. This increase was driven by a 3% rise in production, 5% higher dollar prices, lower costs and... 

Aquarius posts Q1 profit on back of higher production, lower costs
Aquarius' Everest mine

Northam Platinum’s funded R6.6bn BEE deal

By: Creamer Media Reporter Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about Northam Platinum’s fully funded R6.6-billion black economic-empowerment deal. 

Northam Platinum’s funded R6.6bn BEE deal

Less Eskom coal, fewer S African diamonds, less refined platinum, lower iron-ore sales – Anglo

By: Martin Creamer Diversified mining company Anglo American on Thursday reported 12% lower coal production for South Africa’s State electricity utility Eskom, 31% less refined platinum production, 4% lower iron-ore exports and fewer diamond carats from South African diamond mines, in the three months to September... 

Less Eskom coal, fewer S African diamonds, less refined platinum, lower iron-ore sales – Anglo
Photo by Duane Daws
Anglo CEO Mark Cutifani

Amplats lifts FY output guidance on lower Q3 post-strike ramp-up losses

By: Creamer Media Reporter The post-strike ramp-up in production at Anglo American Platinum’s (Amplats’) Rustenburg, Union and Amandelbult mines was completed a month ahead of schedule, with normal output having resumed by September. In its third-quarter production report, released on Thursday, the platinum miner noted... 

Waterberg JV PFS on track

By: Leandi Kolver The prefeasibility study (PFS) for TSX- and NYSE-listed Platinum Group Metals’ (PTM’s) Waterberg Joint Venture (JV) project on the northern limb of the Bushveld Complex is on track, with completion targeted for the second quarter of next year, PTM said on Wednesday. The company noted that an... 

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