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Platinum Group Metals News

Cashless home loans for migrant mineworkers on way – Teba

By: Martin Creamer     Updated 7 hours ago A system of providing incremental cashless home loans to migrant mineworkers living in distant areas is being implemented. Teba CEO Dr Graham Herbert, who spoke to Mining Weekly Online in the attached video interview on potential improvements to the much-criticised migrant labour system, says... 

Johnson Matthey sells gold and silver refining unit to Japan's Asahi

By: Reuters Speciality chemicals firm Johnson Matthey has agreed to sell its gold and silver refining business to Japan's Asahi Holdings for £118-million in cash, the British firm said on Monday. The business, which employs around 340 people, is a refiner of primary and secondary gold and silver, and has... 

Chrome, platinum prices likely to recover – Tharisa

By: Martin Creamer The price of chrome concentrate and the basket price of platinum group metals should recover in 2015, which could mean fourth-quarter profit for the JSE-listed Tharisa Minerals should it achieve its number-one priority of steady state production. Tharisa CEO Phoevos Pouroulis told Mining Weekly... 

Chrome, platinum prices likely to recover – Tharisa
Phoevos Pouroulis

Waning investor confidence, weak commodity prices among factors limiting growth of African mining sector

By: Jade Davenport Along with the Arctic, sub-Saharan Africa remains the most underexplored and highly prospective mineralised region on earth. However, despite its ‘open for business’ approach and myriad investment opportunities – in terms of greenfield and brownfield projects across the commodity spectrum –... 

Waning investor confidence, weak commodity prices  among factors limiting growth of African mining sector

North American Palladium expects to hit full-year guidance

By: Henry Lazenby Canadian palladium producer North American Palladium (NAP) on Thursday reported strong output from its Lac des Iles (LDI) mine, in Thunder Bay, Ontario, for the fourth-quarter so far, prompting it say it will reach its full-year guidance. NAP on Thursday reported that output for October and... 

Waterberg JV prefeasibility study to be completed in first quarter of 2015

By: Zandile Mavuso Vancouver-based Platinum Group Metals (PTM) has scheduled to complete the prefeasibility study (PFS) for its Waterberg joint venture (JV) project in the first quarter of 2015. 

Impala Platinum selling shares to workers in R1.1bn deal

By: Martin Creamer South Africa’s second-largest platinum mining company is selling shares in the company’s primary operational subsidiary to employees in a R1.1-billion deal. The JSE-listed Inplats said on Thursday that it had concluded a vendor-financed equity transaction with Impala Platinum Limited, which owns... 

Impala Platinum selling shares to workers in R1.1bn deal
Photo by Duane Daws
Terence Goodlace

Wesizwe reaches underground milestone

By: Natasha Odendaal RUSTENBURG (miningweekly.com) – Chinese-backed emerging platinum producer Wesizwe Platinum has reached another milestone at its flagship Bakubung platinum mine project, which is already two-and-a-half years ahead of schedule. Despite facing tensions in the platinum belt during the year, continual... 

Wesizwe reaches underground milestone

Largo commissions study to examine Maracas Menchen’s platinum potential

By: Henry Lazenby Vanadium producer Largo Resources on Wednesday announced that it had commissioned a prefeasibility study to examine the potential to produce saleable platinum concentrates at its Maracas Menchen mine, in Bahia, Brazil. As part of the current vanadium production process, run-of-mine platinum... 

Mining on cusp of business transformation – Dassault Systèmes

By: Martin Creamer The mining industry is on the cusp of business transformation similar to what manufacturing experienced decades ago, says Dassault Systèmes VP natural resources Marni Rabassó. During the time that mining was able to ride the commodity price curve without feeling too much pressure to change, the... 

Mining on cusp of business transformation – Dassault Systèmes
Marni Rabassó

Ivanhoe signs up more than 650 employees for Platreef project site work

By: Henry Lazenby Africa-focused Ivanhoe Mines has employed more than 650 men and women at its flagship Platreef project, on South Africa’s Bushveld Igneous Complex’s Northern Limb, in Limpopo, with residents of Mokopane holding more than 500  jobs, representing 78% of the total workforce. After starting site... 

Amplats to meet FY guidance as asset offload advances

By: Natalie Greve Apart from the period in which Anglo American Platinum (Amplats) was impacted by strike action by the Association of Mineworkers and Construction Union, the group said in an update on Tuesday that it had improved the underlying operational performance of key assets in 2014. Following what it... 

Anglo striving to end SA coal productivity lag, eyeing 40% iron-ore HQ cut

By: Martin Creamer Hugely lagging productivity in Anglo American’s South African thermal coal operations is coming under intense scrutiny and head office roles at Kumba Iron Ore may be cut by 40%. In response to Mining Weekly Online query on the accuracy of the claim that productivity on Anglo’s coal-mines in South... 

Anglo striving to end SA coal productivity lag, eyeing 40% iron-ore HQ cut
Photo by Duane Daws
Mark Cutifani

Implats expects more than 20% lower HEPS, EPS for H2

By: Chantelle Kotze Platinum miner Impala Platinum (Implats) expects more than 20% lower headline earnings per share (HEPS) and basic earinings per share (EPS) for the six months ended December 31 compared with the prior corresponding period. 

Implats expects more than 20% lower HEPS, EPS for H2

Lonmin Furnace One shutdown not expected to affect production

By: Chantelle Kotze Platinum-mining company Lonmin expects the repair of its Number One furnace to take about three months, following its shutdown without incident after a leak of molten furnace matte was detected. 

Lonmin, AMCU celebrate finalisation of landmark BEE equity deal

By: Natalie Greve Lonmin has brought to a close three landmark black economic-empowerment (BEE) deals with employees and host communities that will now bring black ownership levels in the group to 26% and that have resulted in the creation of several community trusts in the labour-fractious Marikana region of the... 

Secret platinum stocks declining

By: Creamer Media Reporter Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about the declining volume of vaulted platinum holdings being held confidentially. 

Secret platinum stocks declining

Cash flow constraints continue to weigh on Platfields

By: Natasha Odendaal As cash-strapped emerging platinum miner Platfields’ JSE suspension remains, discussions with third parties over a possible acquisition of substantial mining assets continue. In a quarterly update to shareholders, Platfields, which had been approached by a third party earlier this year, said the... 

Jubilee revenue increase illustrates success of Middelburg smelter renewal – CEO

By: Tracy Hancock The growth in mine-to-metals company Jubilee Platinum’s revenue in rands for the year ended June 30 compared with the previous reporting period illustrates the successful implementation of the Mpumalanga-based Middelburg smelter renewal and expansion programme concluded in the last quarter of the... 

Secret platinum stocks declining – World Platinum Investment Council 

By: Martin Creamer The volume of vaulted platinum holdings held confidentially is declining, the recently launched World Platinum Investment Council said on Wednesday. The council, which has just published its first quarterly analysis of global platinum supply and demand fundamentals, said the platinum shortfalls... 

Secret platinum stocks declining – World Platinum Investment Council
Paul Wilson

Mineworker numbers set to fall 8% a year – Teba

By: Martin Creamer The number of mineworkers employed in gold mining and platinum mining in South Africa is expected to decline by about 8% a year in the next two years, says Teba Limited CEO Graham Herbert. Herbert, who spoke to Mining Weekly Online in the attached video interview, says his company – which is... 

Mineworker numbers set to fall 8% a year – Teba
Photo by Duane Daws
Graham Herbert (right) and Martin Creamer

Platinum from road dust, Veolia cleans up on British streets

By: Reuters French firm Veolia is recycling precious metals worth £100 000 ($155 000) each year from dust swept off British streets and plans to recover more by opening two new plants. Every day, catalytic converters in cars spit out minute particles of platinum, palladium and rhodium, which end up in road... 

Kruidfontein prospecting right sale completed

By: Creamer Media Reporter The sale of Aquarius Platinum’s indirect interest in the Kruidfontein prospecting right to Pilanesberg Platinum Mines has been completed. In January, Aquarius agreed to sell its interest in C&L Mining & Resources, which held the Kruidfontein prospecting right, to Pilanesberg for $30-million. 

Solid rise in Nov PMI seen as ‘normalisation’ of manufacturing not ‘outperformance’

By: Terence Creamer South Africa’s seasonally adjusted Kagiso Purchasing Managers’ Index (PMI) recovered to its best level in over a year in November, rising to 53.3 points – a reading above the 50-point level signals an expansion. Besides being at its best level since August 2013, the increase in the PMI also... 

Solid rise in Nov PMI seen as ‘normalisation’ of manufacturing not ‘outperformance’

Amplats expects lower FY HEPS, but higher EPS

By: Creamer Media Reporter Anglo American Platinum (Amplats) expects to report lower headline earnings and headline earnings per share (HEPS) for the year ended December 31, mainly as a result of the five-month strike in the platinum sector. Headline earnings and HEPS were likely to be 20% lower than the R1.45-billion and... 

Mining houses, other stakeholders in bid to mitigate high levels of indebtedness among workers

By: Zandile Mavuso About 6.72% of mineworkers in South Africa have been issued with emolument attachment orders (EAOs), which has resulted in a crisis of indebtedness in the mining sector – a crisis that some believe is one of the major underlying factors of the recent labour unrest and protracted strike action. 

Mining houses, other stakeholders in bid  to mitigate high levels of indebtedness among workers

Zimbabwe defers raw platinum tax penalty on companies

By: Reuters Zimbabwe has deferred a 15% tax penalty on mining firms who export raw platinum to 2017, giving the companies time to build refineries in the southern African nation, Finance Minister Patrick Chinamasa said. Presenting the 2015 budget to lawmakers on Thursday, Chinamasa confirmed the government... 

Platreef development hit by ‘trouble-makers’

By: Natasha Odendaal The development of the latest major new underground, mechanised platinum mine, near Mokopane, in Limpopo, has been marred by a “small group” of people instigating animosity towards the emerging operation. However, TSX-listed Ivanhoe Mines, led by founder Robert Friedland, on Thursday vowed it... 

Goldman, BASF, HSBC accused of metals price fixing – US lawsuit

By: Reuters Goldman Sachs Group Inc, Germany's BASF SE and two other big platinum and palladium dealers have been sued in the United States in what the plaintiff's law firm called the first nationwide class action over alleged price-fixing of the metals. In a complaint filed on Tuesday in the US District... 

Allied Nevada optimises Phase 1 of Hycroft mill expansion

By: Mariaan Webb US precious metals miner Allied Nevada Gold has lowered the cost of the first phase of its Hycroft mill expansion project by reviewing the construction sequence of infrastructure and other components. The company said on Wednesday that it could begin operation of the first line of the mill for a... 

Allied Nevada optimises Phase 1 of Hycroft mill expansion

Lonmin closes BEE equity gap

By: Martin Creamer Platinum-mining company Lonmin on Wednesday completed three transactions that take its black economic empowerment (BEE) shareholding to the 26% laid down by South African law. The London- and Johannesburg-listed company said the three transactions had been concluded with employees and near-mine... 

Lonmin closes BEE equity gap
Photo by Duane Daws
Ben Magara
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