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Platinum Group Metals News

Jubilee starts platinum production at Hernic

By: Natasha Odendaal     29th March 2017 Dual-listed Jubilee Platinum's share price on the JSE surged nearly 10% and its share price on the LSE by nearly 9% on Wednesday afternoon after the company announced the start of platinum concentrate production at its Hernic operations. The commissioning and subsequent ramp-up of the fully... 

Pallinghurst turns $45m profit, upbeat on 2017, mulling options

By: Martin Creamer     29th March 2017 Diversified mining company Pallinghurst, which made $45-million profit in 2016, is upbeat on 2017. The Johannesburg Stock Exchange-listed company spoke of all three of its business platforms being well positioned for further growth and value-unlock. 

Pallinghurst turns $45m profit, upbeat on 2017, mulling options
Photo by Duane Daws
Pallinghurst CEO Arne Frandsen and chairperson Brian Gilbertson at JSE listing ten years ago this year.

Wesizwe to report higher earnings for FY16

By: Megan van Wyngaardt     27th March 2017 Platinum miner Wesizwe Platinum, which is developing the Bakubung mine, near Rustenburg, expects to post improved results for the financial year to December 31, with basic earnings a share forecast to increase by 144% to 164%, to between 15.17c and 22.01c. This compares with the basic loss a... 

Reviving king of gold means getting mine workers off their knees

By: Bloomberg     24th March 2017 During his early years as a miner in South Africa, Joas Mahanuque spent six hours a day on his knees drilling for Impala Platinum Holdings Ltd. The dust-filled tunnels half a mile underground were too low for him to stand, and temperatures reached 105 degrees Fahrenheit (40 degrees Celsius).... 

Digitalising underground drilling

     24th March 2017 Digitalisation will improve drilling accuracy and cycle times, and reduce operation costs by improving the efficiency of the drilling and bolting phase, says global engineering group Sandvik. “Drilling as planned, with accurate visual information, leads to continuous improvement across the whole... 

Digitalising underground drilling
DIGITAL DRILLING Sandvik AutoMine compatible underground offering allows customers to significantly upgrade their operations’ productivity and safety

Canadian royalties, streaming firm Franco-Nevada reports rising revenues as it looks to diversify

By: Henry Lazenby     23rd March 2017 Canadian gold royalties and streaming firm Franco-Nevada Corp has recorded a 37.6% increase in revenue for 2016, boosted by record ounces delivered and soaring sales. The company, which derives income from 107 producing royalties and streams, achieved a 30.9% increase in gold-equivalent ounces... 

Canadian royalties, streaming firm Franco-Nevada reports rising revenues as it looks to diversify

Sibanye’s Stillwater deal to come under April 25 spotlight

By: Martin Creamer     20th March 2017 The proposed acquisition by Sibanye of Stillwater Mining will come under the spotlight on April 25, when shareholders will be asked to consider resolutions to give effect to the transaction, with or without amendment. The Johannesburg- and New York Stock Exchange-listed Sibanye, headed by CEO... 

Sibanye’s Stillwater deal to come under April 25 spotlight
Sibanye CEO Neal Froneman

Eastplats opposes claim over 2007 agreement with Alpha Global

By: Creamer Media Reporter      20th March 2017 TSX- and JSE-listed Eastern Platinum (Eastplats) on Monday said it was opposing a claim filed by Alpha Global Capital against it over a 2007 agreement. Alpha Global is seeking payment of and other relief following a 2007 agreement wherein Eastplats had acquired an additional 5% interest in... 

TSX ends down as financials, commodity stocks retreat

By: Reuters     17th March 2017 Canada's benchmark stock index fell on Friday as financial stocks lost ground along with bond yields and as natural resource companies pulled back despite an uptick in commodity prices. The heavyweight financials group lost 0.6%, with insurance company Manulife Financial down 1.5% at C$24.13 and... 

Oliphant visits various Amplats-led SLP projects in Rustenburg

By: Ilan Solomons     17th March 2017 Platinum miner Anglo American Platinum (Amplats) on Friday hosted Deputy Mineral Resources Minister Godfrey Oliphant at the official handover ceremony of a number of the company’s social and labour plan (SLP) projects in Rustenburg, in the North West. The projects included the official opening of... 

Oliphant visits various Amplats-led SLP projects in Rustenburg
Amplats chairperson Mohammed Valli Moosa and Mineral Resources Deputy Minister Godfrey Oliphant visiting Photsaneng Primary School computer centre

Mining's biggest loser Lonmin is burning cash to stay alive

By: Bloomberg     17th March 2017 For most of the mining industry, 2017 is turning out to be another good year. The big exception is Lonmin Plc. Investors are losing confidence in the world’s third-largest platinum producer as it burns through cash to stay afloat, just 15 months after raising about $400 million from shareholders.... 

Jubilee executes tailings agreement

By: Natasha Odendaal     17th March 2017 Dual-listed Jubilee Platinum has secured access to 1.25-million tonnes of new platinum-bearing surface material at an estimated grade of 2.7 g/t platinum, palladium, rhodium and gold (4E) platinum-group metals (PGMs). The execution of a framework and processing of tailings agreement with PlatCro... 

Faulty statistics to blame for belief that PGM prices are inaccurately low – report

By: Ilan Solomons     17th March 2017 Platinum group metals (PGMs) market analysts have expressed confusion that platinum and palladium prices have been cut in half over the past few years while the PGM statistics they use show persistent long-term deficits in these markets. This is according to New York-based research and consulting... 

Faulty statistics to blame for belief that  PGM prices are inaccurately low – report
OVERSUPPLY CONCERN Surpluses are larger for platinum than for palladium and are expected to add metal to the already large stocks of above-ground inventories

Take community engagement seriously, ARM’s Motsepe advises 

By: Martin Creamer     16th March 2017 The South African mining industry must take community engagement extremely seriously to prevent this country’s global competitiveness from being negatively impacted, African Rainbow Minerals (ARM) executive chairperson Patrice Motsepe urged on Thursday. Speaking at question time after ARM... 

Take community engagement seriously, ARM’s Motsepe advises
Mining Weekly Online’s Martin Creamer on African Rainbow Minerals executive chairperson Patrice Motsepe’s presentation of interim results. Video and Video Editing: Nicholas Boyd.

Magara seizes dual role at Lonmin  

     16th March 2017 Lonmin CEO Ben Magara has taken on the position of COO, following the departure of former COO Ben Moolman. Mining Weekly editor Martin Creamer joins senior deputy editor Tracy Hancock in studio to discuss his exclusive interview with the enthusiastic leader. 

Magara seizes dual role at Lonmin
Magara seizes dual role at Lonmin

IDC supporting entry of superior platinum processing route – Malinga 

By: Martin Creamer     15th March 2017 A bankable feasibility study has been completed on a new platinum processing method that slashes electricity consumption by eliminating the power-guzzling smelting step in the processing of platinum-group metals (PGMs), Industrial Development Corporation (IDC) divisional executive: mining and... 

IDC supporting entry of superior platinum processing route – Malinga
Mining Weekly Online’s Martin Creamer in conversation with Industrial Development Corporation divisional executive: mining and metals industries Abel Malinga. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

Government confirms lawsuits from Marikana victims total close to R1.2bn

By: African News Agency      15th March 2017 Government has been served with summonses of claims of over R1.1-billion in compensation from the victims of the Marikana massacre, which claimed the lives of 34 people on April 16, 2012, and ten others in the preceding week, it emerged in Parliament on Tuesday. Briefing Parliament’s portfolio... 

Optimism on minerals seen seeping down to grassroots explorers

By: Henry Lazenby     15th March 2017 Noting the optimism exhibited at the recent Prospectors and Developers Association of Canada (PDAC) international convention, held in Toronto, project generator Transition Metals says the fundamental shift in confidence it saw over the past year is consistent with this. “If you look at the... 

Optimism on minerals seen seeping down to grassroots explorers

Lowest-cost physical platinum marketplace launched

By: Martin Creamer     14th March 2017 Platinum has been added to BullionVault’s online trading marketplace, marking a first for the metal on the world’s largest online precious metals marketplace for buying, selling and storing physical gold and silver bullion. The improvement in liquidity, accessibility and pricing is expected to... 

Lowest-cost physical platinum marketplace launched
World Platinum Investment Council market development director Marcus Grubb

Coal drags but mining production still on the up

By: News24Wire      14th March 2017 Mining production was up 1.3% for January 2017, compared to levels a year ago, according to data from Statistics South Africa (Stats SA). Stats SA released the mining and sales data for January 2017 on Tuesday. Mining production was up 1.7% from December 2016, an uptick from a downward trend... 

Zimbabwe mines output threatened by foreign payment delays

By: Reuters     14th March 2017 Zimbabwe's mining output is under threat because banks are delaying processing foreign payments by up to three months due to a shortage of dollars, the southern African country's mining chamber warned on Monday. Mining generates more than half of Zimbabwe's foreign exchange and should be given... 

Magara seizes Lonmin COO opportunity as he grasps low-price nettle 

By: Martin Creamer     13th March 2017 It’s 7 am. Ben Magara walks in bang on time for our interview. He left home at 4.15 am to be in the gym at 5 am and the office at 6 am. He has a nice spring in his step as he tells me that he has grasped the COO opportunity in addition to his role as CEO of platinum mining company Lonmin,... 

Magara seizes Lonmin COO opportunity as he grasps low-price nettle
Lonmin CEO Ben Magara

ANC says law-making powers trump courts in South Africa mine ownership fight 

By: Bloomberg     10th March 2017 South Africa’s ruling party said mining companies should seek agreement with the government over ownership rules rather than challenging them in court because even if they win a legal battle, legislation can still be changed to further the aim of spreading wealth to the nation’s black majority.... 

ANC says law-making powers trump courts in South Africa mine ownership fight
Photo by Duane Daws
ANC economic policy head Enoch Godongwana

Certification grows company’s sales, ups market share

By: Victor Moolman     10th March 2017 Valve and steel supplier Stewarts & Lloyds South Africa (S&L SA) has grown its market share in South Africa after receiving South African National Standards (SANS) certification for its RSV gate valves, reporting a 40% increase in SANS-approved valve sales since receiving certification last year. 

Certification grows  company’s sales,  ups market share
SERVICE DELIVERY Stewarts & Lloyds attributes its strategically located branch network to always being able to ensure minimal downtime for customers

Facility set to boost skills, grow industry after slump

By: Victor Moolman     10th March 2017 Valve manufacturer AVK Southern Africa’s new R200-million training academy, in Alrode, Gauteng, will train 1 500 people by the end of the year. 

Facility set to boost skills,  grow industry after slump
Photo by Duane Daws
SKILLS TRANSFER The students trained at AVK’s Alrode facility are from technical schools and universities and professionals from the valves industry

BofAML warns of rising headwinds for commodities

By: Henry Lazenby     9th March 2017 Bank of America Merrill Lynch (BofAML) cast a pall on the budding optimism seen at the recent Prospectors and Developers Association of Canada’s yearly convention, in Toronto, saying that the commodity market, in general, is transitioning from tailwinds to headwinds this year. In its ‘Global... 

African mining delegation closes TSX

By: Henry Lazenby     9th March 2017 An African mining delegation, comprising government officials and mining companies, rang the closing afternoon bell of the TSX on Wednesday afternoon during the yearly Prospectors and Developers Association of Canada international convention. The delegations joined TMX Group global equity markets... 

African mining delegation closes TSX

Police swoop in on illegal gold and platinum lab in Joburg

By: African News Agency      9th March 2017 An illegal gold and platinum processing laboratory was shut down in Lenasia, south of Johannesburg, following a raid in which officers seized precious metals and manufacturing equipment worth approximately R5-million, South Africa’s specialised police unit, the Hawks, said on Thursday. In a... 

Platinum demand declines, but still outstrips supply for sixth consecutive year

By: Natasha Odendaal     9th March 2017 This year is expected to be the sixth consecutive year that global platinum consumption has outstripped supply, with a predicted total supply decline of 4% overshadowing the anticipated 6% decrease in demand. Following a “mixed” 2016, the World Platinum Investment Council’s (WPIC’s) latest... 

Platinum demand declines, but still outstrips supply for sixth consecutive year

One of the rarest precious metals is on best run in a decade

By: Bloomberg     7th March 2017 Rhodium’s on the best run in a decade on expectations of more demand for the material that’s used in cleaning toxic car emissions. One of the rarest precious metals, it climbed the past seven months and is up 19% this year, outperforming most major commodities. Mostly used alongside palladium in... 

Merafe hits high spots with record results

By: Martin Creamer     7th March 2017 Ferrochrome company Merafe Resources on Tuesday reported record production, record revenue and a major jump in headline earnings in the 12 months to December 31. Production hit the 393 000 t mark, revenue lifted to R5.7-billion, headline earnings a share soared 53% to 21.2c, safety improved and... 

Merafe hits high spots with record results
Photo by Duane Daws
Merafe CEO Zanele Matlala

‘What a difference a year makes’ – analysts outline mostly strong commodity fundamentals despite uncertainty

By: Henry Lazenby     7th March 2017 “What a difference a year makes,” John Butcher, principal economist at commodity consultancy Wood Mackenzie exclaimed during a technical programme at the Prospectors and Developers Association of Canada’s yearly convention this week. While global economic growth came in at a disappointing 2.3% in... 

Stakeholder engagement key to African development success

By: Henry Lazenby     7th March 2017 Capital for development ebbs and flows with global economic cycles, pushing to the fore the need for long-term regulatory security when it comes to multinational miners developing projects in Africa, said Ashanti Gold CEO and director Tim McCutcheon during a panel discussion on Africa’s mining... 

Stakeholder engagement key to African development success

Transformation at the core of Anglo American’s resilience

By: Henry Lazenby     7th March 2017 The ability to innovate and build adaptation into the DNA of mining companies is a critical requirement to successfully navigate major market changes, Anglo American CEO Mark Cutifani said during a keynote address at the 2017 Prospectors and Developers Association of Canada’s yearly convention.... 

Transformation at the core of Anglo American’s resilience
Photo by Duane Daws
Ango American CEO Mark Cutifani says survival meant a massive transformation of the asset base, in a rapid time frame

US body extends review of Stillwater acquisition; Sibanye provides update on reserves

By: Megan van Wyngaardt     3rd March 2017 JSE-listed Sibanye Gold has received written notification from the Committee on Foreign Investment in the United States (CFIUS) that it wishes to undertake further investigation of the company’s proposed R30-billion acquisition of US-based platinum group metals (PGMs) producer Stillwater Mining... 

US body extends review of Stillwater acquisition; Sibanye provides update on reserves
Photo by Duane Daws
Sibanye CEO Neal Froneman

Wellgreen achieves all Phase 1 metallurgical test objectives

By: Henry Lazenby     3rd March 2017 Wellgreen Platinum has succeeded in achieving all the objectives it set out to accomplish through the Phase 1 metallurgical programme on its Wellgreen nickel/copper/platinum-group metals (PGMs) project, in Canada’s Yukon Territory. "We have made quantum leaps in our understanding of the geology,... 

Rathdowney closes C$7m private placement to progress permitting of Polish project

By: Henry Lazenby     3rd March 2017 TSX-V-listed project developer Rathdowny Resources has closed a C$6.9-million private placement, which will be used to further advance permitting of the company’s flagship Olza zinc/lead/silver project, in Poland. The Vancouver-based junior has also entered an unsecured C$30 000 debenture with an... 

Drilling services provider declares Indaba ‘great success’

By: Simone Liedtke     3rd March 2017 The 2017 Investing in African Mining Indaba was a “great success” for drilling services and equipment, including for performance tooling provider Boart Longyear, as it secured deals and has several prospective projects to follow up on, says general sales manager Andre van Heerden. 

Drilling services  provider declares  Indaba ‘great success’
TRUCORE The core-orienation tool is easy-to-use, highly accurate and features wireless communication, a corrosion-resistant steel body and a field-replaceable battery
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