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Platinum Group Metals News

Platinum industry redoubling marketing efforts in the midst of oversupply

By: Ilan Solomons     Updated 7 hours ago Marketing is immensely important for the platinum sector, which is battling a pervasive weak price environment, trading at about $925/oz, compared with the all time high of $2 270/oz, in 2008 and an oversupplied market. Owing to, marketing of the metals various uses has only increased in... 

ANC’s Mining Charter response ‘very constructive’ – Anglo

By: Martin Creamer     27th July 2017 The response of South Africa’s ruling African National Congress (ANC) party at its recent policy conference, that further discussion is required on the controversial Mining Charter Three, to ensure that investment and employment levels are not negatively affected, has been described as “very... 

ANC’s Mining Charter response ‘very constructive’ – Anglo
Mark Cutifani

Cash-gushing Anglo restarts dividend as earnings double

By: Martin Creamer     27th July 2017 The underlying earnings of diversified mining company Anglo American have more than doubled in the six months to June 30, when the generation of cash in the half year was more than all of 2016. Earnings hit the $1.5-billion mark and cash flow soared to $2.7-billion. 

Cash-gushing Anglo restarts dividend as earnings double
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Moratorium aside, Zwane approves Lonmin’s bid to acquire Anglo’s Pandora stake

By: Samantha Herbst     26th July 2017 Mineral Resources Minister Mosebenzi Zwane has given platinum major Lonmin the go-ahead to acquire Anglo American Platinum’s 42.5% stake in the Pandora platinum joint venture (JV) operation, which saves the 3 000 jobs that would have been lost had the operation been placed under care and... 

Deputy Minister ‘uncomfortable’ at not being consulted

By: Martin Creamer     26th July 2017 Deputy Mineral Resources Minister Godfrey Oliphant told Radio 702 morning anchor Xolani Gwala on Wednesday that he was “uncomfortable” at having to read about the proposed mineral rights moratorium in the newspapers. Oliphant, who has served as the deputy to three Mineral Resources Ministers,... 

Deputy Minister ‘uncomfortable’ at not being consulted
Photo by Duane Daws
Deputy Mineral Resources Minister Godfrey Oliphant

Stop moratorium now, NUM instructs DMR

By: Martin Creamer     26th July 2017 The National Union of Mineworkers (NUM) said on Wednesday that it is deeply concerned by the current consideration by the Minister of Mineral Resources Mosebenzi Zwane to put in place a mineral rights moratorium until the finalisation of the Mining Charter Three court challenge by the Chamber of... 

Kumba CEO Mkhwanazi concerned by Minister’s reneging  

By: Martin Creamer     25th July 2017 Kumba Iron Ore CEO Themba Mkhwanazi on Tuesday expressed concern about the mineral rights and mining transaction moratorium that has been gazetted by Mineral Resources Minister Mosebenzi Zwane, especially because it followed his agreement to suspend the implementation of Mining Charter Three... 

Kumba CEO Mkhwanazi concerned by Minister’s reneging
Kumba Iron Ore CEO Themba Mkhwanazi reported a reinstatement of the dividend at the presentation of half-year results covered by Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video: Darlene Creamer. Video Editing: Lionel da Silva

Chamber of Mines challenges mining rights freeze in court

By: Reuters     25th July 2017 South Africa's Chamber of Mines has lodged an urgent court application to prevent the mines minister from suspending the issuance of new mining and prospecting rights, the industry body said on Tuesday. "The industry has no option but to proceed with court action to ensure that the minister acts... 

TSX falls, weighed by Barrick and other gold miners

By: Reuters     24th July 2017 Canada's main stock index fell on Monday, as gold miners broadly weighed and Barrick Gold lost nearly 5% after a company it majority owns, Acacia Mining, was hit with a bill for $190-billion in unpaid taxes in Tanzania. Railway stocks, big banks and pipeline and other energy stocks also put... 

Fuel cell vehicle sales boosting platinum demand outlook  

By: Martin Creamer     24th July 2017 Growth potential for platinum is emerging in the rapid build-up off a low base of fuel cell electric vehicle sales. Fuel cell vehicle sales are expected to grow by more than 200% this year, with Japan targeting 200 000 fuel cell electric vehicles on its roads in 2025 and 800 000 in 2030. 

Fuel cell vehicle sales boosting platinum demand outlook
Anglo American Platinum CEO Chris Griffith outlines platinum’s electric vehicle demand potential to Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

Amplats strengthens balance sheet, continues to manage for low prices

By: Martin Creamer     24th July 2017 Platinum mining company Anglo American Platinum (Amplats) reported on Monday that it has been able to further strengthen its balance sheet in the six months to June 30, despite the weaker rand basket prices in the period. In generating R4.3-billion in underlying operating cash flow, Amplats was... 

Amplats strengthens balance sheet, continues to manage for low prices
Photo by Duane Daws
Amplats CEO Chris Griffith

Bokoni idled as JV partners Amplats, Atlatsa strike a deal

By: Natasha Odendaal     21st July 2017 Dual-listed Atlatsa Resources on Friday announced plans to implement a two-phase restructure plan that will see its joint venture (JV) Bokoni mine idled, with JV partner Anglo American Platinum (Amplats) acquiring the resources specified in the Central Block and Kwanda North prospecting rights. A... 

Bokoni idled as JV partners Amplats, Atlatsa strike a deal

Moratorium infers intention to circumvent agreement – Leon 

By: Martin Creamer     21st July 2017 The mineral rights moratorium gazette notice of Mineral Resources Minister Mosebenzi Zwane infers an intention to circumvent the underlying purpose of the agreement reached with the Chamber of Mines, Herbert Smith Freehills’ Africa partner and co-chair, Peter Leon, said on Friday. In particular,... 

Moratorium infers intention to circumvent agreement – Leon
Photo by Duane Daws
Herbert Smith Freehills’ Africa practice partner and co-chair Peter Leon

Charter’s BEE ‘top-up’ provision may be unconstitutional

     21st July 2017 The new “top-up” provision in the latest Mining Charter gazetted on June 15, may prove to be unconstitutional and may lead to further expensive legal action by the mining industry, states Fasken Martineau partner and global mining group member Nicola Jackson. In a statement published on June 15,... 

Charter’s BEE  ‘top-up’ provision may be unconstitutional
GOVERNMENT PAYING LIP SERVICE? The controversial Mining Charter’s new procurement targets stipulate that 80% of services be performed by black economic-empowerment entities

Lack of confidence in black businesses cripples development

By: Nadine James     21st July 2017 Materials handling and alternative mining solutions expert Ncamiso Mining is expanding its presence in Welkom, where it sees strong potential to grow and support local black-owned and black economic-empowerment (BEE) entities across the various needs of their operations in the area. However,... 

Lack of confidence in black businesses cripples development
SYMBIOTIC RELATIONSHIP The sharing of knowledge and experience would prove invaluable to black-owned companies and, ultimately, benefit all the businesses in the mining sector

Diamond output leap helps Anglo

By: Martin Creamer     20th July 2017 A sharp rise in rough diamond production at a time of stable diamond trading conditions has boosted diversified mining company Anglo American in the three months to June 30, when overall production was 8% up on a copper-equivalent basis. Rough diamond production increased by 36% to 8.7 million... 

Diamond output leap helps Anglo
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Amplats own-mine output up, sales down in two-fatality quarter

By: Martin Creamer     20th July 2017 Performance from its own mine operations helped platinum production from Anglo American Platinum (Amplats) to increase in the three months to June 30, but sales volumes fell sharply on technical problems and two mineworkers succumbed to fatal injuries. Full-year production guidance remains... 

Ivanhoe appoints two more financiers to find funds for Platreef

By: Samantha Herbst     19th July 2017 Africa-focused platinum-group metals (PGM) miner Ivanhoe Mines has appointed mine-financing institutions KfW IPEX-Bank and the Swedish Export Credit Corporation (SEK) to arrange project financing for the development of the Platreef project in South Africa’s Limpopo province. The German... 

Ivanhoe appoints two more financiers to find funds for Platreef
Ivanhoe chairperson Robert Friedland

Demand growth for some metals may exceed 1 000% – World Bank

By: Martin Creamer     18th July 2017 A new World Bank report highlights the potential impacts that the expected continuing boom in low-carbon energy technologies will have on demand for many minerals and metals, including Southern Africa's platinum, manganese and chrome. Using wind and solar energy, and energy storage batteries, as... 

Amplats earnings head for sharp half-year fall

By: Martin Creamer     18th July 2017 Platinum mining company Anglo American Platinum (Amplats) on Tuesday advised its shareholders to expect a sharp fall in earnings of between 45% and 67% for the six months to June 30. The JSE-listed platinum major advised that headline earnings for the first half of the year are likely to decrease... 

Amplats earnings head for sharp half-year fall
Anglo American Platinum operations

PTM suspends mining at Maseve as it transitions to new mining method

By: Natasha Odendaal     18th July 2017 Dual-listed Platinum Group Metals (PTM) has suspended active mining at its Maseve mine, in the North West province, as it transitions the operation to a more hybrid mining method with a smaller labour force. Over the next few weeks, PTM will be focused on restructuring the mine’s contractor... 

Nine recommended improvements should charter renegotiation ensue

By: Martin Creamer     17th July 2017 The agreed suspension of the implementation of the controversial Mining Charter Three may present an opportunity for the parties to negotiate a revised version that reflects terms acceptable to all parties. If so, the renegotiated charter should contain at least nine improvements, say Herbert... 

Nine recommended improvements should charter renegotiation ensue
Photo by Duane Daws
Herbert Smith Freehills Africa partner and co-chair Peter Leon

Eurasia to apply for licence to mine 1.9Moz Monchetundra PGM project

By: Mariaan Webb     17th July 2017 Platinum group metals (PGMs) miner Eurasia said on Monday it would submit a mining licence application for its Monchetundra project, in the “near future”, after the Russian State Agency for Suboil use granted a discovery certificate for the project. The certificate, which is a prerequisite for a... 

Lonmin boosts turnaround on upped output, suffers fatalities

By: Martin Creamer     17th July 2017 In the three months to June 30, platinum mining major Lonmin recorded lower unit costs and higher net cash on improved production and rising sales – but suffered two fatalities in a quarter when the overall injury level was on a firmly downward trajectory. On sustaining the company’s financial... 

Lonmin boosts turnaround on upped output, suffers fatalities
Lonmin CEO Ben Magara, who has also assumed direct hands-on COO control of all operations

North American metals and mining sector provides weak covenant protections – Moody’s

By: Henry Lazenby     15th July 2017 High-yield bonds issued in the metals and mining sector provide weak covenant protection, Moody's Investors Service says in a new report issued on Friday. The average covenant quality (CQ) score under the credit rating agency's scoring criteria for the 56 North American metals and mining... 

Platinum’s plight under Ministerial spotlight

By: Martin Creamer     14th July 2017 Mineral Resources Minister Mosebenzi Zwane on Friday received a presentation from the Platinum Leadership Forum, led by CEOs of platinum mining companies operating in South Africa. According to a Department of Mineral Resources (DMR) release, the CEOs presented on the current state of the... 

Chamber wins round one in battle against mining charter

By: Martin Creamer     14th July 2017 In what is a clear first round victory for the Chamber of Mines of South Africa against the errant Department of Mineral Resources (DMR), Mineral Resources Minister Mosebenzi Zwane has agreed to suspend the implementation of the controversial Mining Charter Three until after the High Court has... 

Chamber wins round one in battle against mining charter
Chamber CEO Roger Baxter – chamber wins first round in fight against devastating Mining Charter Three

Mining Charter Three unpacked ahead of court hearing

By: Mia Breytenbach     14th July 2017 Ahead of the High Court of South Africa’s hearing, on July 18, to decide on an interdict to halt the implementation of the revised Mining Charter, Deloitte Africa Energy and Resources leader Andrew Lane last week said the mining industry had to take a broader view of the charter, focus and... 

Mining Charter Three unpacked ahead of court hearing
Photo by Duane Daws
MOSEBENZI ZWANE Zwane published the Mining Charter on June 15, which was received with much turbulence and controversy

Rest of Africa accounts for 50% of optimistic OEMs’ workload

     14th July 2017 South African process equipment supplier MIP Process MD Phillip Hoff is positive that 2017 will be a good year for the original-equipment manufacturer (OEM). “Our pricing and [the level of] quality mean we are still highly competitive, compared with Asian and Chinese manufacturers.” 

Rest of Africa accounts for 50% of optimistic OEMs’ workload
PHILLIP HOFF Seventy-five per cent of MIP Process’s business is outside of South Africa, as opposed to 25% about a year ago

Mining ups y/y output in May, but down again month on month

By: Mia Breytenbach     13th July 2017 South Africa’s headline mining production grew 3.6% year-on-year in May, but contracted -0.2% from the downwardly revised month-on-month decrease in April over March, of -1.4%. The three largest positive contributors to the headline improvement in mining activity came from iron-ore production,... 

May mining output falters on uncertain commodity prices

By: Martin Creamer     13th July 2017 Mining production data released by Statistics South Africa on Thursday revealed a second consecutive month of production contraction. The -0.2% contraction and the -1.4% contraction in April are viewed as concerning by Chamber of Mines of South Africa chief economist Henk Langenhoven, owing to... 

May mining output falters on uncertain commodity prices
Photo by Duane Daws
Chamber of Mines of South Africa chief economist Henk Langenhoven

Sibanye appoints Southern Africa executive VP

By: David Oliveira     13th July 2017 JSE- and NYSE-listed precious metals miner Sibanye Resources has appointed Robert van Niekerk the company’s executive VP for the Southern Africa region. Van Niekerk joined Sibanye in February 2013 as part of the executive team, fulfilling various roles within the organisation, including, most... 

Sibanye appoints Southern Africa executive VP
Sibanye's newly appointed executive VP for Southern Africa, Robert van Niekerk

Years of gridlock face South Africa as new rules hurt mining 

By: Bloomberg     13th July 2017 Executives from Sibanye Gold Ltd., South Africa’s biggest gold miner, were in Los Angeles in the final stages of a roadshow with U.S. bond fund managers last month when a bombshell hit from back home. The government had introduced shock new rules requiring local mines be 30 percent black-owned in... 

Years of gridlock face South Africa as new rules hurt mining

Platinum for new fuel cell Mercedes cut to autocat level  

By: Martin Creamer     12th July 2017 German car manufacturer Daimler has cut the platinum loading of its new fuel cell Mercedes to catalytic converter level. “We reduced the amount of platinum by 90%, which provides a significant cost reduction. Our fuel cell is not much above the platinum loading of a catalytic converter on a... 

Platinum for new fuel cell Mercedes cut to autocat level
Photo by cH2ange
Daimler fuel cell director Prof Dr Christian Mohrdieck

Chamber’s interdict application likely to succeed – attorney

By: Nadine James     12th July 2017 Mining industry employers’ organisation Chamber of Mines’ (CoM’s) urgent interdict application to halt the implementation of the third iteration of the Mining Charter – published by Mineral Resources Minister Mosebenzi Zwane on June 15 – is likely to succeed, says Webber Wentzel partner Rita... 

Chamber’s interdict application likely to succeed – attorney
Photo by Ilan Solomons
Mineral Resources Minister Mosebenzi Zwane

Miners rewarded for improved capital discipline

By: Henry Lazenby     11th July 2017 Increased cash flows, merger and acquisition (M&A) activity and new debt issues have helped many of the world’s top miners strengthen their balance sheets in 2016, reflecting miners’ response to investor messages around capital discipline, according to new analysis from PwC Canada. "As the global... 

Miners rewarded for improved capital discipline

Manganese makes list of key tech metals heading for short supply

By: Martin Creamer     11th July 2017 Nothing can stop the proliferation of iPhones, solar panels and Teslas, except perhaps a shortage of key natural resources, comments the latest Fortune magazine, which puts manganese from South Africa on the list of crucial technology metals needed in the US. Fortune’s world map showing the... 

Manganese makes list of key tech metals heading for short supply
Photo by Duane Daws
Industrial Development Corporation Mining and Metals Industries divisional executive Abel Malinga (right) talking to Mining Weekly's Martin Creamer.

Tharisa delivers another record production quarter

By: Martin Creamer     10th July 2017 Platinum group metals (PGM) and chrome producer Tharisa, which has again shown incremental improvements in production volumes and recoveries in the three months to June 30, is continuing to examine ways of further optimising its operations. The Johannesburg Stock Exchange-listed Tharisa, headed... 

Tharisa delivers another record production quarter
Photo by Duane Daws
Tharisa, headed by CEO Phoevos Pouroulis
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