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Platinum Group Metals News

Implats appoints political, industry heavyweights to board

By: Natalie Greve JSE-listed Impala Platinum (Implats) has appointed former Cabinet Minister Dr Sydney Mufamadi, former Harmony Gold CEO Bernard Swanepoel and former African Development Bank COO Dr Nkosana Moyo as independent nonexecutive directors, with immediate effect.  Mufamadi is a director of the School of... 

Resources Watch

By: Creamer Media Reporter This week: Implats moves to power its platinum refinery with platinum fuel cells. A property sale provides profitability impetus for AECI. And, AngloGold Ashanti is in mass meetings with workers ahead of wage talks. 

Resources Watch

Glencore commits to migrating first world safety to third world countries 

By: Martin Creamer Diversified major Glencore, which reported 16 fatalities last year, has committed itself to migrating first-world safety practices into challenging geographies where more than 80% of the deaths took place. The London-, Hong Kong- and Johannesburg-listed company’s SafeWork programme – in which 118... 

Glencore commits to migrating first world safety to third world countries
Photo by Duane Daws
Ivan Glasenberg

RBPlat chalks up FY output, revenue gains to stable labour relations, cost conservatism

By: Natalie Greve Despite a year in which the platinum industry battled extended strikes and a fractious labour relations environment, black-owned Royal Bafokeng Platinum (RBPlat) CEO Steve Phiri said he was “cautiously satisfied” with the company’s 2014 results, attributing revenue, production and earnings gains... 

Marketing hoists Glencore over low commodity price hurdle

By: Martin Creamer Diversified major Glencore has managed to scale the low commodity price hurdle with significant help from its marketing arm. The London- Hong Kong- and Johannesburg-listed company, which produces and markets 93 commodities, went against the grain with its surging agricultural business yielding... 

Marketing hoists Glencore over low commodity price hurdle
Ivan Glasenberg

South Africa's RBPlat FY earnings up 38% on higher sales

By: Reuters South Africa's Royal Bafokeng Platinum (RBPlat) said on Tuesday full-year earnings rose 38%, owing to higher sales, cost cuts and as currency weakness lifted the rand price of its metals. The mid-tier producer said in a statement headline earnings per share for the year to December totalled 239c,... 

Five years on, Quebec’s Plan Nord 2.0 aims for coherence in low-price environment

By: Henry Lazenby When the Quebec government’s Plan Nord to develop the parts of the province located north of the 49th parallel was launched under Jean Charest’s Quebec Liberal Party in May 2011, it was heralded as a timely and necessary act in the mining industry’s favourable economic context at the time. But a... 

Five years on, Quebec’s Plan Nord 2.0 aims for coherence in low-price environment
Photo by Reuters
Former Quebec Premier Jean Charest unveiled the Plan Nord on May 9, 2011.

Silver to move sideways, while new palladium uses temper platinum outlook

By: Henry Lazenby The strength of the US dollar had been undermining prices for silver, platinum and palladium in recent months, but despite new industrial applications and speculative investment interest, the three precious metals had different market circumstances and divergent outlooks. London-based Thompson... 

Canadian fed and Ontario govts unveil supports for mining industry

By: Henry Lazenby Several federal departments of the Canadian government, as well as the Ontario provincial government, unveiled new measures and investments on Sunday to increase support and drive growth in the country's besieged mining industry. In a speech to the Prospectors & Developers Association of Canada,... 

Canadian fed and Ontario govts unveil supports for mining industry
Photo by Reuters
Canadian Finance Minister Joe Oliver

Sibanye Gold says not keen on Implats' Marula mine

By: Reuters South Africa’s Sibanye Gold, which says it wants to expand into platinum, said on Thursday it was not interested in Impala Platinum’s Marula mine. Implats earlier announced on Thursday announced its intention to sell Marula, which produced 78 500 oz of platinum in its 2014 financial year, as part... 

Implats moves to power platinum refinery with platinum fuel cells

By: Martin Creamer Platinum major Impala Platinum (Implats) is studying the feasibility of taking its entire platinum refinery off the national electricity grid and powering it with platinum fuel cells. The refinery already has a supply of available hydrogen to fuel the cells and would need some 20 MW of fuel-cell... 

Implats moves to power platinum refinery with platinum fuel cells
Photo by Creamer Media
Terence Goodlace and Martin Creamer

North American Palladium lifts Lac des Iles reserves and resources

By: Henry Lazenby Canadian palladium producer North American Palladium (NAP) rose almost 19% on Wednesday on the TSX after it reported sizeable increases to both the compliant reserves and resources at its flagship Lac des Iles property, in north-western Ontario. The Toronto-headquartered company reported reserves... 

Lonmin COO resigns

Johan Viljoen has resigned as COO of dual-listed platinum miner Lonmin, citing personal reasons for his departure. Lonmin’s business support office head Ben Moolman would, with immediate effect, become acting COO for the time being, alongside his current role. 

EY’s Canadian Mining Eye index falls 12% in Q4, lower oil prices provide some respite

By: Henry Lazenby Global professional services firm EY’s Canadian Mining Eye index fell 12% in the quarter ended December 31, compared with a 15% decline in the prior period. The index underperformed against the S&P/TSX Composite index, which fell 2% in the last quarter of 2014, while the London Metal Exchange... 

EY’s Canadian Mining Eye index falls 12% in Q4, lower oil prices provide some respite

AngloGold in mass meetings with workers ahead of wage talks

By: Martin Creamer Gold major AngloGold Ashanti on Monday outlined how it had conducted eight days of mass meetings with unlimited question-and-answer sessions with all of its mineworkers, ahead of the crucial gold industry wage talks. With support of organised labour, the company had conducted the mass meetings... 

AngloGold in mass meetings with workers ahead of wage talks
Photo by Creamer Media
Venkat (right) with Martin Creamer

Recycling, war on diesel threaten platinum producers' price hopes

By: Reuters Platinum producers struggling back from South Africa's longest-ever mining strike are now contending with threats to a long-awaited price recovery, notably Europe's emerging dislike of diesel engines. The world's largest platinum miners, crippled by a five-month stoppage in 2014, have said their... 

Acquisitive Northam Platinum eyeing ‘clear’ opportunities

By: Natalie Greve Metals producer Northam Platinum is keeping its ear to ground in the hopes of acquiring low-cost, shallow, mechanised mining operations that will support its overarching strategic aim of descending the operational cost curve. “Some clear opportunities [are] emerging in the platinum sector, which... 

Acquisitive Northam Platinum eyeing ‘clear’ opportunities
Northam CEO Paul Dunne

Northam Platinum recovers to solid profit in strike-free H1

By: Natalie Greve South African platinum producer Northam Platinum has swung to a profit attributable to shareholders of R354.1-million for the six months ended December 31, after posting a loss of R92.7-million in the first half of the prior year. This translated to headline earnings a share of 89.6c. 

Northam Platinum recovers to solid profit in strike-free H1
Booysendal mine

Parliamentary minerals law review limited to four points

By: Martin Creamer The review of the Minerals and Petroleum Resources Development Act (MPRDA) Amendment Bill would be restricted to four recommendations and the focus would be on whether or not these passed constitutional and procedural muster, Mineral Resources Parliamentary Portfolio Committee chairperson... 

Parliamentary minerals law review limited to four points
Photo by Duane Daws
Ngoako Ramatlhodi

Mines are development engines for host countries – ICMM

By: Martin Creamer Mines are proven engines of economic development for host countries, which benefit significantly from the foreign direct investment (FDI) that mines attract as well as the export earnings that they generate, the International Council for Mining & Metals (ICMM) has found in a unique 214-country... 

Mines are development engines for host countries – ICMM
Photo by Creamer Media
Martin Creamer and Tony Hodge

Implats to report lower H1 earnings

By: Natasha Odendaal Impala Platinum (Implats) on Monday said it expected to record lower interim earnings. Headline earnings a share were expected to drop to between 53c and 77c during the six months to December – a 45% to 63% decline on the 142c reported in the comparative period the year before. 

Opposition calls on President to back Minister on developmental pricing issue

By: Martin Creamer Amidst apparent disagreement in his Cabinet about mining policy, President Jacob Zuma needed to step in and provide leadership so that potential mining investors had certainty about South Africa’s mining policy, Shadow Democratic Alliance (DA) Mineral Resources Minister James Lorimer has urged in... 

Opposition calls on President to back Minister on developmental pricing issue
Photo by DA.org.za
James Lorimer

Good governments assume lower commodity prices  

By: Martin Creamer The governments of resource-rich countries should base their financial planning on commodity prices that are lower than the year prior. Should actual commodity prices eventuate that are higher than those assumed, the additional revenue from the higher prices should be treated as a bonus and spent... 

Good governments assume lower commodity prices
Photo by Bloomberg
Jim O'Neill

Sylvania lifts H1 PGM output 24% to 31 341 oz

By: Natalie Greve Indicative of what Sylvania Platinum believes is the stability of its Sylvania Dump Operations (SDO), located on the western limb of the Bushveld Complex, the mines produced 31 341 oz of platinum-group metals (PGMs) in the six months to December 31 – a 24% increase on the 25 189 oz produced in... 

Cash-strapped Platfields still on the hunt for financing

By: Natalie Greve Emerging platinum miner Platfields remains on the hunt for additional funding, stating on Friday that attempts to secure financing through this “very difficult period” had, thus far, been unsuccessful. Its inability to secure capital had stalled the conclusion of potential acquisitions, while... 

Mining output dips in December

By: Natasha Odendaal South Africa’s mining output declined 2% year-on-year in December, as poor performance from the diamonds, iron-ore and platinum-group metals (PGMs) sectors weighed on overall production. The latest data from Statistics South Africa (Stats SA) showed negative growth rates of -27.9% and -15.6% for... 

Aquarius H1 output rises to 343 845 oz

By: Megan van Wyngaardt Platinum miner Aquarius had “in the face of a very difficult operating, labour, political and social environment”, reported revenue of $186-million for the six months ended December 31. Group mine earnings before interest, taxes, depreciation and amortisation were $18-million, owing to higher... 

Aquarius says it respects Zimbabwe legislation

By: Megan van Wyngaardt JSE-listed Aquarius Platinum on Wednesday reported that its Zimbabwe-based Mimosa joint venture operation had again performed “strongly” in the six months ended December 31. It produced about 60 000 oz of platinum in the second quarter of the current financial year – the highest ever quarterly... 

Jubilee raises R13.18m for PGM, chrome processing plant studies

By: Natalie Greve Dual-listed Jubilee Platinum has, through the placement of 49.9-million shares at R26.35 apiece, secured nearly R13.18-million in funding for the detailed design and engineering of its planned chrome and platinum group metals (PGMs) surface processing operations. The design and engineering... 

Platinum fuel cells to power five-million Japanese homes – Ivanhoe 

By: Martin Creamer Japan was building platinum-using fuel cells to provide clean electricity and heat to 5.3-million homes, Ivanhoe Mines executive chairperson Robert Friedland told the Mining Indaba on Wednesday. Japan was also planning to run the Tokyo Olympics on fuel cells to showcase the arrival of the... 

Platinum fuel cells to power five-million Japanese homes – Ivanhoe
Photo by Duane Daws
Ivanhoe Mines chairperson Robert Friedland

South Africa's Northam says expects to swing to first-half profit

By: Reuters South Africa's Northam Platinum said on Wednesday it expects to swing into profit for the six months to the end of December with headline earnings per share rising up to 98c compared with a headline loss of 25c a year ago. The platinum producer whose shares had risen 2% by 0730 GMT, said the... 

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