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Platinum Group Metals News

Platinum price upside limited despite stronger structural demand in coming years

By: Henry Lazenby     20th January 2017 Analysts at Bank of America Merrill Lynch (BofAML) Global Research forecasts little upside for platinum despite strengthening structural demand, saying South African producers are putting more ounces on the market at a time when discipline is required. In a ‘Global Metals Weekly’ report published... 

Platinum price upturn needed to sustain industry – Lonmin 

By: Martin Creamer     20th January 2017 An upturn in the platinum price is needed for the sustainability of the platinum industry as a whole, Lonmin CEO Ben Magara said on Friday. The head of the large London- and Johannesburg-listed platinum mining company said that although there had been a slight price recovery since November and... 

Platinum price upturn needed to sustain industry – Lonmin
Lonmin CEO Ben Magara points out the unsustainability of the current low platinum price at a media conference covered Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video: Nicholas Boyd. Video Editing: Lionel da Silva.

Mine safety a casualty of too many distractions, say unions as 2016 statistics show marginal improvement

By: Natasha Odendaal     19th January 2017 South Africa’s mining stakeholders need to “go back to the drawing board” and refocus efforts on bringing down the number of fatalities in the sector, trade union Solidarity's deputy general secretary for occupational health and safety and sustainable development Advocate Paul Mardon said, as a... 

Mine safety a casualty of too many distractions, say unions as 2016 statistics show marginal improvement
Photo by Duane Daws
Mineral Resources Minister Mosebezi Zwane

Sibanye’s Stillwater platinum deal edges forward

By: Martin Creamer     19th January 2017 Precious metals mining company Sibanye’s proposed acquisition, Stillwater Mining of the United States of America, edged forward on Thursday with the notification that both companies had received early termination of the waiting period under the US’s Hart-Scott-Rodino legislation, which means that... 

Sibanye’s Stillwater platinum deal edges forward
Photo by Duane Daws
Sibanye CEO Neal Froneman

Rockfall claims one life at Implats’ 20 shaft

By: Natasha Odendaal     18th January 2017 A rockfall at Impala Platinum’s (Implats’) 20 shaft, in Rustenburg, on Wednesday claimed the life of one mineworker and injured another. Implats spokesperson Johan Theron confirmed the incident to Mining Weekly Online, noting that the shaft has been shut down pending investigation. 

Davos boosts platinum fuel cell outlook with hydrogen council launch

By: Martin Creamer     18th January 2017 Hydrogen-powered fuel cell electric vehicles (FCEVs) offer the most natural solution for emission-free vehicles, discharging only water and requiring negligible change to current driving and refuelling habits, which is why 13 leading energy, transport and industry companies this week chose Davos... 

Davos boosts platinum fuel cell outlook with hydrogen council launch
Photo by Duane Daws
Anglo American CEO Mark Cutifani

PTM aims at positive Maseve cash flow by midyear, looking at interim financing options

By: Henry Lazenby     14th January 2017 To achieve positive cash flow and to maintain its working capital covenants under existing loan facilities, Vancouver-based Platinum Group Metals (PTM) estimates that it needs to source between C$5-million and C$15-million of additional funding. The company would weigh options, including... 

High Court exposes DMR as incompetent, irrational investment obstructor

By: Martin Creamer     11th January 2017 A judgement of the Gauteng division of the High Court of South Africa exposes the Department of Mineral Resources (DMR) as an irrational institution with a high degree of incompetence that obstructs the mining investment it is meant to facilitate, lacks energy in resolving issues, allows appeal... 

High Court exposes DMR as incompetent, irrational investment obstructor

Tharisa confident of meeting FY PGM, chrome output guidance

By: Megan van Wyngaardt     11th January 2017 JSE-listed platinum group metals (PGMs) and chrome producer Tharisa on Wednesday reported that its operations remain on track to meet the 2017 full-year production guidance of 147 000 oz of PGMs and 1.3-million tonnes of chrome concentrates, of which 300 000 t will be specialty grade chrome... 

Mineral ‘wrongs’ righted 

By: Martin Creamer     10th January 2017 A company that showed diligence in applying for mineral rights ended up getting mineral ‘wrongs’, a court has found. The Gauteng division of the High Court in Pretoria has ruled that Aquila Steel South Africa is entitled to the mineral right that South Africa’s Department of Mineral Resources... 

New Year heralds several senior management employments

By: Henry Lazenby     4th January 2017 Early 2017 corporate activity saw a slew of senior management appointments being made by miners. TSX- and NYSE-listed Tahoe Resources has appointed former Goldcorp president and CEO Chuck Jeannes to the board effective January 1. 

New Year heralds several senior management employments
Photo by Bloomberg
Cuck Jeannes

European shares ease as miners, banks fall

By: Reuters     29th December 2016 European shares opened slightly lower on Thursday as miners fell and Italian banks and Credit Suisse led banking shares lower. The pan-European STOXX 600 index was down 0.3%. Volumes were subdued during the last few days of the year. 

European shares ease as miners, banks fall

Zambia withholding $243m in tax refunds owed to mining firms

By: Reuters     28th December 2016 Zambia is withholding 2.4-billion kwacha ($243-million) of the 5-billion kwacha owed to mining companies in tax refunds because the correct documentation has not been provided, the tax authority said on Wednesday. Zambia's government began paying up to 800-million kwacha a month in Value Added... 

Zambia withholding $243m in tax refunds owed to mining firms
Photo by Bloomberg
A mine supervisor overlooks Metorox's Chibuluma copper mine, near Kitwe, Zambia

Global platinum production to rise marginally to 2020

By: Megan van Wyngaardt     22nd December 2016 Global platinum mine or metal content in ore production is set to rise from 6.4-million ounces in 2015 to 6.7-million ounces by 2020, representing a compound annual growth rate (CAGR) of 1.7%, the latest report from research and consulting firm GlobalData reveals. GlobalData mining research and... 

Global platinum production to rise marginally to 2020

Scotiabank Commodity Index set to end 2016 on high note

By: Henry Lazenby     21st December 2016 The Bank of Nova Scotia expects its benchmark Scotiabank Commodity Price Index to finish the year up 25%, with all sub-indices showing positive performance, the third largest Canadian banking group said Tuesday. The oil and gas index rose 55% in the year-to-November after both oil and natural gas... 

Scotiabank Commodity Index set to end 2016 on high note
Photo by Bloomberg
The surprise rally of bulk commodities, especially metallurgical coal, has lost some momentum in the final weeks of 2016

Ghana govt renews Goldplat licence  

By: Martin Creamer     20th December 2016 The Ghanaian government has granted Goldplat a three-year licence renewal to buy and deal in gold in the country. Gold Recovery Ghana, the London Aim-listed company’s wholly owned gold recovery subsidiary in Ghana, recovers gold from by-products of the mining process, providing an economic method... 

Ghana govt renews Goldplat licence
Goldplat CEO Gerard Kisbey-Green talks to Mining Weekly Online’s Martin Creamer at the company’s Benoni site. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

Booysendal North mine expansion to add 30 000 oz/y

By: Simone Liedtke     16th December 2016 The deepening of platinum producer Northam Platinum’s Booysendal North upper group two (UG2) mine is expected to add 30 000 oz/y of saleable 4E (platinum, palladium, rhodium and gold) product to the Booysendal mine when completed in 2018. 

Booysendal North mine expansion  to add 30 000 oz/y
INCREASING OUNCES The project is expected to increase North mine yearly production to 190 000 oz

Booysendal South to reach steady state in 2022

By: Simone Liedtke     16th December 2016 The six-year Booysendal South project – the biggest growth project for platinum group metals (PGMs) producer Northam Platinum and accounting for a R4.2-billion chunk of its R5.5-billion growth projects budget – is expected to reach steady-state production of 260 000 t/m in 2022. 

Booysendal South to  reach steady state in 2022
BOOYSENDAL SOUTH The area is contiguous to the Booysendal North mine and is likely to employ up to 2 000 people at full production

Electronic incident reporting, management system touted as best practice

By: Ilan Solomons     16th December 2016 For many years line managers and safety staff in the South African mining industry have tried to understand the relationship between incidents, minor injuries, lost-time injuries, serious injuries and fatal injuries. In the early 1980s, ‘loss control’ was the buzzword in mine safety and the Frank... 

Electronic incident reporting, management system  touted as best practice
RISK AWARENESS Any manager that knows of a hazard and the associated risk, as a reasonable person, will act to avert the harm that will result if this risk materialises

Northam Platinum growth projects on track

By: Simone Liedtke     16th December 2016 Platinum producer Northam Platinum’s strategically timed R5.5-billion growth projects are said to be on track, with good planning and sound execution set to enable it to fill any potential increased demand resulting from constrained South African supply. 

Northam Platinum growth projects on track
SUPPLY AND DEMAND The current challenging market conditions and stressed balance sheets are expected to constrain primary supply from South Africa, with global demand to grow

Work on Booysendal South Central access decline to start in April

By: David Oliveira     16th December 2016 Platinum producer Northam Platinum earlier this month awarded JSE-listed Murray & Roberts Cementation the Phase 1 contract for the Mpumalanga-based Booysendal South Central complex, a new mine that will be established on the same mining lease as Booysendal platinum mine. Murray & Roberts... 

Zondereinde smelter expansion due H2 2017

By: Simone Liedtke     16th December 2016 Work on integrated platinum-group metals (PGMs) producer Northam Platinum’s Zondereinde smelter expansion project to increase the smelter’s capacity remains scheduled for completion by the second half of 2017. The 16-month project started in February and has a R750-million budget, of which, to... 

Zondereinde mine, South Africa

By: Sheila Barradas     15th December 2016 A platinum group metals mine, on the western limb of the Bushveld Complex, an estimated 30 km south of Thabazimbi, in South Africa’s Limpopo province. 

Zondereinde mine, South Africa
Photo by Northam Platinum
Inside the smelter at Zondereinde. Northam is currently expanding the existing smelter at to create capacity for output from its various growth projects.

Eastplats cancels private placement

By: Natasha Odendaal     14th December 2016 Dual-listed Eastern Platinum (Eastplats) on Wednesday terminated its planned $10.32-million raising after failing to reach agreement on the final terms and conditions sought by the company in a private placing with an undisclosed party. Eastplats had planned a nonbrokered private placement of... 

Platinum fuel-cell plant being built in Korea by Implats project supplier

By: Martin Creamer     13th December 2016 The company that is building South Africa’s first multi-megawatt platinum-catalysed fuel-cell power plant in South Africa is simultaneously building an even larger fuel-cell power plant in Korea under a renewable energy classification. Doosan Fuel Cell America, which is laying on an eventual 20... 

Platinum fuel-cell plant being built in Korea by Implats project supplier
Photo by Duane Daws
Doosan Fuel Cell America VP Eric Strayer

Atlatsa reports fatality at Bokoni mine

By: Creamer Media Reporter      13th December 2016 Dual-listed Atlatsa Resources on Tuesday reported a fatality at the Brakfontein shaft of its Bokoni mine, near Polokwane. The employee, a miner’s assistant, was fatally injured last week in what the company described as a water-related incident. 

AMCU blasts Zuma over Marikana plan

By: African News Agency      13th December 2016 The Association of Mineworkers and Construction Union (AMCU) president, Joseph Mathunjwa, on Tuesday blasted President Jacob Zuma for announcing the implementation of Farlam Commission of Inquiry’s recommendations without consulting affected families and Lonmin mine workers. Mathunjwa said in... 

Platinum marketing needs collaboration – Sibanye

By: Martin Creamer     12th December 2016 Platinum marketing is in urgent need of the correct coordination, collaboration and cooperation with immediate consideration needing to be given to encouraging, igniting and catalysing own-requirement growth. With gross metal demand having seen no growth in the last ten years, pressure on the... 

Platinum marketing needs collaboration – Sibanye
Photo by Duane Daws
Sibanye VP strategic marketing Anthea Bath

Eskom energises 500 MVA transformer at Rustenburg substation, platinum industry to benefit 

By: Anine Kilian     12th December 2016 State-owned Eskom has energised and commissioned the first of two 500 MVA power transformers at the newly built Ngwedi substation, in Rustenburg. The transformer marks a significant step towards the completion of the Medupi Power Station Integration Project and will provide improved network... 

Lonmin must improve housing plan or face losing its mining rights

By: News24Wire      12th December 2016 The Department of Mineral Resources plans to ask mining giant Lonmin for a compliant housing plan and may revoke the company's mining rights if it doesn't receive it, President Jacob Zuma said on Sunday. Zuma was giving an update on steps taken by various government departments to implement the... 

South Africa must wake up to fuel cell race or risk losing out  

By: Megan van Wyngaardt     9th December 2016 South Africa is in a global race in fuel cell development and should not consider itself “special”, as there are a number of other countries that could reap benefits from their fuel cell plans far sooner, an analyst warned on Friday. Speaking during a panel discussion on the impact of fuel cell... 

South Africa must wake up to fuel cell race or risk losing out
4th Energy Wave fuel cell analyst Kerry-Ann Adamson talks about South Africa in the race for fuel cell development. Cameraperson and editing: Nicholas Boyd 9/12/16

Stillwater deal runs deep

By: Martin Creamer     9th December 2016 The acquisition of America’s Stillwater Mining has the potential to put South Africa’s Sibanye on the inside track of low-cost mechanised primary mining as well as provide it with deep insight into secondary mining – the recycling of platinum-group metals (PGMs). Both these inputs will help... 

Stillwater deal runs deep
The US assets Sibanye is buying

Chinese firm hits Eastplats with civil claim

By: David Oliveira     9th December 2016 China-based precious metals mining services provider Hebei Zhongheng Tianda Platinum (HZT) has filed a notice of civil claim against dual-listed Eastern Platinum (Eastplats) and several of its subsidiaries. The civil claim, filed in Canada’s British Columbia Supreme Court, in Vancouver, relates... 

Murray & Roberts secures Phase 1 Booysendal South Central complex contract

By: David Oliveira     9th December 2016 JOHANNESBURG (miningweekly.com) – Platinum producer Northam Platinum this week awarded JSE-listed Murray & Roberts Cementation the Phase 1 contract for the Mpumalanga-based Booysendal South Central complex, a new mine that will be established on the same mining lease as Booysendal platinum mine.... 

Implats selling chrome interest

     9th December 2016 Platinum mining company Impala Platinum (Implats) is disposing of its 65% interest in Impala Chrome, a chrome beneficiation operation that produces 200 000 t of chrome concentrate a year by processing four-million tonnes of tailings a year. As announced in a newspaper advertisement, Implats’... 

Sibanye to acquire US platinum miner for R30bn

By: Martin Creamer     9th December 2016 Precious metals mining company Sibanye Gold has entered into a definitive agreement to acquire all of the outstanding common stock of Stillwater Mining Company of the US for R30-billion ($2.2-billion). The $18-a-share offer represents a premium of 23% to Stillwater’s prior day closing share... 

Sibanye to acquire US platinum miner for R30bn
Photo by Duane Daws
Sibanye CEO Neal Froneman

New automatic system safeguards equipment

By: Nadine James     9th December 2016 Early detection is critical to combat electrical fires in confined spaces and mitigate the risk of injuries and fatalities while limiting high-value equipment damage and system downtime, says environmental solutions provider I-CAT. To eliminate the difficulties associated with fire detection in... 

New automatic system safeguards equipment
DOUSING AGENT The cylinder is filled with a nonconductive extinguishing agent called CLEAVOS 1230

New engine oil promises significant cost savings

By: David Oliveira     9th December 2016 Global petroleum company Shell’s latest heavy-duty diesel engine oil, Rimula R4L, coupled with its customer value proposition (CVP), aims to improve cost efficiency at mining operations amid the current tough economic climate. Shell South Africa commercial lubricants sales GM Anton Niemann... 

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