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Platinum Group Metals News

Northam narrows H1 loss, lifts operating profit

By: Anine Kilian     24th February 2017 JSE-listed Northam Platinum has narrowed its loss to R226.6-million for the six months to December 31, compared with a loss of R273-million in the six months to December 31, 2015. Revenue rose 7.9% year-on-year to R3.5-billion, owing to a 19.1% increase in the revenue per platinum ounce sold and... 

Northam buys Glencore’s Eland mine for R175m; secures chrome marketing agreement

By: Anine Kilian     24th February 2017 JSE-listed Northam Platinum has acquired the Eland platinum mine from Glencore Operations South Africa for R175-million.  It has also concluded an exclusive chrome marketing agreement with Glencore International, which will market and sell chrome produced at Northam’s Zondereinde and Booysendal... 

Northam buys Glencore’s Eland mine for R175m; secures chrome marketing agreement
Northam Platinum CEO Paul Dunne

Global mining-sector resurgence predicted 

By: Ilan Solomons     24th February 2017 Given that the global economy is expected to grow by 3.4% this year and 3.5% in 2018, the health of global macroeconomics is good, which bodes well for a resurgence in the global mining industry during the course of this year. This is according to Standard Bank mining and metals research head Tim... 

Global mining-sector resurgence predicted
Standard Bank's Tim Clark and Sandra du Toit discuss their perceptions of the state of the global mining sector and give their predictions for the year ahead.

Rapid energy access needed in Southern Africa

     24th February 2017 The rebound in commodity prices should usher in new projects as well as the expansion of existing operations in Southern Africa’s mining industry, but the region, counteractively, has an insufficient power supply, says fast-track mobile turbine power provider APR Energy regional sales director... 

Hefty H1 losses paint depressed picture for Implats 

By: Ilan Solomons     23rd February 2017 Platinum miner Impala Platinum (Implats) has recorded a gross loss of R318-million for the six months to December 31, a significant increase on the loss of R40-million recorded in the six months to December 31, 2015. The group posted a headline loss of R508-million, compared with headline... 

Hefty H1 losses paint depressed picture for Implats
Impala Platinum acting CEO Gerhard Potgieter discusses the group’s consolidated interim results for the six months ended December 31, and how the company foresees the future of the platinum group metals market. Video and editing: Nicholas Boyd

Budget’s withholding tax rise may alter Sibanye’s dividend stance

By: Martin Creamer     23rd February 2017 The change in the withholding tax position introduced in Wednesday's Budget may result in precious metals mining company Sibanye changing its stance on dividends. Up to now, Sibanye’s first call on free cash after stay-in-business capital expenditure has been to pay dividends amounting to at... 

Budget’s withholding tax rise may alter Sibanye’s dividend stance
Photo by Duane Daws
Sibanye CEO Neal Froneman

Sibanye reports record operating profit, soaring earnings, good dividend

By: Martin Creamer     23rd February 2017 Precious metals mining company Sibanye on Thursday reported record operating profit of R10.5-billion for the six months and year ended December 31, 2016, a 60% increase on the previous year. Group operating profit of R5.1-billion for the second half of 2016 was 29% higher than for the comparable... 

Sibanye reports record operating profit, soaring earnings, good dividend
Photo by Duane Daws
Sibanye CEO Neal Froneman

Anglo targets further $1bn in cost, volume improvements in 2017

By: Ilan Solomons     21st February 2017 Diversified miner Anglo American is this year seeking an additional $1-billion in incremental net cost and volume improvements, while also aiming to return to an investment-grade credit rating and resume dividend payments. The group has already identified 75% of these targeted net cost and volume... 

Anglo targets further $1bn in cost, volume improvements in 2017
Anglo American is aiming to have capital expenditure maintained at $2.5-billion and stay-in-business capital increased to $1.2-billion in 2017

Marikana mineworkers in court for 2012 incidents

By: African News Agency      21st February 2017 Eighteen Marikana mineworkers facing different charges following a violent strike in Marikana near Rustenburg in 2012, briefly appeared in the North West High Court on Monday. North West Judge president Monica Leeuw postponed the case to July 31, for the national director of public prosecution to... 

Pan African shares fall on fatality-linked mining suspension at Evander

By: Martin Creamer     20th February 2017 The share price of Pan African Resources fell by more than 8% in early trade on Monday after the company issued a stock exchange news service notice announcing a fatality-linked 55-day mining suspension of the Evander shafts where studies recently identified critical infrastructure issues... 

Pan African shares fall on fatality-linked mining suspension at Evander
Photo by Duane Daws
Pan African Resources CEO Cobus Loots

MAC laments Canada’s declining mining competitiveness

By: Henry Lazenby     17th February 2017 Canada's mining competitiveness is declining, while exploration and mining investment dollars are flowing offshore, a new report by the Mining Association of Canada (MAC) has found. “Very simply, Canada is not as attractive as it used to be for mineral investment and competition for those dollars... 

MAC laments Canada’s declining mining competitiveness
Photo by Agnico Eagle Mines
Agnico Eagle's Meadowbank mine, Nunavut

Convention aims to bridge communication gap

By: Simone Liedtke     17th February 2017 As a continually evolving industry that operates globally, sometimes the biggest difficulty for the mining industry is getting the right people together in one place to discuss their challenges and find ways to address and, ultimately, overcome them, says Prospectors and Developers Association of... 

Convention aims to bridge communication gap
EIGHTY-FIFTH CONVENTION Prospectors and Developers Association of Canada's 2017 convention will feature more than 400 exhibitors at the investors exchange and 500 at the trade show

Digitisation of project management imperative for project success

By: Victor Moolman     17th February 2017 Business management consultant SSG Consulting will continue to focus on project management and execution as its core business this year, with the intent of increasing its drive to further improve operational throughput of organisations and projects by 30% to 50%, despite the challenges facing the... 

Digitisation of project management imperative for project success
Photo by Duane Daws
MINE UPGRADES The adoption of big data, cloud, business intelligence, artificial intelligence, mobile technology and the digitisation of business will be the primary driver of successful organisations over the next five years

Group to split to improve customer focus

     17th February 2017 Swedish sustainable productivity solutions provider Atlas Copco will create a new company focused on mining and civil engineering, should it receive backing at its annual general meeting in April. 

Group to split to improve customer focus
STREGTHENING FOCUS Mining and Rock Excavation Technique and Construction Tools are expected to benefit from a more focused management responsibility

Localised conveyor belt supply to boost operational efficiencies

By: Simone Liedtke     17th February 2017 Over the past three to four years, metal prices have dropped precipitously and North American mining operators have been forced to implement more operational efficiencies, states conveyor belt vulcaniser product provider Shaw Almex CEO Tim Shaw. 

Localised conveyor belt supply to boost operational efficiencies
CONVEYOR BELT SOLUTION Many operators have turned to offshore conveyor belt suppliers, resulting in premature product failures and unreliable supply

New US President may benefit the resources sector

By: Henry Lazenby     17th February 2017 While US President Donald Trump is likely to lower US corporate taxes, bringing US dollars back into the country and rebuilding American infrastructure through a massive $1-trillion spending programme, Trump is coming in at the “US midnight” Euro Pacific Capital analyst Peter Schiff says. Markets... 

New US President may benefit the resources sector

Rehabilitation plan important for proper project management

By: Victor Moolman     17th February 2017 Rehabilitation should be included and budgeted for in a project’s initial mine plan to ensure proper project management over the entire mine life cycle, says nonprofit organisation Land Rehabilitation Society of South Africa (LaRSSA) president Raina Hattingh. 

Rehabilitation plan important for proper project management
Photo by Victor Moolman
OFTEN NEGLEGTED Unfortunately, the need for including rehabilitation components early on in mine plans is often neglected in South Africa

Major South African coal extension project on cards – South32

By: Martin Creamer     16th February 2017 A decision will be taken in the June quarter on go-ahead for the Klipspruit Life Extension coal project in Mpumalanga, which is said to have robust economics. The original BHP Billiton capital expenditure (capex) of $500-million-plus for the two-year development has been more than halved under... 

Major South African coal extension project on cards – South32
South32 CEO Graham Kerr

Amplats anticipates continued growth in fuel cells

By: Megan van Wyngaardt     15th February 2017 Anglo American Platinum (Amplats) expects the autocatalyst sector to remain a significant driver of platinum demand. In the last year, autocatalyst demand continued to grow, with sales in Western Europe up 6%. This, CEO Chris Griffith said, was as a result of slightly higher loading, owing to... 

Amplats sells Union mine, Masa Chrome to Siyanda Resources for R400m; swings to FY profit

By: Megan van Wyngaardt     15th February 2017 Owing to the successful repositioning of its platinum portfolio, Anglo American Platinum (Amplats) has swung from a loss of R126-million in 2015, to headline earnings of R1.87-billion for the year ended December 31, 2016. The portfolio repositioning includes the completion of its divestment in... 

Amplats sells Union mine, Masa Chrome to Siyanda Resources for R400m; swings to FY profit
Photo by Duane Daws
Amplats CEO Chris Griffith

Wesizwe appoints new CEO as Gao steps down

By: Megan van Wyngaardt     15th February 2017 Jianke Gao has resigned as CEO and executive director of JSE-listed Wesizwe Platinum, effective February 14. He will officially leave the company within two months. 

Platfields to delist from JSE

By: Megan van Wyngaardt     14th February 2017 Owing to protracted litigation, embattled precious metals exploration company Platfields will not pursue a reverse listing, with liquidation negotiations having been terminated. It now expects its listing on the JSE to be terminated. Last year, another party had implemented liquidation... 

Sylvania posts record H1 production 

By: Megan van Wyngaardt     14th February 2017 Aim-listed Sylvania Platinum achieved record platinum group metals (PGMs) production of 35 819 oz for the six months to December 31. This resulted in the company posting earnings before interest, taxes, depreciation and amortisation (Ebitda) of $9.22-million for the six months, compared with... 

Implats expects to swing to H1 loss

By: Megan van Wyngaardt     13th February 2017 Impala Platinum on Monday said it expects to post a headline loss a share of between 65c and 79c for the six months ended December 31, compared with a profit of 53c in the six months to December 31, 2015. The company noted that the main reason for the decline in headline earnings per share (HEPS)... 

Stillwater deal advances as Sibanye grasps $2.6bn bridge finance nettle

By: Martin Creamer     13th February 2017 Precious metals mining company Sibanye on Monday announced that it had successfully closed the syndication of the bridge facilities to support its acquisition of Stillwater Mining Company of the US. Sibanye said in a Johannesburg Stock Exchange news service announcement that the syndication... 

Stillwater deal advances as Sibanye grasps $2.6bn bridge finance nettle
Photo by Duane Daws
Sibanye CEO Neal Froneman

Wellgreen sells noncore Ontario assets, completes Yukon metallurgical testwork

By: Henry Lazenby     11th February 2017 Yukon Territory-focused Wellgreen Platinum has sold a suite of noncore assets held by subsidiary Ursa Major Minerals to a private company for C$200 000, payable over three years. Ursa holds the Ontario properties, comprising the Shakespeare, Shining Tree, Fox Mountain, Stumpy Bay, Porter Baldwin... 

Enormous global demand on way for copper, platinum, zinc 

     10th February 2017 Enormous global demand is building for copper, platinum and zinc, driven by new technology, mitigation of health risks in hospitals and agricultural augmentation. Mining Weekly editor Martin Creamer speaks to Creamer Media's Sashnee Moodley about the developments. 

Enormous global demand on way for copper, platinum, zinc
Enormous global demand on way for copper, platinum, zinc

New Bill on way to boost State involvement in mining

By: Martin Creamer     10th February 2017 A new Bill is to be presented to the South African Parliament to strengthen the State’s role in the industry, currently dogged by legislative, regulatory and administrative tensions between government, business and labour. The Mining Company of South Africa Bill will be presented to Cabinet and... 

New Bill on way to boost State involvement in mining
President Jacob Zuma

Analyst bemoans beneficiation tardiness, warns South Africa could lose out

By: Ilan Solomons     10th February 2017 The process of beneficiation of minerals in South Africa and the dialogue around it has been taking place for years, however, platinum beneficiation has been taking place at a “snail’s pace”, states local independent research organisation Mapungubwe Institute (Mistra) researcher Zamanzima... 

Analyst bemoans beneficiation tardiness, warns  South Africa could lose out
Photo by Duane Daws
FUEL CELL POWERED FORK LIFT Fuel cell technology is a ‘glaring’ way in which an increase in demand for platinum can be realised

Call to review charter’s proposed home ownership model

By: Sascha Solomons     10th February 2017 Corporate monitoring organisation Bench Marks Foundation has long proposed that all platinum producers in South Africa, which promote private home ownership in line with the proposed Mining Charter, review this model, says executive director John Capel. He says the organisation’s surveys have... 

GM, Honda in JV to manufacture hydrogen fuel cell systems

By: Ilan Solomons     10th February 2017 US multinational corporation General Motors (GM) and Japanese multinational corporation Honda last week announced the establishment of the automotive industry's first manufacturing joint venture (JV) to mass produce an advanced hydrogen fuel cell system that will be used in future products from... 

GM, Honda in JV to manufacture  hydrogen fuel cell systems
JOINING HANDS Honda’s Toshiaki Mikoshiba and GM’s Mark Reuss showcase their jointly developed next generation fuel cell stack system

Market research company publishes Rhodium report

     10th February 2017 Market research company OrbisResearch has published ‘Global Rhodium Sales Market 2017 Industry Trend and Forecast 2021’, which it says provides a meticulously undertaken study, comprising in-depth analysis from experts with proven credentials and a high standing within the research fraternity.... 

Market research  company publishes Rhodium report
UNION MINE Rhodium is one of the platinum-group metals produced by Anglo American Platinum's Union mine, in Rustenburg

Miners report improved production results

     10th February 2017 Platinum producer Lonmin reports a 71% decline in tonnes lost as a result of Section 54 safety stoppages in the three months to December 31, 2016. In its unaudited production results for the first quarter of 2017, Lonmin highlights that its safety strategy remains centred on the belief that zero... 

Miners report improved production results
IMPROVED PERFORMANCE Anglo American Platinum's total platinum production (metal-in-concentrate) was up 2% to 610 100 oz for the fourth quatter of 2016

Palladium demand high, lower S Africa platinum output forecast

     10th February 2017 German technology group Heraeus Metal Management has published a precious metals forecast for 2017, highlighting that platinum remains threatened by excess supply, while demand is high for palladium, which must defend its high price level in the year ahead. The price of palladium is expected to... 

Palladium demand high, lower S Africa platinum output forecast
SOUTH AFRICAN OUTLOOK Heraeus expects that the industry is likely to see slightly lower platinum production in South Africa this year

Platinum market could see surplus in 2017

     10th February 2017 The platinum market could see a surplus in 2017 for the first time in six years, owing to a predicted fall in automotive and jewellery demand,  platinum-group metals (PGMs) authority Johnson Matthey states. In its latest ‘PGM Market Report’, which is updated on a six-monthly basis in May and... 

Platinum market could see surplus in 2017
PGM MARKET REPORT The platinum market could see a surplus in 2017 for the first time in six years

Platinum still a substantial contributor to local economy

By: Sascha Solomons     10th February 2017 South Africa accounts for about 96% of all known global reserves of platinum-group metals (PGMs); therefore, stability and sustainability in its mining sector are essential for the platinum industry, says law firm Hogan Lovells partner and mining head Warren Beech. “The mining industry in general... 

Platinum still a substantial  contributor to local economy
WARREN BEECH The mining industry in general remains a substantial contributor to the South African economy and the platinum mining industry makes a significant contribution

US platinum jewellery marketer turns 25

     10th February 2017 The US branch of worldwide platinum jewellery marketing organisation Platinum Guild International (PGI), an organisation funded by leading South African platinum producers and refiners, will celebrate its twenty-fifth anniversary this year with a series of new initiatives. In 1992, PGI, founded... 

US platinum jewellery  marketer turns 25
NEW MARKETS Platinum Guild International expanded in 1992 to the US to introduce platinum to a new generation

Signs of hope for the platinum industry

By: Kim Cloete     9th February 2017 Following a few tough years, experts believe the platinum sector’s future looks bright, with a strong case for investing in the precious metal. World Platinum Investment Council CEO Paul Wilson this week said traditional investors had walked away from platinum as an investment from 2015 to 2017,... 

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