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Platinum Group Metals News

Northam Platinum’s funded R6.6bn BEE deal

By: Creamer Media Reporter      Updated 3 hours ago Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about Northam Platinum’s fully funded R6.6-billion black economic-empowerment deal. 

Less Eskom coal, fewer S African diamonds, less refined platinum, lower iron-ore sales – Anglo

By: Martin Creamer     Updated 5 hours ago Diversified mining company Anglo American on Thursday reported 12% lower coal production for South Africa’s State electricity utility Eskom, 31% less refined platinum production, 4% lower iron-ore exports and fewer diamond carats from South African diamond mines, in the three months to September... 

Less Eskom coal, fewer S African diamonds, less refined platinum, lower iron-ore sales – Anglo
Photo by Duane Daws
Anglo CEO Mark Cutifani

Amplats lifts FY output guidance on lower Q3 post-strike ramp-up losses

By: Creamer Media Reporter The post-strike ramp-up in production at Anglo American Platinum’s (Amplats’) Rustenburg, Union and Amandelbult mines was completed a month ahead of schedule, with normal output having resumed by September. In its third-quarter production report, released on Thursday, the platinum miner noted... 

Waterberg JV PFS on track

By: Leandi Kolver The prefeasibility study (PFS) for TSX- and NYSE-listed Platinum Group Metals’ (PTM’s) Waterberg Joint Venture (JV) project on the northern limb of the Bushveld Complex is on track, with completion targeted for the second quarter of next year, PTM said on Wednesday. The company noted that an... 

Capital-raise puts novel underpin on Northam Platinum’s funded R6.6bn BEE deal

By: Martin Creamer Platinum mining company Northam on Wednesday concluded a fully funded ten-year R6.6-billion black economic-empowerment (BEE) equity transaction underpinned by a R4.6-billion capital raising, which has the potential to position the JSE-listed company as a fully integrated, fully empowered South... 

Capital-raise puts novel underpin on Northam Platinum’s funded R6.6bn BEE deal
Photo by Duane Daws
Northam Platinum CEO Paul Dunne

Wesizwe reports first fatality at Bakubung

By: Natasha Odendaal Work on the shaft sinking operations on the main and ventilation shafts at the Bakubung platinum mine site, in Rustenburg, was suspended after Wesizwe on Monday reported its first fatality. A contractor employed as a jumbo operator was fatally injured on October 17 during the shaft sinking... 

RBPlat’s Styldrift project falls further behind schedule

By: Natasha Odendaal JSE-listed Royal Bafokeng Platinum’s (RBPlat’s) ongoing Styldrift I expansion project has fallen over two months behind schedule. The project, which had a targeted production ramp-up start date of the third quarter of 2015 and had been set to reach steady-state production by July 2018, was... 

RBPlat’s Styldrift project falls further behind schedule
Photo by Duane Daws
RBPlat Styldrift

Middelburg smelter achieves Q3 profit increase despite strike

By: Leandi Kolver Despite the National Union of Metalworkers of South Africa (Numsa) strike in July and the post-strike production ramp-up in August, Aim- and AltX-listed Jubilee Platinum’s Middelburg smelter operation, in Mpumalanga, increased its profit by 4.5% quarter-on-quarter for the three months ended... 

Middelburg smelter achieves Q3 profit increase despite strike
Photo by Duane Daws
Jubilee Platinum CEO Leon Coetzer

RSR investigating Rustenburg locomotive, bus collision

By: Leandi Kolver The Railway Safety Regulator (RSR) on Friday said it was investigating a collision between a locomotive and a bus carrying 45 people at a platinum mine, in Rustenburg, on Friday morning. The accident occurred on a mining siding when the bus transporting mineworkers stalled on the railway tracks,... 

RSR investigating Rustenburg locomotive, bus collision

Riddle of inventory levels keeps platinum investors shy

By: Reuters Investors are unlikely to rush back into platinum any time soon after a minimal price reaction to its biggest-ever supply shock highlighted a major problem: no-one knows how much metal exists above ground or more importantly who holds it. Analysts predicted a surging market as a record five-month... 

Spin-filter technology reduces dust at platinum mine

By: Bruce Montiea With the local mining industry facing increasing pressure to contain costs and maintain profits while overcoming several industry challenges, such as ensuring clean and filtered underground air, mining houses are looking to the engineering industry to offer innovative ways of dealing with these... 

Spin-filter technology  reduces dust at platinum mine
MOGALAKWENA MINE, NORTH WEST Spin filters are an effective solution to dust build-up at mines

Renewable energy a tough sell for prospective RoF developers

By: Henry Lazenby Among the many challenges facing as many as 20 mining companies holding claims in the Ring of Fire (RoF) mineral region of Northern Ontario, the most significant might be the limited infrastructure. However, besides having to deal with exploration, project planning, First Nations negotiations and... 

Precious metals markets influenced by monetary conditions, industrial metal prices remain detached – report

By: Leandi Kolver While precious metal markets were influenced by monetary conditions, industrial metals have managed to remain somewhat detached from generic economic conditions, with prices being determined by fundamentals of supply and demand that were, in many cases, specific to each metal, French corporate... 

Precious metals markets influenced by monetary conditions, industrial metal prices remain detached – report

Narrowing of current account deficit to be slow, economist warns

By: Terence Creamer Corporate and investment banking group Absa Capital says that, while the “worst is probably over”, South Africa’s current account deficit is likely to narrow only slowly in the coming year, owing to weakening terms of trade. Economist Peter Worthington noted that, at 6.2% of gross domestic... 

Narrowing of current account deficit to be slow, economist warns
Absa Capital economist Peter Worthington

LME takes charge of London platinum, palladium 'fixes', eyes on gold

By: Reuters The London Metal Exchange, owned by Hong Kong Exchanges and Clearing, will take charge of London's platinum and palladium pricing, also known as "fixes", from December 1, replacing a teleconference with an electronic platform. The unexpected move marks a stunning comeback for the LME, which... 

Profit shifting report false – Lonmin

By: Sapa A report claiming Lonmin is engaging in two transfer pricing arrangements is misleading and false, the company said on Thursday. It was responding to a report titled "The Bermuda connection: Profit shifting and unaffordability at Lonmin 1999-2012", released by the Alternative Information and... 

R50m virtual reality centre set to revolutionise mine design

By: Martin Creamer The University of Pretoria’s new virtual reality mine design centre, which is on track to go into test mode in April, is set to revolutionise both surface and underground mine design. A total of R50-million is being invested in the centre, which will be put into a three-month test phase ahead of... 

R50m virtual reality centre set to revolutionise mine design
Photo by Creamer Media
Prof Ronny Webber-Youngman (right) and Martin Creamer

Mick Davis X2 now sitting on nigh-$5bn war chest

By: Martin Creamer Old Xstrata recollections were reignited on Tuesday as former Xstrata CEO Mick Davis announced that his new X2 Resources had garnered in another $1-billion to take the incipient mining company towards financial reserves of close on $5-billion. A number of new investors have taken the X2 total up... 

Mick Davis X2 now sitting on nigh-$5bn war chest
Photo by Duane Daws
Flashback Mick Davis picture

Aquarius sale of Blue Ridge, Sheba’s Ridge terminated

By: Natalie Greve Aquarius Platinum will no longer be offloading its indirect interests in Blue Ridge Platinum and Sheba’s Ridge Platinum to a Chinese consortium, announcing on Wednesday that certain South African regulatory approvals had “regrettably” not yet been granted and that the buyer had, this week,... 

S Africa considers declaring certain minerals as 'strategic'

By: Reuters South Africa's mines minister Ngoako Ramatlhodi said on Tuesday he was considering declaring certain minerals such as coal and iron-ore as "strategic" for the country. "We haven't classified any but it is provided for under the mineral bill which is before the president. If that bill is signed... 

S Africa considers declaring certain minerals as 'strategic'
Photo by Duane Daws
Mineral Resources Minister Ngoako Ramatlhodi

Labour strife, safety concerns push South Africa platinum mechanisation

By: Reuters For decades, production in South Africa's platinum mines has rested on the muscular shoulders of men risking life and limb to drill into the rock face with jackhammers. Three years of labour upheaval and a political push to make the shafts safer and transform the low-wage workforce have set in... 

Labour strife, safety concerns push South Africa platinum mechanisation
Photo by Duane Daws
Cadiz Corporate Solutions fund manager Peter Major

Platinum producers top mining/metals companies in sustainability data transparency index

By: Tracy Hancock The 2014 IRAS Sustainability Data Transparency Index (SDTI) report has been published, with platinum producer Anglo America Platinum (Amplats) topping the mining/metals companies list and ranking second out of the more than 300 companies assessed throughout South Africa and across all sectors in... 

Aquarius reports fatality at Kroondal

By: Natalie Greve Aquarius Platinum’s management has suspended operations at the Kroondal mine’s Kwezi shaft, pending a technical review of the area. This after team leader Pedro Tafulane Nhabinde was fatally injured in a fall of ground incident on Saturday. 

Aquarius reports fatality at Kroondal

Juniors out of favour, face uphill battle to generate own funds

By: Natasha Odendaal Junior mining companies in South Africa have fallen out of favour with investors and have been left to find their own way to profitability, a panel at the 2014 Joburg Indaba revealed on Thursday. Debating the challenges of growing a junior mining project, Submex Investments MD Hugh Callaghan... 

Juniors out of favour, face uphill battle to generate own funds
Photo by Duane Daws
Niel Pretorius

Constructive winds blowing in South African mining – Goldman Sachs

By: Martin Creamer There are signs of very constructive winds blowing in the South African mining sector despite many being overwhelmed by the negative headlines, says Goldman Sachs International MD Colin Coleman. Coleman, who took part in a panel discussion on the first day of the Joburg Indaba, predicts a... 

Constructive winds blowing in South African mining – Goldman Sachs
Photo by Duane Daws
Goldman Sachs' Colin Coleman

S Africa mine output down 10.1% in August

Mine production in South Africa decreased 10.1% year-on-year in August, as platinum group metals (PGMs) production fell 45%, diamond output 30.2% and other nonmetallic minerals 24.1%. Seasonally adjusted mining production fell 3.1% month-on-month in August, while mine output, on a seasonally... 

S Africa mine output down 10.1% in August

Ivanhoe blasts media report alleging South African transgressions

By: Henry Lazenby Ivanhoe Mines on Wednesday hit back at a media report by Bloomberg that, among other accusations, alleged the company had rigged representative elections to a community trust that was set up as part of a broad-based black economic-empowerment (BBBEE) deal that gave 20 local communities a 26%... 

Ivanhoe blasts media report alleging South African transgressions

Modernise South African mining or bust – Valli Moosa

By: Martin Creamer The South African mining industry needed to undergo a fundamental phase in modernisation in every way, Anglo American Platinum (Amplats) independent chairperson Valli Moosa said on Wednesday. The former South African Cabinet Minister and apartheid struggle veteran told a key Joburg Indaba... 

Modernise South African mining or bust – Valli Moosa
Photo by Duane Daws
Amplats chairperson Valli Moosa

Bokoni opencast ops suspended, SAPS deployed amid community violence

By: Leandi Kolver The situation in the area surrounding platinum miner Atlatsa Resources’ Bokoni mine, in Limpopo, remained tense on Wednesday afternoon, with police having been deployed to the area, following the fatal injury of a community member in a blasting incident at the mine on Monday, spokesperson... 

Bokoni opencast ops suspended, SAPS deployed amid community violence

Lonmin operations successfully ramp up to full production

By: Creamer Media Reporter Platinum miner Lonmin’s operations have returned to full production ahead of schedule. The company reported on Wednesday that tonnes mined in August and September had exceeded production volumes for the comparable months in 2013 – one-million tonnes in August 2013 and 1.04-million tonnes in... 

Lonmin operations successfully ramp up to full production

RBPlat reports fatality at Styldrift 1 project

By: Natalie Greve An employee has died at Royal Bafokeng Platinum’s (RBPlat’s) Styldrift I project, in the North West, following a shaft-related incident on Saturday.  All normal underground operations had been suspended pending a full investigation into the incident, in which mine contractor Shaft Sinkers stage... 

RBPlat reports fatality at Styldrift 1 project
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