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Platinum Group Metals News

Parliament delays passing key mining law

By: Reuters     Updated 2 hours 33 minutes ago South Africa's Parliament will miss a December target to pass changes to mineral resource laws, seen as key for greater investor certainty, a senior Parliamentary official said on Tuesday. In September, Mines Minister Mosebenzi Zwane told a mining conference in Australia that the new target date... 

Implats CFO steps down

By: Natasha Odendaal     21st November 2017 JSE-listed Impala Platinum’s (Implats’) group CFO and executive director Brenda Berlin has resigned, effective February 28, 2018, to take‐up a new corporate role aligned to her current aspirations. Implats has initiated the process to identify a suitable successor to Berlin, who had joined... 

Implats CFO steps down
Photo by Duane Daws
Implats CFO Brenda Berlin

WPIC forecasts yet another platinum deficit in 2018

By: Megan van Wyngaardt     21st November 2017 A global platinum deficit of 275 000 oz is expected in 2018, further reducing the availability of above ground stocks of the metal, which have contributed about 2.5-million ounces in the last year, the World Platinum Investment Council (WPIC) said on Monday. “[This] represents the sixth year that... 

WPIC forecasts yet another platinum deficit in 2018
WPIC research director Trevor Raymond

Nornickel sees capex rising by 2019-2020

By: Reuters     20th November 2017 Russia's Norilsk Nickel plans to increase capital expenditure to an average of $2.3-billion to $2.5-billion a year in 2019 and 2020 from about $2-billion in 2018 due to an environmental project and infrastructure modernisation, it said on Monday. Nornickel, part-owned by Russian businessman... 

Norilsk Nickel to increase 2017 palladium purchases

By: Reuters     20th November 2017 Russia's Norilsk Nickel, the world's top palladium producer, said it plans to boost purchases of palladium for its fund from Russian central bank reserves to help ease shortages in the market. Head of Global Sales and Marketing Markus Meurer told Reuters ahead of a presentation to investors that... 

Hernic’s improved performance in October sets pace for Q4

By: Megan van Wyngaardt     20th November 2017 The performance of dual-listed Jubilee Platinum’s Hernic operations improved significantly in October, with 45 596 t of material processed to produce 1 427 oz of platinum-group metals (PGMs) – a 22% month-on-month increase. Jubilee noted that this was in line with the company’s current focus on... 

'A good number of investors' considering countries offering better return-on-investment prospects than SA

By: Dylan Slater     17th November 2017 Mining policies imposed by the Department of Mineral Resources (DMR) on local industry are creating increased uncertainty for investors, a growing number of whom are considering investing in mining projects and exploration in other countries, with a greater chance of a healthier return on... 

'A good number of investors' considering countries offering better return-on-investment prospects than SA
Photo by Duane Daws
PAUL MILLER A significant volume of additional capital needs to be earmarked for every new mining project to account for risk associated with policy uncertainty

Nkwe resumes trading on the ASX

By: Esmarie Swanepoel     16th November 2017 South Africa-focused Nkwe Platinum has resumed trading on the ASX after nearly a year, following the lifting of a Section 47 notice on its Garatau project, in Limpopo. The South African Department of Mineral Resources (DMR) issued the Section 47 notice in October last year, threatening to... 

Companies from Amplats to StanChart on alert amid Zimbabwe coup

By: Bloomberg     15th November 2017 Companies are being vigilant over their operations in Zimbabwe after military vehicles descended on the capital of Harare and the army seized power, threatening President Robert Mugabe’s 37-year rule. Nedbank Group sent some South African employees home from Zimbabwe, the Johannesburg-based... 

Atlatsa incurs $292m loss

By: Martin Creamer     14th November 2017 Toronto- and Johannesburg-listed platinum-mining company Atlatsa, which has platinum assets on the northern and eastern limbs of the Bushveld Complex, incurred a net loss of $292.6-million in the nine months to September 30, when its liabilities exceeded its assets by $142.5-million. The main... 

Atlatsa incurs $292m loss
Photo by Duane Daws
Atlatsa chief commercial officer Joel Kesler

Sibanye declares US resource under Proudly South African code

By: Martin Creamer     14th November 2017 Precious-metals mining company Sibanye-Stillwater has completed a Competent Person’s Report on its platinum group metals (PGM) mineral assets, in Montana, in the United States. The report has been compiled under the South African Code for the Reporting of Exploration Results, Mineral Resources... 

Sibanye declares US resource under Proudly South African code
Photo by Duane Daws
Sibanye-Stillwater CEO Neal Froneman

Tharisa expects higher earnings

By: Martin Creamer     14th November 2017 Platinum group metals (PGM) and chrome coproducer Tharisa on Tuesday informed the market of higher upcoming 2017 financial year earnings. The company, headed by CEO Phoevos Pouroulis, foresees substantially higher earnings per share and headline earnings per share in US cents of 21c to 23c,... 

Tharisa expects higher earnings
Tharisa CEO Phoevos Pouroulis

Jubilee’s aspiration to enter mid-cap space tangible – chair

By: Megan van Wyngaardt     10th November 2017 Describing the financial year to June 30 as an exceptional period of growth for Jubilee, chairperson Colin Bird on Friday said the miner, which brought a number of projects online during the period, had established itself as a diversified producer of metals, including chrome and platinum. Through... 

South Africa crucial to global chrome supply, Chromium 2017 hears 

By: Martin Creamer     10th November 2017 South Africa is an irreplaceable supplier of chrome ore and ferrochrome, which is, in turn, an irreplaceable component of China-dominated stainless steel production, global delegates to last week’s well-attended Chromium 2017 conference heard. South Africa, as the dominant global chrome producer,... 

South Africa crucial to global chrome supply, Chromium 2017 hears
Tharisa Minerals COO Michelle Taylor at Chromium Conference covered by Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

Employees demand Solidarity’s recognition as trade union at Lonmin

By: Anine Kilian     10th November 2017 On Friday, Solidarity members and other Lonmin employees demanded, in a manifesto, that the recognition of Solidarity and other representative trade unions should be reinstated immediately. Since November 5, the Association of Mineworkers and Construction Union has been the only trade union... 

Platinum miner Lonmin adds more security due to protests around mines

By: Reuters     9th November 2017 South African-focused Lonmin said workers employed by its community shareholder Bapo Ba Mogale were protesting around the platinum miner's operations, leading to delays in production at two shafts. "We are experiencing minimal challenges as some buses to our E2 and E3 shafts are running later... 

Surviving on $3/oz has Lonmin in race against time

By: Bloomberg     9th November 2017 Every day, Lonmin sends thousands of miners hundreds of meters below ground, where they use drills, diggers and explosives to extract about 40 000 metric tons of rock laden with precious metals. The ore is milled, crushed, concentrated, smelted and refined in a month-long process that eventually... 

Sibanye-Stillwater, unions agree on three-year wage deal for Kroondal

By: Creamer Media Reporter      9th November 2017 Dual-listed Sibanye-Stillwater has cemented a three-year wage agreement with all three trade unions for its workers at the Kroondal platinum-group metals operations. Trade unions, the Association of Mineworkers and Construction Union, the National Union of Mineworkers and Solidarity agreed to the... 

Zimbabwe invites investment in underground chrome mining 

By: Martin Creamer     8th November 2017 Zimbabwe on Wednesday invited investors to focus on underground chromium operations rather than cheaper strip mining operations, from which most of the country’s chromium ore is currently extracted. In a keynote opening address to the 33rd Chromium Conference, which is being held in South Africa,... 

Zimbabwe invites investment in underground chrome mining
Mining Weekly Online’s Martin Creamer reports on the Chromium Conference taking place in Johannesburg. Photographs: Duane Daws. Video: Nicholas Boyd. Video Editing: Lionel de Silva.

Eastplats could lose mining rights as shareholders relinquish BEE interest

By: Megan van Wyngaardt     8th November 2017 Dual-listed Eastern Platinum (Eastplats) could be facing regulatory challenges with the Department of Mineral Resources, following the relinquishment of interests by its black economic empowerment (BEE) shareholders.   The company on Tuesday said Gubevu Consortium Investment Holdings’ and Lion’s... 

Bristow, Friedland may go head-to-head in on-stage copper-gold debate

By: Martin Creamer     7th November 2017 Dr Mark Bristow of Randgold Resources and Robert Friedland of Ivanhoe Mines may go head-to-head in a live on-stage gold-versus-copper debate at the Investing in African Mining Indaba event at the Cape Town International Convention Centre from February 5 to 8, Mining Indaba MD Alex Grose disclosed... 

Bristow, Friedland may go head-to-head in on-stage copper-gold debate
Photo by Creamer Media
Investing in African Mining Indaba MD Alex Grose (right) and Martin Creamer

Northam appoints Brian Mosehla chairperson as Zim retires

By: Megan van Wyngaardt     7th November 2017 Northam Platinum chairperson Lazarus Zim retired on Tuesday, with immediate effect. Serving from April 2007, Zim is being succeeded by Brian Mosehla, who has been a non-executive director since 2015. 

Canadian junior mining sector riding renewed wave of confidence

By: Henry Lazenby     7th November 2017 Despite signs of improved investor confidence in Canada's prolific junior mining sector – mainly driven by rising consumer technology demand for resources – analysts are warning that the market recovery is in a delicate phase and will require discipline to survive until more substantial commodity... 

Canadian junior mining sector riding renewed wave of confidence

PTM, Implats close first phase of Waterberg transaction

By: Anine Kilian     6th November 2017 JSE-listed Platinum Group Metals (PTM) on Monday reported that it had received consideration of  $17.2-million from Impala Platinum (Implats) for the sale of an 8.6% interest in its Waterberg project, while Japan Oil, Gas and Metals National Corporation (Jogmec) had received $12.8-million for the... 

Strike threat adds to headaches for Lonmin CE

By: Reuters     6th November 2017 The threat of a strike in South Africa put renewed pressure on Lonmin on Monday as Chief Executive Ben Magara sought to reassure investors that the platinum miner's underlying business was robust. The South African firm, not for the first time, faces an uncertain future in the wake of a 30... 

Lonmin to showcase social projects after share price meltdown

By: Reuters     6th November 2017 Embattled London and Johannesburg-listed platinum producer Lonmin will unveil new health and road projects in South Africa on Monday in a ceremony that will be overshadowed by its latest share price collapse. Lonmin, not for the first time, is facing an uncertain future after its shares lost 30%... 

Lonmin to showcase social projects after share price meltdown
Photo by Duane Daws
Lonmin CEO Ben Magara

Resilient Lonmin beats guidance, ups cash

By: Martin Creamer     3rd November 2017 The board of platinum mining company Lonmin has decided to extend the date of the publication of its 2017 financial results to afford management the opportunity to give undivided attention to the group’s operational review, which is targeting a viable business plan based on the possible raising... 

Resilient Lonmin beats guidance, ups cash
Lonmin CEO Ben Magara

Amplats reports tame quarter, revises guidance downwards

By: Ilan Solomons     3rd November 2017 Platinum mining company Anglo American Platinum (Amplats) reported last week that total platinum production (expressed as metal in concentrate) for the three months ended September 30, was flat at 621 400 oz. The company noted that there were strong performances from its Mogalakwena, Unki and... 

Amplats reports tame quarter, revises guidance downwards
Photo by Anglo American Platinum
MOGALAKWENA MINE, LIMPOPO Strong performances from Mogalakwena, Unki and Union mines in the third quarter, were partially offset by reduced production from the joint venture Bokoni mine

Anglo Platinum co-opens pipe factory in Mokopane

By: Martin Creamer     1st November 2017 Anglo American Platinum has drawn applause for its role in the opening of a new pipe factory in job-short Limpopo, which is aimed at sustainably developing the community of Mokopane, where the mining company operates its rich Mogalawena opencast platinum mine. Anglo American Platinum partnered... 

Anglo Platinum co-opens pipe factory in Mokopane
Photo by Duane Daws
Anglo American Platinum CEO Chris Griffith

Cooke underground closes but 1 640 Beatrix jobs saved – Sibanye

By: Martin Creamer     1st November 2017 The underground mining operations at the Cooke 1, 2 and 3 gold mining shafts on the West Rand have been placed on care and maintenance resulting in the retrenchment of 2 025 employees, in addition to the 1 350 who took voluntary separation packages, precious metals mining company... 

Cooke underground closes but 1 640 Beatrix jobs saved – Sibanye
Photo by Duane Daws
Sibanye-Stillwater CEO Neal Froneman

NUM mass meeting at Cooke

By: Martin Creamer     31st October 2017 The National Union of Mineworkers (NUM) will hold a mass meeting at Sibanye-Stillwater's Cooke Operations on the West Rand on Wednesday morning over the alleged issuing of termination letters to more 2 000 workers at the gold mine. Reuters earlier quoted a Sibanye-Stillwater spokesperson as... 

Anglo American investors demand clarity as dealmaker chairman arrives

By: Reuters     31st October 2017 Anglo American's new chairperson, who arrives on Wednesday, faces investor calls for clear direction at the miner, long seen as a potential takeover target. The smallest of the world's four big miners, Anglo is viewed as the most vulnerable to being bought, and incoming chairperson Stuart... 

Anglo American investors demand clarity as dealmaker chairman arrives
Anglo American CEO Mark Cutifani

Rustenburg picks up, Marula turns, fatalities sadden – Implats

By: Martin Creamer     31st October 2017 Improved efficiencies and production levels at the Impala Rustenburg mine coincided with a turnaround at the Marula mine in the three months to September 30, Impala Platinum Holdings (Implats) said on Tuesday, when it expressed disappointment at five fatalities at Impala Rustenburg and one at... 

Rustenburg picks up, Marula turns, fatalities sadden – Implats
Photo by Duane Daws
Implats CEO Nico Muller

Sylvania dump production down 8% in Q1

By: Ilan Solomons     30th October 2017 Platinum group metals (PGMs) processor Sylvania Platinum’s Sylvania Dump Operations (SDO) produced 16 589 oz of PGMs in the quarter to September 30 – an 8% decrease on the previous quarter's output of 17 954 oz. Commenting on the results on Monday, Sylvania CEO Terry McConnachie said the decrease... 

Sylvania dump production down 8% in Q1
Photo by Sylvania Platinum
Yearly production is still expected to meet the full year 2018 forecast of 70 000 oz, which is outlined in the company’s annual report

Norilsk Nickel lifts Q3 nickel output by 10% q/q

By: Mariaan Webb     30th October 2017 The world’s largest producer of refined nickel and palladium, Norilsk Nickel, on Monday reported a 10% quarter-on-quarter increase in its nickel output, but said third-quarter copper and platinum group metals production had declined. Nickel production increased to 54 175 t in the September... 

Norilsk Nickel lifts Q3 nickel output by 10% q/q

Royal Bafokeng is said to be ordered to suspend mining at shaft

By: Bloomberg     27th October 2017 South Africa’s Royal Bafokeng Platinum was ordered Thursday by mining inspectors to suspend operations at its North shaft, according to two people familiar with the situation. The company was issued with a Section 54 notice for the entire shaft, said the people who asked not to be identified... 

Palladium surge felt on Chicago streets as thieves plunder cars

By: Bloomberg     27th October 2017 Investors aren’t the only ones who have noticed palladium’s surge this year. To appreciate the impact of the recent jump in prices, one need look no further than the streets of Chicago. A police locale put out a bulletin on October 23 alerting residents to thefts of catalytic converters, vehicle... 

AMCU scoffs at allegations of orchestrating killings, tribalism

By: Ilan Solomons     27th October 2017 The Association of Mineworkers and Construction Union (AMCU) has rejected recent multiple allegations made by media houses that the trade union is orchestrating killings on South Africa’s Platinum Belt, in particular at platinum producers Impala Platinum and Lonmin, and that it engages in... 

AMCU scoffs at allegations of orchestrating  killings, tribalism
Photo by Duane Daws
JEFFREY MPHAHLELE In relation to the killings the leadership of AMCU has been ‘extremely pained and traumatised’ by what has been taking place
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