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Platinum Group Metals News

Expansion project making steady progress

Steady progress has been made on all mining and infrastructure construction-related activities at platinum miner Royal Bafokeng Platinum’s (RBPlat’s) Styldrift I expansion project, in the North West. Steady-state production is expected in the first quarter of 2019, and will boost RBPlat’s... 

PFS provides guidance for platinum project

As of February this year, development work on the Platreef project, owned by Ivanhoe Mines, focused on the Shaft No 1 sinking programme, which is expected to be covered by existing dedicated working capital. The project is situated in Limpopo and is funded by an investment of $280-million made by... 

Platinum mine to complete shaft sinking in October

By: Kimberley Smuts Wesizwe Platinum’s Bakubung mine, in the North West, remains on track to complete shaft sinking in October, after which commissioning will start. The main shaft is currently 25 m away from bottom level, while the ventilation shaft is 45 m away from bottom level. Both shafts are expected to reach... 

Platinum mine to complete shaft sinking in October
ACCORDING TO PLAN Main shaft stripping and commissioning at Wesizwe's Bakubung mine is expected to start in November 2015

Platinum projects well under way

By: Kimberley Smuts Platinum group metals (PGMs) producer Sylvania Platinum’s project portfolio includes four hotspots on the northern limb of the Bushveld Igneous Complex that have been identified as prospective platinum, palladium and gold targets (PGM 3E), together with copper (Cu) and nickel (Ni) deposits. Each... 

Platinum projects  well under way
PGM FLOTATION PLANT Sylvania Platinum owns the Sylvania Dump Operations that currently include seven fully operational chrome tailings processing complexes

Lonmin: victim of price falls and management wobbles

By: Reuters Platinum producer Lonmin is facing its deepest crisis to date, hurt by a downturn in the metal and haunted by a mixture of bad luck and debatable management choices that are putting its survival at risk. Times are tough for everyone in the platinum sector. 

Northam, NUM reach wage settlement

By: Creamer Media Reporter Platinum producer Northam Platinum has inked a three-year wage agreement with the National Union of Mineworkers (NUM) for workers at the Zondereinde mine, in Limpopo. Entry-level underground employees would be provided a 13% basic wage and allowance increase in the first year, followed by... 

First Quantum idles Sentinel to operate Kansanshi at capacity amid power reductions

By: Natasha Odendaal Aim- and TSX-listed First Quantum Minerals has idled its Sentinel processing plant and redirected its power supply to enable its Kansanshi mine to operate as close to capacity as possible and maintain its development momentum, as Zambia’s power utility imposes power restrictions on mines in the... 

First Quantum idles Sentinel to operate Kansanshi at capacity amid power reductions

Union Resources among bidders for Amplats mine

By: Reuters A group of South African investors known as Union Resources has made a bid for Anglo American Platinum's Union mine, its chairman said on Wednesday. Union Resources chairman Tshepo Bokaba said the group was bidding for the mine, but declined to say how much his company was offering. "We are among... 

Platinum prices hit Sylvania’s earnings

By: Natasha Odendaal Despite record levels of platinum-ounce production and contained unit costs, low-cost platinum group metals (PGMs) processor and developer Sylvania Platinum on Wednesday said capitulating metal prices had battered its earnings in the fourth quarter of the year. Group earnings before interest,... 

Platinum prices hit Sylvania’s earnings

SA mineral riches traced to ancient volcanoes  

By: News24Wire South Africa’s extensive bounty of valuable minerals can be traced to ancient super volcanoes, according to a researcher. “The super volcanoes of the past 2.7-billion years left us with something unique in the world – after all the drama, our part of the continent was full of diamonds and... 

Aquarius delivers Q4 production record

By: Natasha Odendaal Despite facing significant headwinds and a quarter that ended with weak commodity prices, both of platinum producer Aquarius Platinum’s operating mines achieved record fourth-quarter production levels, as well as lower costs. The JSE-listed group’s overall attributable production from its... 

Creamer Media publishes Real Economy Insight: Platinum 2015 brief

This seven-page brief is a synopsis of key developments in the platinum industry over the past 12 months, including industry restructuring, mechanisation and automation, supply and demand, and the outlook for the sector. 

Creamer Media publishes Real Economy Insight: Platinum 2015 brief

With metals slumping, investors seek miners that can weather storm

By: Reuters A slump in metals prices this week and worries over China's growth prospects have heightened investor scrutiny of whether mining companies have the ability to weather the storm ahead. China accounts for almost half of global copper demand, 70% of iron-ore consumption and vies with India to be... 

NUM shocked by Lonmin cutting thousands of jobs

By: News24Wire The National Union of mineworkers (NUM) on Friday decried a plan by Lonmin to cut 6 000 jobs as it readies to close or mothball several mine shafts in a bid to survive plunging prices. "This is a bloodbath of job losses in the mining industry. It is a tragedy for the mineworkers in South Africa,"... 

Lonmin to shut, idle high-cost operations

By: Natasha Odendaal As platinum prices fall to decades-low levels, Lonmin is shaking up its business strategy to ride out the storm with minimal damage – a move that would impact 6 000 employees and cut up to 20% of production as shafts are shuttered. The platinum price plunged by 14.4% from $1 126/oz in March to... 

Lonmin to shut, idle high-cost operations
Photo by Duane Daws
Lonmin CEO Ben Magara

Jobs decline on commodity prices, mechanisation

By: Creamer Media Reporter Creamer Media's Shannon de Ryhove speaks to Mining Weekly editor Martin Creamer about Kumba Iron Ore's job cuts as well as Anglo American Platinum's results. 

Jobs decline on commodity prices, mechanisation

Platinum bridal jewellery demand up in China, fuel cells powering blocks of flats

By: Martin Creamer Platinum marketing money previously devoted largely to discounts and commissions is now being used to boost platinum jewellery, investment and fuel cell promotion, says Anglo American Platinum (Amplats) CEO Chris Griffith. Bridal platinum jewellery demand is growing in China, platinum demand... 

Platinum bridal jewellery demand up in China, fuel cells powering blocks of flats
Photo by Bloomberg
Platinum investment bars

Booysendal ops resume, Ramatlhodi promises jobs to aggrieved Steelpoort community

By: Megan van Wyngaardt Operations at Northam Platinum’s Booysendal mine, in Steelpoort, have returned to normal, after Mineral Resources Minister Advocate Ngoako Ramatlhodi, who visited the area on Wednesday, intervened to resolve protests by community members. The mine’s operations were halted as the protests... 

Sandvik contractor dies at Lonmin’s Marikana mine

By: Megan van Wyngaardt JSE-listed platinum miner Lonmin on Thursday confirmed that Sandvik Mining contractor general foreman Mark Potgieter, 36, has died as a result of injuries sustained in an accident that occurred during the maintenance of a load-haul dumper at its Hossy shaft, at the Marikana mine, on Wednesday... 

Tech savvy O’Neill streaks up Anglo ladder

By: Martin Creamer Technical fundi Tony O’Neill, who put his imprimatur on game-changing technology during his short spell in South Africa, has been appointed with immediate effect to the board of Anglo American as an executive director, less than two years after taking over the company’s technology, business... 

Tech savvy O’Neill streaks up Anglo ladder
Photo by Duane Daws
Tony O'Neill

PTM’s Waterberg JV adds to project resources

By: Henry Lazenby Canadian project developer Platinum Group Metals (PTM) has increased the resource estimate for platinum, palladium and gold (3E) at its 58.62%-owned Waterberg Joint Venture (JV) project, expanding the inferred resource and improving the confidence in previous results. The Vancouver-based company... 

Steelpoort protests affect Booysendal mine – Northam

By: Megan van Wyngaardt Northam Platinum on Tuesday said the civil unrest in Steelpoort had affected operations at its Booysendal mine. The company said the protests by community members in the Steelpoort valley was impacting the company’s production, as protestors had been blocking roads and disrupting transport, which... 

Most ounces from mechanised mining in next ten years – Amplats

By: Martin Creamer Most of the platinum ounces produced by the world’s biggest platinum company in the next ten years would come from mechanised mining, Anglo American Platinum (Amplats) CEO Chris Griffith said on Monday. Delivering a strong set of results for the six months to June 30 – which saw profit soar 704%... 

Most ounces from mechanised mining in next ten years – Amplats
Photo by Duane Daws
Chris Griffith

Ramatlhodi calls for calm in Steelpoort

By: Megan van Wyngaardt Mineral Resources Minister Advocate Ngoako Ramatlhodi has appealed for calm in Steelpoort, Sekhukhune, following protests in the area over the past few days. The protests had resulted in, besides others, disruptions in the operations of the mines in the area. 

All Amplats mines cash positive in back-to-normal first half

By: Martin Creamer Platinum mining company Anglo American Platinum (Amplats), which had all of its mines operating at a cash positive level in the six months to June 30, will continue to manage its operations for the low platinum price environment caused by global macroeconomic factors out of its control. Amplats,... 

All Amplats mines cash positive in back-to-normal first half
Photo by Duane Daws
Chris Griffith

TSX grants extension of Eastplats AGM

By: Natalie Greve The TSX has agreed to the extension of listed miner Eastern Platinum’s (Eastplats’) annual general meeting (AGM), provided that the AGM is held on or before September 11. In requesting the extension, Eastplats noted that it would be in the best interests of its shareholders to postpone the... 

Jubilee sells non-platinum assets for R110m

By: Creamer Media Reporter Mines-to-metals company Jubilee Platinum will sell its Jubilee Smelting and Refining (JSR) subsidiary and a 70% interest in its Power Alt subsidiary to special purpose vehicle (SPV) Main Street 1347 for R110-million. The SPV, a nominee company of Siyanda Resources, was established for the... 

Anglo to take up to $4bn impairment hit

By: Natasha Odendaal Mining giant Anglo American is preparing to take a $3-billion to $4-billion write-down for the first half of the year amid continued persistent price weakness and volatility of the bulk commodities, particularly iron-ore and metallurgical coal. The impairment followed a mid-year review of Anglo’s... 

Amplats Q2 output rises 60% y/y

By: Natasha Odendaal JSE-listed Anglo American Platinum’s (Amplats’) output for the second quarter of the current financial year bounced back from the strike-hit performance in the comparative period last year. In the three months to June 30, the group’s attributable equivalent refined platinum production increased... 

PTM on track for planned production from WBJV Project 1 in 2015

By: Henry Lazenby Vancouver-based project developer Platinum Group Metals’ (PTM’s) 82.9% owned Western Bushveld joint venture (WBJV) Project 1, located near Rustenburg, South Africa, was about 90% complete and on track for planned production this year. PTM said cold commissioning of processing plant equipment was... 

Another trade union is born in the North West’s platinum belt

By: African News Agency Another trade union is being formed in the Rustenburg platinum belt in the North West, announced one of the new union’s founders on Tuesday. The newly formed Badirammogo Workers Union has a broad scope to operate with a focus on mining, said one of the founders, Tshepo Mekgoe. 

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