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Platinum Group Metals News

Russian federal agencies give go-ahead for second Eurasia Mining project

By: Marleny Arnoldi     13th June 2018 Aim-listed platinum group metals (PGM) and gold miner Eurasia Mining has received approval from the Russian Federal Securities Board and the Ministry of Defence for its Monchetundra project, in the Kola Peninsula.  

South Africa’s ‘Samcodes way’ a world-beater – Mullins

By: Martin Creamer     12th June 2018 South Africa has succeeded in creating a meticulous set of mineral reporting codes that continue to gain international recognition. The South African Mineral Reporting Codes (Samcodes), which protect investors, are currently so highly regarded that in October South Africa will host a large... 

South Africa’s ‘Samcodes way’ a world-beater – Mullins
Photo by Dylan Slater
Samcodes standards committee chairperson Matt Mullins (left) and Mining Weekly Online's Martin Creamer

BMR sells Jubilee shares to repay creditor

By: Marleny Arnoldi     11th June 2018 Aim- and JSE-listed Jubilee Metals has completed a placing of existing shares held by Aim-listed lead and zinc mine developer BMR Group to institutional shareholders.  

Beneficiation opportunities in zinc, fuel cells – Oliphant

By: Martin Creamer     11th June 2018 Deputy Minerals Minister Godfrey Oliphant is engaging with companies on local value-addition opportunities in zinc and platinum-catalysed fuel cells, and would like mining companies to make these and other locally mined commodities available at developmental prices to facilitate... 

Beneficiation opportunities in zinc, fuel cells – Oliphant
Photo by Wynand van der Merwe
Deputy Mineral Resources Minister Godfrey Oliphant (right) with Mining Weekly Online's Martin Creamer

Mustang Minerals changes name to Grid Metals

By: Nadine James     8th June 2018 Mustang Minerals has changed its name to Grid Metals. Grid will begin trading on the TSX-V under the symbol GRDM effective June 8. 

Greater government intervention in mining research, development needed – Netshitenzhe 

By: Nadine James     8th June 2018 In his working paper, Towards Mining Vision 2030 African National Congress National Executive Committee member and Mapungubwe Institute for Strategic Reflection (Mistra) director Joel Netshitenzhe suggests that more needs to be done in terms of government support and collaboration in the field of... 

No let up on calls for flow-through model to boost exploration

By: Martin Creamer     7th June 2018 The failure to raise risk capital for greenfields exploration in South Africa was highlighted at this week’s Junior Indaba, where there was no let up on calls for the adoption of a proven Canada-type flow-through share scheme, and ongoing criticism of the unintended consequences of South Africa’s... 

No let up on calls for flow-through model to boost exploration
Photo by Wynand van der Merwe
JSE business development manager Patrycja Kula-Verster

Sibanye CEO says seismic events a fact of life for South Africa mines

By: Reuters     7th June 2018 Earthquakes such as the one in which seven miners died last month in South Africa are impossible to predict and a fact of life for deep level operations there, the chief executive of the mine's owner Sibanye-Stillwater said on Thursday. Precious metals producer Sibanye has been the object of... 

Jubilee sets another operational record

By: Anine Kilian     7th June 2018 Dual-listed Jubilee Platinum’s North West-based Hernic project achieved record production of 2 101 oz of platinum-group metals (PGMs) in May, a 12% increase on the previous record. The company has already produced 3 972 oz of PGMs in the second quarter, with a target of 6 000 oz for the full... 

Platinum price set for recovery this year – survey

By: Anine Kilian     7th June 2018 The platinum price is expected to exceed $1 000/oz in the second half of this year. “We expect the platinum price will start a recovery this year, albeit a gradual one. This is predicated on a small deficit this year, of nearly 300 000 oz, fuelled by a contraction in supply, chiefly from the... 

Platinum price set for recovery this year – survey

Land ceded by Zimplats to be used for Karo's $4.2bn project

By: Bloomberg     7th June 2018 A platinum-bearing mine concession ceded by a subsidiary of Impala Platinum will be used by Karo Resources to develop a $4.2-billion mining complex, Zimbabwe’s mines minister said. Impala, based in Johannesburg, on Wednesday said its Zimplats subsidiary had agreed to release 23 903 ha of land to... 

Eastplats files civil claims notices against former directors, other parties

By: Anine Kilian     7th June 2018 JSE-listed Eastern Platinum (Eastplats), together with Eastplats Acquisition and Eastern Platinum Holdings, has filed notices of civil claims related to two separate actions in the British Columbia Supreme Court. The first claim is brought against Serina Services and Ingwenya Incorporated in... 

US, Japanese platinum jewellery demand to continue growing

By: Marleny Arnoldi     6th June 2018 With China’s strong economic growth in the first quarter of this year, jewellery demand in that country also increased, but platinum jewellery demand lagged behind other jewellery segments owing to a lack in innovative product and market-wide marketing support, says Platinum Guild International... 

US, Japanese platinum jewellery demand to continue growing

Plan for mining community development levy scrapped

By: Bloomberg     6th June 2018 South Africa’s government has scrapped plans to compel mining companies to contribute 1% of their annual turnover to a new community development agency because it feared the funds could be abused, the nation’s mining minister said. The levy was proposed in a draft of the nation’s new Mining... 

Current mining ‘boom’ very different to last one – CRU

By: Martin Creamer     6th June 2018 A return of capital expenditure (capex) and inorganic sources of growth are seen as a key corporate priority for 2018 and beyond, CRU Group senior consultant Aleksander Popovic said on Wednesday. The provider of marketing intelligence to mining told the Junior Indaba that the company’s... 

Current mining ‘boom’ very different to last one – CRU
Photo by Dylan Slater
CRU Group senior consultant Aleksander Popovic

Zimplats tenement splits in two after government deal

By: Esmarie Swanepoel     6th June 2018 Platinum miner Impala Platinum (Implats), through its Zimbabwean subsidiary Zimplats, has agreed to release 23 903 ha of its mining leases to the Zimbabwean government, effectively splitting its tenement in two. The Zimbabwean government previously expressed its intention to compulsorily acquire... 

Govt creating junior miners’ fund, boosting geoscience, legitimising zama-zamas 

By: Martin Creamer     5th June 2018 The government is partnering the State-owed Industrial Development Corporation (IDC) to establish a junior miners’ fund that will provide exploration investment capital to black-owned emerging miners; it is also investing R20-billion in the Council for Geoscience to boost exploration as well as... 

Govt creating junior miners’ fund, boosting geoscience, legitimising zama-zamas
Mineral Resources Deputy Minister Godfrey Oliphant announces junior funding at Junior Indaba, covered by Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

South Africa’s commodity sector continues to suffer, despite favourable market conditions

By: Simone Liedtke     5th June 2018 While favourable market conditions, higher commodity prices and strong internal discipline will produce increased liquidity and balance sheet strength for miners this year, advisory firm PwC Africa energy, utilities and resources leader Michal Kotzé believes South Africa’s commodity sector will... 

Zimbabwe removes requirement for foreign mines to list locally

By: Reuters     1st June 2018 Zimbabwe's Parliament has passed amendments to the mining bill after removing clauses that required foreign mining companies to list locally, according to an official record of Parliament's debates seen on Friday. Mines Minister Winston Chitando had last month promised to remove the requirements,... 

‘Law does not adequately protect pregnant women working in risk environments’

By: Nadine James     1st June 2018 The legislature should amend the Unemployment Insurance Act (UIA) to protect pregnant employees working in risk environments, says Cliffe Dekker Hofmyer employment practice director Fiona Leppan. She says South African legislation does not provide adequate protection for pregnant women working in... 

‘Law does not adequately protect pregnant women  working in risk environments’
FIONA LEPPAN If the Unemployment Insurance Act were to be amended, it should address situations where pregnant women would be prejudiced because of the work environment – not because they are pregnant

Sentiment dampens as Charter, MPRDA deadline commitments are postponed

By: Nadine James     1st June 2018 The positive sentiment stemming from the appointment of President Cyril Ramaphosa, and the subsequent appointment of Mineral Resources Minister Gwede Mantashe has dampened recently as Mantashe pushed out the finalisation of the Mining Charter and lodged an application for leave to appeal against... 

Sentiment dampens as Charter, MPRDA deadline  commitments are postponed
WARREN BEECH Hogan Lovells’ Mining head believes Minerals Resources Minster Mantashe’s credibility has been adversely impacted by some of his recent comments

Oil & gas, mining industries anxious about top brass succession planning

By: Henry Lazenby     31st May 2018 There is real anxiety in the oil and gas and mining industries regarding the lack of aptitude to replace an ageing top-level management talent pool, Stephen Diotte, partner and head of leadership services for Odgers Berndtson tells Mining Weekly Online. He recently joined the executive search... 

Oil & gas, mining industries anxious about top brass succession planning

Sibanye-Stillwater shares rise on deleveraging plan

By: Martin Creamer     31st May 2018 The share price of Sibanye-Stillwater rose on Thursday on the news of a deleveraging plan that explicitly excludes debt and equity raising. Prospective deleveraging options include a streaming arrangement to raise $500-million and a process inventory financial arrangement to raise a further... 

Sibanye-Stillwater shares rise on deleveraging plan
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Tharisa may join Karo in $4.2bn Zimbabwe platinum project

By: Bloomberg     31st May 2018 Tharisa, the platinum and chrome miner run by the Pouroulis family, is considering investing in a $4.2-billion platinum project in Zimbabwe being developed by another company founded by the family. Tharisa would join Karo Resources, founded by mining entrepreneur Loucas Pouroulis, in building the... 

Tharisa may join Karo in $4.2bn Zimbabwe platinum project
Tharisa CEO Phoevos Pouroulis

Waterberg DFS progresses, updated resource model expected in Q3

By: Marleny Arnoldi     30th May 2018 The definitive feasibility study (DFS) for TSX-listed Platinum Group Metals’ (PTM’s) joint venture Waterberg Project, in the Bushveld Complex, is progressing well and remains on track for completion at the end of the first quarter of 2019.  

Exploration under way at Orion Minerals’ Northern Cape prospecting licences

By: Marleny Arnoldi     29th May 2018 Exploration and development company Orion Minerals has started fieldwork in the Areachap Belt, in the Northern Cape.  

Ivanhoe Mines’ SA, DRC projects progressing well

25th May 2018 Canadian mining exploration and development company Ivanhoe Mines’ Democratic Republic of Congo (DRC) exploration team is continuing with its regional drilling programme that is targeting the Kamoa-Kakula-style copper mineralisation on its exploration licences in the west of the Kamoa-Kakula... 

Ivanhoe Mines’ SA, DRC projects progressing well
PROJECT DEVELOPMENT Ivanhoe Mines is advancing its Platreef platinum/palladium/nickel/copper/gold discovery in South Africa

Application deadline for Amplats bursary scheme extended to month-end

By: Nadine James     25th May 2018 Anglo American Platinum (Amplats) has extended the application period for its bursary scheme until May 30. The scheme is designed to give young professionals an entry into the company and will provide bursars with an academic qualification as well as the job skills necessary to launch a... 

Northam ups funding capacity as stockpile monetisation ensues

By: Martin Creamer     24th May 2018 Platinum mining company Northam has increased its funding capacity to tide it over a capital intensive development period. A new R1-billion two-year unsecured revolving credit facility to April 2020 is augmenting a previous R2-billion unsecured revolving credit facility to November 2021, taking... 

Northam ups funding capacity as stockpile monetisation ensues
Photo by Creamer Media
Northam Platinum CEO Paul Dunne

Newly named Minerals Council South Africa welcomes board members

By: Nadine James     23rd May 2018 Minerals Council South Africa (MCSA) president Mxolisi Mgojo noted that all of the council’s previous office bearers had been re-elected at the 128th annual general meeting. During his address, Mgojo thanked Kalagadi Manganese chairperson Daphne Mashile-Nkosi, who retired from MCSA board duties... 

Mantashe considers invoking ‘use it or lose it’ principle for mines under care and maintenance

By: Nadine James     23rd May 2018 Speaking at the official unveiling of the rebranded Minerals Council South Africa (previously the Chamber of Mines), on Wednesday, Mineral Resources Minister Gwede Mantashe noted that he and the Department of Mineral Resources (DMR) were unenthusiastic, but willing to make use of the 'use it or... 

Mantashe considers invoking ‘use it or lose it’ principle for mines under care and maintenance
Photo by Dylan Slater
Mineral Resources Minister Gwede Mantashe

Eurasia’s West Kytlim fully operational

By: Creamer Media Reporter      23rd May 2018 The West Kytlim alluvial platinum mine, in the Ural mountains of Russia, is fully operational and is producing an average of 1.8 kg a day of raw platinum, Aim-listed Eurasia Mining reported on Wednesday. In the first two weeks of production, the mine produced 11.8 kg at a suggested average grade... 

Chamber of Mines hopes to embark on new era rebranding as Minerals Council South Africa

By: Nadine James     23rd May 2018 The Chamber of Mines has rebranded and is now the Minerals Council South Africa (MCSA) in line with its quest to reposition the sector as South Africa’s  preeminent industrial sector, while building a new legacy and creating a “future that all South African can be proud of,” MCSA president... 

Chamber of Mines hopes to embark on new era rebranding as Minerals Council South Africa
Photo by Dylan Slater
MCSA president Mxolisi Mgojo and Mineral Resources Minister Gwede Mantashe

Sibanye CEO confident of Lonmin takeover despite cash burn

By: Reuters     18th May 2018 Sibanye-Stillwater is confident its planned purchase of Lonmin will go ahead, but the struggling platinum producer must slow its cash burn, the South African firm's chief executive said. Sibanye's £285-million all-share bid to create the world's second largest platinum miner faces hurdles... 

Sibanye CEO confident of Lonmin takeover despite cash burn
Photo by Creamer Media
Sibanye-stillwater CEO Neal Froneman

Zimbabwe mines need $11bn investment to modernise

By: Reuters     18th May 2018 Zimbabwe needs up to $11-billion to modernise its mines and boost production to maximum capacity over the next five years, the head of the country's Chamber of Mines said on Friday. Foreign investor interest in the southern African nation is growing after the fall of longtime leader Robert Mugabe... 

Young, bridal jewellery consumers to drive platinum demand

By: Nadine James     18th May 2018 Young, bridal and self-purchasing jewellery consumers are emerging to contribute to platinum demand growth this year, the Platinum Guild International (PGI) reports. In its ‘2017 Platinum Jewellery Business Review’, the PGI found strong consumer retail sales growth in the US, Japan and India for... 

Widespread cable theft requires intervention

By: Tasneem Bulbulia     18th May 2018 With the prevalence of cable theft at local mine sites, and the potential health and safety implications this has, it is imperative that companies take a proactive approach and implement preventative measures, asserts industrial equipment supplier Banding and Identification Solutions SA (Banding... 

Widespread cable theft requires intervention
CLAMPING DOWN The UL4000-C Ultra-Lok clamping system can reduce cable theft at mining operations by significantly increasing the time needed to remove a clamp and increasing the theft risk factor

Tharisa on track to achieve Vision 2020 strategy; acquires Zim chrome asset

By: Simone Liedtke     16th May 2018 Integrated resource group Tharisa CFO Michael Jones says the company’s Vision 2020 strategy, which is aimed at increasing production to 200 000 oz of platinum-group metals (PGMs) and two-million tonnes of chrome concentrates by year-end 2020, is well on track. Tharisa, which on Wednesday... 

Tharisa on track to achieve Vision 2020 strategy; acquires Zim chrome asset
Tharisa CFO Michael Jones

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