http://www.miningweekly.com
R/€ = 15.71 Change: 0.00
R/$ = 13.43 Change: -0.02
Au 1231.96 $/oz Change: 8.71
Pt 829.00 $/oz Change: 16.94
 

Platinum Group Metals News

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... 

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

Mind the gap: Can subway and landmine technologies save South African platinum?

By: Reuters     16th May 2018 Technologies used to carve subways and clear landmines are being retooled to mechanise South Africa's platinum mines, where an unforgiving geology has stymied such efforts at a huge cost. The technologies may make new mines profitable and could provide a lifeline for some loss-making shafts in a... 

Short spell of mining hope dashed – Lorimer

By: Martin Creamer     16th May 2018 The short spell of hope for South Africa’s beleaguered mining sector, which burst forth with the election of Cyril Ramaphosa as President, has been dashed, Shadow Mineral Resources Minister James Lorimer said during the mineral resources budget debate. Applying the ‘learning nothing and... 

Short spell of mining hope dashed – Lorimer
Shadow Mineral Resources Minister James Lorimer

Russian billionaires trade barbs as Potanin testifies in court

By: Bloomberg     16th May 2018 In the second day of London court hearings, billionaire Vladimir Potanin couldn’t pass up the chance to throw a few barbs to his long-running rival Oleg Deripaska. Potanin took the stand on Tuesday in a case involving a dispute over the sale of shares in MMC Norilsk Nickel, Russia’s biggest... 

Anglo American to spin off unit to encourage platinum demand

By: Reuters     15th May 2018 Anglo American will spin out its internal venture capital unit, it said on Tuesday, as the world's biggest platinum producer seeks to spur investment in fuel-cell technology to boost demand for a commodity in oversupply. A push, particularly in Europe and China, for lower-emission transport... 

PTM closes $17.62m public offering

By: Simone Liedtke     15th May 2018 TSX-listed Platinum Group Metals (PTM) has closed the issuing of 117.45-million units at a price of $0.15 a unit for gross proceeds of about $17.62-million. Each unit comprises one common share and one common share purchase warrant of PTM. 

Mantashe prioritises policy, laments ‘inadequate’ budget allocation

By: Marleny Arnoldi     15th May 2018 The Department of Mineral Resources (DMR) will make policy and legislation one of its key priorities this year and has committed to finalising the Mining Charter in June, Minister Gwede Mantashe said on Tuesday. Mantashe, who tabled the DMR’s Budget Vote in Parliament, listed the department’s... 

Mantashe prioritises policy, laments ‘inadequate’ budget allocation
Photo by Creamer Media
Mineral Resources Minister Gwede Mantashe

Reserve Bank approves Sibanye's buyout of Lonmin

By: Creamer Media Reporter      15th May 2018 The South African Reserve Bank (SARB) has approved Sibanye-Stillwater's proposed acquisition of Lonmin. Lonmin CEO Ben Magara on Tuesday said the company was pleased that the SARB had approved the transaction. 

Reserve Bank approves Sibanye's buyout of Lonmin
Lonmin CEO Ben Magara

Britain's competition watchdog to look into Sibanye-Lonmin deal

By: Reuters     15th May 2018 Britain's Competition and Markets Authority (CMA) said on Tuesday it would examine whether a takeover of miner Lonmin by South Africa's Sibanye-Stillwater would reduce competition. The £285-million ($386-million) deal, which would create the world's No.2 platinum producer, faces several hurdles... 

Russian billionaires take boardroom battle to London High Court

By: Reuters     15th May 2018 Russia tycoon Oleg Deripaska gave evidence in the London High Court on Monday in a case challenging the sale of shares in Norilsk Nickel (Nornickel) by soccer club owner Roman Abramovich. Deripaska, making his first public appearance since being made a target of US sanctions, wants to stop... 

Russian billionaires take boardroom battle to London High Court
Oleg Deripaska

Some inroads made after ten years of the Industrial Policy Action Plan - Davies

By: Kim Cloete     15th May 2018 Ramping up production in the automotive sector, resuscitating the ailing tooling industry and boosting the clothing, textiles, leather and footwear industries are among successes the government has listed in its review of ten years of the Industrial Policy Action Plan (Ipap). Despite a... 

Some inroads made after ten years of the Industrial Policy Action Plan - Davies

Government releases its tenth Industrial Policy Action Plan 

By: Kim Cloete     15th May 2018 The government has released its Industrial Policy Action Plan (Ipap) 2018, with a sharp focus on deepening industrial development, speeding up radical economic transformation and increasing the ability to produce higher value-added products. Trade and Industry Minister Dr Rob Davies said it was... 

Government releases its tenth Industrial Policy Action Plan
Photo by Creamer Media
Trade and Industry Minister Dr Rob Davies

Consolidation needed to save jobs – Lonmin 

By: Martin Creamer     14th May 2018 Ben Magara, the CEO of embattled mining company Lonmin, on Monday made an impassioned plea for authorities to approve the company’s consolidation plans with Sibanye-Stillwater as soon as possible, as these will generate R1.5-billion in synergies and save 20 000 vitally needed jobs. The 32... 

Consolidation needed to save jobs – Lonmin
Lonmin CEO Ben Magara outlines to Mining Weekly Online’s Martin Creamer the crucial need for his company’s consolidation with Sibanye-Stilwater. Video & Video Editing: Nicholas Boyd. Photographs: Dylan Slater.

Platinum supply, demand weak in Q1 – WPIC  

By: Nadine James     14th May 2018 There was a slight dip in both platinum demand and supply in the first quarter of this year, the World Platinum Investment Council (WPIC) reports. The organisation on Monday revealed that refined output decreased by 0.7% year-on-year in the first quarter, largely as a result of South African mine... 

Platinum surplus to widen; fuel cells seen as key driver for future demand

By: Marleny Arnoldi     14th May 2018 The platinum market will move further into oversupply this year, as production from South Africa remains flat and demand is forecast to contract by 2.5%, the latest Johnson Matthey platinum group metals (PGM) market report states.  

Platinum surplus to widen; fuel cells seen as key driver for future demand

Miner Lonmin narrows first-half loss, cuts annual spending target

By: Reuters     14th May 2018 Lonmin said on Monday it narrowed its first-half operating loss and lowered its spending target for the year as the platinum miner prepared for a merger with Sibanye-Stillwater, The London-listed miner, which is being bought by Sibanye-Stillwater, reported a first-half operating loss of $32... 

Miner Lonmin narrows first-half loss, cuts annual spending target

Russian billionaires' Nornickel tussle to go to trial on Monday

By: Reuters     14th May 2018 A London High Court trial over the legality of Russian billionaire Roman Abramovich's sale of a stake in Norilsk Nickel will start on Monday, part of a long-running battle for control of the miner. Rusal, which is controlled by Oleg Deripaska, is trying to stop Chelsea soccer club owner... 

Russian billionaires' Nornickel tussle to go to trial on Monday
The Norilsk Nickel head office in Russia.

Platinum Group Metals and HCI amend strategic investment terms

By: Anine Kilian     11th May 2018 TSX-listed mining company Platinum Group Metals (PTM) and South African black empowerment investment holding company Hosken Consolidated Investments (HCI) have agreed to amend the terms of a strategic investment. PTM said on Friday that HCI had entered into an amended subscription agreement, on a... 

CRM tailings retreatment project cost rises

By: Anine Kilian     11th May 2018 The estimated cost to complete the chrome tailings retreatment project at the Crocodile River Mine (CRM), in the North-West, has increased by 16.6% to R191.2-million, Eastern Platinum (Eastplats) reported on Friday. This follows after Eastplats and its subsidiary Barplats Mines undertook a... 

Implats seeks bidders for Marula tailings facility

By: Reuters     11th May 2018 South Africa's Impala Platinum (Implats) is seeking tenders to build a tailings or waste storage facility at its Marula mine in a positive sign for a site recovering from community protests that sent its shares higher. The company posted an advertisement on Friday in the local Mail & Guardian... 

Integrated mining software championed

By: Tasneem Bulbulia     11th May 2018 The constant evolution and innovation of technology have prompted mining houses to move away from “disparate” legacy systems and pursue integrated and easy-to-use software tools instead, global consulting and technology company Deswik South Africa MD Ian Lawler tells Mining Weekly. Lawler... 

Integrated mining  software championed
UNIQUE FACET Deswik.Enviro is fully integrated with the rest of the Deswik suite and it enables mining companies to account for the cost of closure when doing a life-of-mine plan

Local market welcomes launch of SRK Exploration Services

By: Nadine James     11th May 2018 The local and sub-Saharan African market has responded “very positively” to the establishment of SRK Exploration Services, a discipline-led division of SRK Global, says SRK Exploration Services Southern African exploration manager Oliver Bayley. He explains that the Cardiff-based division... 

Local market welcomes launch  of SRK Exploration Services
HENNIE THEART AND OLIVER BAYLEY The growing ranks of midtier and junior mining companies who lack in-house technical ability has created an untapped market for SRK

West Kytlim off to a good start as 2018 mining season kicks off

By: Mariaan Webb     10th May 2018 The West Kytlim alluvial gold and platinum mine, in the Ural mountains of Russia, has started the 2018 mining season on a high note, with 4.6 kg of raw platinum having been produced in the first six days of production. Aim-listed Eurasia appointed Techstroy to mine at West Kytlim and executive... 

World's No. 2 platinum stock languishes on output, cost concerns

By: Bloomberg     10th May 2018 Bad news from South Africa’s platinum belt has pushed shares of the world’s No. 2 producer of the metal to the lowest since 1999. Impala Platinum Holdings has dropped 40% this year as investors fret over glitches at its Rustenburg operations and cost ratios that compare unfavorably with some... 

AfriForum’s prosecution unit considers possible legal action against Ivanplats

By: Simone Liedtke     8th May 2018 Civil rights organisation AfriForum’s Anti-Corruption Unit, as well as its Private Prosecution Unit, headed by advocate Gerrie Nel, will be taking on the case of the Ndebele Vaaltyn Tribe, who brought criminal charges against Canadian mining company Ivanplats Mines in 2014. The tribe alleges that... 

AfriForum’s prosecution unit considers possible legal action against Ivanplats
Advocate Gerrie Nel speaking to attendees and the community on Tuesday

Ivanplats signs water offtake agreement for Platreef project

By: Marleny Arnoldi     8th May 2018 Africa-focused explorer and project developer Ivanhoe Mines’ 64%-owned subsidiary Ivanplats has signed an agreement with the Mogalakwena municipality, in Limpopo, for the supply of at least five-million litres of treated water a day for 32 years, starting in 2022, from the town of Mokopane’s new... 

Ivanplats signs water offtake agreement for Platreef project
Ivanhoe executive chairperson Robert Friedland

HCI buys 10% stake in PTM

By: Simone Liedtke     4th May 2018 South African black empowerment investment holding company Hosken Consolidated Investments (HCI), will, through a subsidiary, acquire a 10% interest in TSX-listed Platinum Group Metals (PTM). HCI has entered into a subscription agreement with PTM, on a private placement basis, for the purchase of... 

Mineral-rich developing countries urged to have ‘more beneficial engagements’ with China

By: Nadine James     4th May 2018 South Africa and other mineral-rich developing countries with close economic links to China must reassess their trade policies to provide a buffer against fluctuating commodity demand, according to Witwatersrand University School of Mining Engineering postgraduate student Peaceful Mathebula and... 

Diversification benefits Sibanye-Stillwater as strong rand bites South African gold operations

By: Simone Liedtke     3rd May 2018 The benefits of Sibanye-Stillwater’s commodity and geographical diversification during the last two years are clearly evident as the South African mining industry is negatively impacted on by a strong rand, the multicommodity miner said on Thursday. This can be seen in the solid operating... 

Latest News

more

Latest Videos

more

Projects

Topics In These Articles

RSS Feed

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Close