R/€ = 16.48 Change: -0.01
R/$ = 14.51 Change: -0.01
Au 1304.69 $/oz Change: 0.00
Pt 836.28 $/oz Change: 0.00

Platinum Group Metals News

Jangada slashes project costs by almost a third

By: Mariaan Webb     12th November 2018 The Pedra Branca platinum group metals (PGM) project’s total capital cost has been reduced by 32%, following the refinement and optimisation of the process flowsheet. The project’s total capital expenditure (capex) fell from an estimated $64.9-million in the preliminary economic assessment... 

Zimbabwe platinum miners plan base metal refinery, Minister says

By: Bloomberg     9th November 2018 Platinum miners in Zimbabwe plan to jointly develop a base-metal refinery in the country, Mines Minister Winston Chitando said. The processing plant has been under consideration since at least 2014. The project may cost $134-million, the state-owned Zimbabwe Broadcasting Corp. reported in September. 

Tribunal to hold Sibanye, Lonmin merger hearing next week 

By: Simone Liedtke     9th November 2018 The Competition Tribunal will, from November 12 to 14, hear several submissions from parties affected by the proposed merger between precious metals miner Sibanye-Stillwater and platinum group metals (PGMs) miner Lonmin. The Competition Commission, which assesses large mergers prior to referring... 

Amplats hoping to advance fuel cell ambitions with China visit

By: Simone Liedtke     9th November 2018 Anglo American Platinum (Amplats) will be hosting an investor and analyst visit to China on November 12, during which the platinum miner intends to showcase the demand for platinum group metals (PGMs). The visit will focus on the growth of fuel cell vehicle production in China and on gaining an... 

Eastplats shareholder launches court petition against transactions with Union Goal

By: Tasneem Bulbulia     9th November 2018 Eastern Platinum (Eastplats) has received a petition, filed with the Supreme Court of British Columbia by 2538520 Ontario Limited, a shareholder of the company, seeking leave from the court to start a derivative action against certain of its current and former directors in relation to the... 

First mover in Zimbabwe hopeful risk will pay off

By: Tracy Hancock     9th November 2018 Having taken on the risk this year of investing in two exploration projects in Zimbabwe, which is trying to reinvigorate interest in its mining industry, Johannesburg-headquartered integrated resources group Tharisa CEO Phoevos Pouroulis says the country’s mining environment is improving. 

First mover in Zimbabwe hopeful  risk will pay off
PHEOVOS POUROULIS Tharisa is pleased with its interactions with government on the development of the Karo Mining and Salene Chrome assets on the Great Dyke of Zimbabwe

Mining production down 1.8% y/y in September, led by lower gold output 

By: Marleny Arnoldi     8th November 2018 Mining production decreased by 1.8% year-on-year in September, with the largest negative contributor being gold production with a decline of 19% and contributing -3.1 percentage points. The largest positive contributor was platinum-group metals (PGMs), which had a 7.2% production increase,... 

Mining production down 1.8% y/y in September, led by lower gold output

Polymetal sells platinum exploration project

By: Creamer Media Reporter      8th November 2018 Precious metals miner Polymetal has sold its Svetlobor platinum exploration project to a group of Russian buyers for $5.5-million in cash. The company bought the project in 2013 for $9.7-million in stock and subsequently wrote down its carrying value to $4-million on the back of modest... 

Anglo finds returns outweigh risks as it renews Africa focus 

By: Bloomberg     7th November 2018 Anglo American is going where larger rivals fear to tread, returning to its African roots to tap mineral assets with compelling returns. The storied mining company, founded by Ernest Oppenheimer in Johannesburg a century ago, is devoting a third of its exploration budget to the continent,... 

Anglo finds returns outweigh risks as it renews Africa focus
Anglo American CEO Mark Cutifani

Zimbabwe targets $12bn from mineral exports in five years

By: Bloomberg     5th November 2018 Zimbabwe expects to earn $12-billion a year from mineral exports by 2023, Mines Minister Winston Chitando said. Mineral production is expected to be boosted by increased output at Anglo American Platinum’s Unki Mine and Impala Platinum Holdings’s Mimosa project, which have submitted expansion... 

Jubilee's Hernic reaches 2 500 6E oz a month production milestone

By: Creamer Media Reporter      5th November 2018 Aim- and AltX-listed Jubilee Metals' Hernic Platinum project reached a new production milestone in October, producing 2 500 oz of platinum, palladium, rhodium, ruthenium, iridium and osmium, or 6E platinum-group metals (PGMs). "It is very gratifying to see our Hernic project deliver and exceed... 

Sibanye-Stillwater’s US operations in the midst of major growth phase 

By: Simone Liedtke     2nd November 2018 Sibanye-Stillwater’s Blitz project development area, which is adjacent to its Stillwater mine, in Montana, in the US, is in the midst of a significant growth phase, says executive VP for the US region Chris Bateman. He told the media in a conference call this week that the expanded Stillwater... 

Sibanye-Stillwater’s US operations in the midst of major growth phase

Sibanye-Stillwater getting closer to reaching a wage settlement with unions

By: Simone Liedtke     2nd November 2018 JSE- and NYSE-listed Sibanye-Stillwater CEO Neal Froneman has said the company is “much closer” to reaching a reasonable settlement with the National Union of Mineworkers (NUM), Solidarity and Uasa in respect of wages and conditions of service for employees for the period from July 1, 2018, to... 

Reduced compressed-air use saves Lonmin R15m each year

By: Nadine James     2nd November 2018 Platinum miner Lonmin partnered with Pretoria-based engineering company ETA Operations to benchmark the consumption of compressed air at its Marikana operations in North-West. This was done with the aim of improving operational efficiency and reducing the electricity costs of Lonmin’s compressed... 

Reduced compressed-air use saves Lonmin R15m each year
Photo by Bloomberg
ENGENDERING EFFICIENCY The new benchmarking method is currently being rolled-out across multiple shafts at Marikana

Amplats takes all of Mototolo 

By: Martin Creamer     1st November 2018 Platinum group metals (PGMs) mining company Anglo American Platinum (Amplats) said on Thursday that it had completed acquisition of the Mototolo joint venture (JV), which has become a wholly owned asset of the company. The Johannesburg Stock Exchange-listed Amplats, which was a 50% JV partner,... 

Amplats takes all of Mototolo
Photo by Creamer Media
Anglo American Platinum CEO Chris Griffith

Ongoing interventions improve Sibanye-Stillwater safety 

By: Martin Creamer     1st November 2018 The safety performance of precious-metals mining company Sibanye-Stillwater improved markedly in the three months ended September 30 owing to ongoing safety interventions gaining traction at all operations, the company said on Thursday. The tragic safety incidents in the first half of the year,... 

Ongoing interventions improve Sibanye-Stillwater safety
Photo by Creamer Media
Sibanye-Stillwater CEO Neal Froneman

Zimplats profit rises on higher 4E output 

By: Marleny Arnoldi     31st October 2018 Impala Platinum (Implats) subsidiary Zimplats has reported a 4% increase in platinum, palladium, rhodium and gold (4E) tonnes mined to 1.6-million tonnes and a 6% increase in tonnes milled to 1.67-million for the quarter ended September 30. This compares with the 1.8-million tonnes of ore mined... 

Sylvania achieves second-highest production quarter

By: Marleny Arnoldi     31st October 2018 Aim-listed Sylvania Platinum started off its new financial year with earnings before interest, taxes, depreciation and amortisation of $7.1-million for the quarter ended September 30. This came on the back of the production of 19 137 platinum, palladium, rhodium and gold (4E) ounces.  

Nornickel says Q3 nickel output up 9% q/q

By: Reuters     31st October 2018 Russia's Norilsk Nickel (Nornickel) said on Wednesday its consolidated nickel production was at 53 739 t in the third quarter of 2018, up 9% quarter-on-quarter. Nornickel, one of the world's largest nickel and palladium producers, also said its palladium production totalled 699 000 troy ounces,... 

Amplats extends Zizwe Batlase contract at Amandelbult Complex

By: Simone Liedtke     31st October 2018 Platinum miner Anglo American Platinum (Amplats) on Wednesday announced that the contract with joint venture (JV) company Zizwe Batlase for the provision of strip-mining services at the Amandelbult Complex has been extended. Zizwe Batlase is 51% owned by the local community of Baphalane through... 

Implats in talks with potential 1 Shaft buyers, as restructuring proceeds 

By: Simone Liedtke     31st October 2018 Platinum miner Impala Platinum (Implats) achieved the highest first-quarter mill tonnage at its Impala Rustenburg operations since the 2013 financial year, during the quarter ended September 30. Tonnes milled at Impala Rustenburg increased by 5.6% year-on-year to 3.15-million tonnes in the first... 

Growth stock tag possible from Far West surface project –­ DRDGold 

By: Martin Creamer     31st October 2018 When it comes to the gold sector, recovering the precious metal from dumps on surface beats pursuing it in deep, dark and dangerous underground mines. The local gold industry has put many feelers out to access gold on surface and one of the most exciting projects under way is Far West Gold... 

Growth stock tag possible from Far West surface project –­ DRDGold
DRDGold will upgrade this Driefontein 2 plant as part of Phase 1.

GM cautious on switch to platinum even as palladium price soars  

By: Bloomberg     30th October 2018 Palladium’s surge to a record has intensified talk among analysts that carmakers will look to replace it with cheaper platinum for use in pollution-control devices. The auto industry’s answer: Not so fast. Palladium, mainly used to control smog from gasoline engines, is trading near the highest... 

Ramaphosa declares end to 'investment strike' and unveils R290bn in commitments  

By: Terence Creamer     26th October 2018 President Cyril Ramaphosa declared an end to South Africa's proverbial 'investment strike', when he unveiled firm investment commitments of R290-billion across a diverse range of sectors, from mining and energy to infrastructure and manufacturing, at a well attended and vibrant investment... 

Ramaphosa declares end to 'investment strike' and unveils R290bn in commitments
President Cyril Ramaphosa

Waterberg drilling programme increases confidence in mineral resources – PTM

By: Simone Liedtke     25th October 2018 A 2018 drilling programme at TSX-listed Platinum Group Metals’ (PTM’s) 50.02%-owned Waterberg project, in South Africa, has increased confidence in the estimated mineral resources for the project, with 6.2-million platinum, palladium, rhodium and gold (4E) ounces now recognised in the... 

MMP announces shortlist of three in rock-drill innovation challenge 

By: Irma Venter     25th October 2018 The Mandela Mining Precinct (MMP) has announced the three winners of phase 1 of its Isidingo Drill open innovation challenge. They are Novatek, HPE and Fermel. Fermel is a Gauteng-based manufacturer of mechanised machinery for underground hardrock and flameproof mining operations. 

MMP announces shortlist of three in rock-drill innovation challenge
Clen Cook and Alastair Macfarlane

West Kytlim’s 2018 output exceeds estimates

By: Creamer Media Reporter      25th October 2018 The West Kytlim alluvial platinum mine, in the Ural mountains of Russia, finished the 2018 mining season with total raw platinum production “well in advance” of company estimates, listed miner Eurasia Mining reported on Thursday. The mine delivered 165 kg of platinum, or 165% of company... 

Bid to have Lonmin’s mining licence suspended heads to court

By: News24Wire      25th October 2018 The Mining Forum of SA heads to the North West High Court, Mahikeng, this week to have Lonmin's mining licence suspended. The forum says Lonmin has not met the commitments of its Social and Labour Plan (SLP), according to a GroundUp report. It also wants the mining rights of Lonmin-controlled... 

Northam appoints new CFO

By: Creamer Media Reporter      24th October 2018 JSE-listed Northam Platinum has appointed Alet Coetzee CFO, effective November 15. She will succeed Ayanda Khumalo, who will step down as CFO, effective November 1. 

Palladium reaches record on mounting concerns over tight supply

By: Bloomberg     23rd October 2018 Palladium, a precious metal widely used in the automotive industry, has hit an all-time high. The rally has been fueled by concern over supply and speculators piling in to bet on even higher prices. The majority of palladium is used to make catalytic converters in gasoline automobiles, and... 

Amplats lifts FY18 production, sales guidance after robust Q3 performance 

By: Nadine James     23rd October 2018 Anglo American Platinum (Amplats) has again revised its full-year platinum group metal (PGM) production guidance upwards and now expects to produce between 5.1-million and 5.2-million ounces on the back of robust third-quarter production. The company initially expected to produce between... 

RBPlat achieves improvements in key performance indicators in Sept quarter 

By: Tasneem Bulbulia     22nd October 2018 Royal Bafokeng Platinum (RBPlat) recorded improvements across key performance indicators in the quarter ended September 30. The company achieved an 18.4% increase in tonnes delivered to concentrators to 939 000 t, while tonnes milled increased by 18.9% to 981 000 t, supported by higher delivered... 

Palladium nears record after hedge funds piled in amid shortages

By: Bloomberg     22nd October 2018 Palladium climbed near a record as the US plans to pull out of the nuclear weapons pact with Russia, fueling tensions with one of the largest producers at a time when consumers are already scrambling for supplies. Production will trail consumption by 481 000 ounces this year and deficits will... 

Lonmin undertakes refinancing, delivers on results promise 

By: Simone Liedtke     22nd October 2018 Platinum miner Lonmin has entered into a $200-million metal purchase agreement with Pangaea Investments Management (PIM), an associate company of Jiangxi Copper Company (JCC), which will provide the miner with improved liquidity and remove certain restrictive current lender conditions. Of the... 

Lonmin undertakes refinancing, delivers on results promise
Photo by Creamer Media
Lonmin CEO Ben Magara

Mantashe holds collaborative meeting with MCSA

By: Tasneem Bulbulia     22nd October 2018 Mineral Resources Minister Gwede Mantashe met with the executive of the Minerals Council South Africa and CEOs in the coal and platinum sectors on Friday to receive a briefing on the challenges faced by companies in these sectors, and to work on finding solutions for the long-term sustainability... 

Harmony, Amplats report fatalities

By: Marleny Arnoldi     19th October 2018 Precious metals miners Harmony Gold and Anglo American Platinum (Amplats) both reported fatalities on Friday. A Harmony employee died after falling from a height, while working in the shaft bottom at the Kusasalethu mine, near Carletonville.  

Amid falling platinum prices, PGM miners upping chrome ore production to improve profitability

By: Nadine James     19th October 2018 Some platinum group metals (PGM) producers have become large producers of chrome ore to improve their profitability, says Kagiso Asset Management investment analyst Mandi Dungwa. South Africa is the world’s largest chrome producer, delivering more than half of the global ore supply in 2017, with... 

Amid falling platinum prices, PGM miners upping  chrome ore production to improve profitability

August mining production down 9.1% y/y

By: Creamer Media Reporter      18th October 2018 South Africa’s mining production decreased by 9.1% year-on-year in August, Statistics South Africa reported on Thursday. The decrease was driven by lower output in the iron-ore, gold and platinum group metals (PGMs) sectors. 

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