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Platinum Group Metals News

Palladium rally may mean auto catalytic converter price hikes coming

By: Reuters     5th February 2018 With the price of palladium spiking to a record high last month, the effects could be felt in the automotive industry as manufacturers of catalytic converters consider raising their prices and may change the mix of metals in their products. Increased automotive industry demand and a supply... 

Sibanye-Stillwater achieves positive FY17 operating results

By: Simone Liedtke     5th February 2018 Precious metals producer Sibanye-Stillwater produced 1.4-million ounces of gold in the year ended December 31, exceeding guidance of 1.35-million to 1.38-million ounces. In a trading update published on Monday, the company reported that gold production for the second half of the year was 4%... 

Bezant introduces new investor group with £600 000 raising

By: Creamer Media Reporter      5th February 2018 Minerals explorer Bezant Resources has secured the support of Tiger Resource Finance, alongside its individual directors, including Colin Bird, as strategic investors in its latest equity fundraising. The company announced on Monday that it had raised £600 000 through the subscription and placing... 

CoM sees resurgence in hope, green shoots in South African mining industry

By: Mia Breytenbach     5th February 2018 There is new sense of hope in the mining industry and in South Africa, says Chamber of Mines (CoM) CEO Roger Baxter. “It gives us a new confidence that a resurgence is taking place in the industry for the year ahead,” said Baxter, who spoke at a media briefing at the Investing in African Mining... 

CoM sees resurgence in hope, green shoots in South African mining industry
Photo by Duane Daws
Chamber of Mines CEO Roger Baxter

Eurasia impressed by speed that Monchetundra application is progressing

By: Mariaan Webb     2nd February 2018 The Russian federal commission on suboil use, Rosnedra, has completed its review of the Monchetundra application, approving a draft of the mining permit for the platinum and palladium project on the Kola Peninsula, London-listed Eurasia reported on Friday. The application for a mining permit was... 

Zimplats quarterly profit surges 69% on higher sales

By: Reuters     1st February 2018 Zimplats on Thursday reported a 69% rise in profit to $41-million for the quarter ended December, helped by the sale of platinum group metal stockpiles from the previous quarter and higher prices. Zimbabwe's largest platinum miner, which is 87% owned by Impala Platinum Holdings, sells platinum... 

Tharisa entering multi-project PGM-chrome growth phase

By: Martin Creamer     31st January 2018 Platinum group metals (PGMs) and chrome co-producer Tharisa Minerals, which predicts that a global chrome ore deficit is on the horizon, has published details of its strategic Vision 2020 growth thrust. “Tharisa is entering an exciting growth phase,” CEO Phoevos Pouroulis said in the release to... 

Tharisa entering multi-project PGM-chrome growth phase
Photo by Duane Daws
Tharisa Mine this week.

Nornickel says palladium output may fall in 2018

By: Reuters     31st January 2018 Norilsk Nickel, the world's largest palladium producer, said on Wednesday its production of palladium could decline in 2018, while the output of nickel from Russian raw material would remain flat. Nornickel, part-owned by Russian tycoon Vladimir Potanin and aluminium giant Rusal, previously said... 

Nornickel says palladium output may fall in 2018

New R230m chrome tailings plant launched

By: Martin Creamer     31st January 2018 South African mine-to-market chrome producer ChromTech Holdings said on Wednesday that it had completed a R230-million chrome tailings retreatment plant at Lonmin, where the plant forms part of the platinum-mining company’s bulk retreatment of upper group two tailings initiative, which is... 

New R230m chrome tailings plant launched
Thakadu Resources' Ruli Diseko and CromTech Holdings' Craig Bennett

Jubilee improves further in Q4

By: Natasha Odendaal     31st January 2018 Aim- and AltX-listed Jubilee Metals’ metals recovery division has achieved across-the-board growth during the fourth quarter of 2017. Hernic’s operational earnings increased by 94% quarter-on-quarter to £970 000, while project revenue increased by 33% to £2.05-million. 

Chrome ore supply deficit ahead – Tharisa

By: Martin Creamer     30th January 2018 Platinum-group metals (PGMs) and chrome coproducer Tharisa Minerals CEO Phoevos Pouroulis is predicting a shortage of chrome ore supply in the short to medium term, driven by burgeoning stainless steel demand. Chrome ore is fundamental to the manufacture of stainless steel, demand for which is... 

Chrome ore supply deficit ahead – Tharisa
Photo by Duane Daws
Tharisa Minerals CEO Phoevos Pouroulis

Zimbabwe's chamber of mines expects 2018 gold to rise to record high of 30 t

By: Reuters     30th January 2018 Zimbabwe’s gold production is projected to rise to a record 30 t this year as producers ramp up output, a chamber of mines official said on Tuesday. Pardon Chitsuro told a business meeting that platinum production would also rise to 15.5 t this year from 14.2 t in 2017. 

Phoenix acquisition bolsters Sylvania’s December quarter output

By: Natasha Odendaal     30th January 2018 Aim-listed Sylvania Platinum’s Sylvania dump operations (SDO) achieved a 4% increase in production to 17 302 oz of platinum, palladium, rhodium and gold (4E) platinum group metals (PGMs)  during the quarter ended December 31. This followed the acquisition and integration of Phoenix Platinum... 

Phoenix acquisition bolsters Sylvania’s December quarter output
Photo by Duane Daws
Sylvania Platinum CEO Terry McConnachie

Northam completes R175m acquisition of mothballed Eland mine

By: African News Agency      30th January 2018 South African platinum producer Northam Platinum said on Tuesday it had finalised its purchase of the mothballed Eland platinum mine from Glencore. Northam announced in February 2017 that it would acquire full ownership of the Eland mine and ancillary infrastructure near Brits in the North West... 

Tharisa's Pouroulis meets Zimbabwe leader, seeks opportunities

By: Bloomberg     26th January 2018 Tharisa CEO Phoevos Pouroulis met Zimbabwe’s new President Emmerson Mnangagwa on January 18, as the Cyprus-based platinum and chrome mining company seeks opportunities in the country with the world’s second-biggest reserves of the metals. Pouroulis was accompanied to the meeting in Mnangagwa’s... 

Corporation to strengthen partnerships at Indaba

By: Marleny Arnoldi     26th January 2018 State-owned financial services provider Export Credit Insurance Corporation (ECIC) is keen to deepen partnerships with South African exporters who offer their capital goods and services in international and emerging markets, including in Africa.  

Corporation to strengthen partnerships at Indaba
PAUL MOJALEFA PAUL MOJALEFA The Export Credit Insurance Corporation will exhibit to further promote and position its brand in the mining sector

Tailings retreatment company to emphasise value of its plants

By: Marleny Arnoldi     26th January 2018 Although tailings retreatment has been practised for 16 years in South Africa, it is still relatively new; it is not mines’ core business and, therefore, they require convincing with regard to the profitability of installing a plant at the back-end of their operations, says platinum group metals... 

Tailings retreatment company to emphasise value of its plants
Photo by Duane Daws
ERICA LAUBSCHER, TANIA PIENAAR & DAVE BAIGENT One of Tailtech’s strengths lies in its ability to run its plants located at large mining operations at a gross profit of up to 95% during some months

SA mining will perform relatively well – DMR

By: Nadine James     26th January 2018 Improving commodity prices and upward trends in global demand, especially from major South African trading partners, are expected to reinvigorate the mining industry, enabling it to perform relatively well throughout 2018, the Department of Mineral Resources (DMR) states. The DMR notes that with... 

Water lab services in demand

By: Nadine James     26th January 2018 Isando-based analytical laboratory Set Point Laboratories – a subsidiary of industrial group Torre Industries – has seen an increased number of enquiries and work for its water laboratory division over the past 12 months, says Set Point senior analyst Moses Lelaka. The increased demand for the... 

Water lab services in demand
MOSES LELAKA Set Point analysts test the water monthly at one of its Gauteng-based mining clients

Civil engineering solutions provider secures new contracts

26th January 2018 Civil engineering solutions provider Concor Infrastructure, formerly known as Murray & Roberts Infrastructure, is well positioned to take advantage of the recent increase in optimism in the mining space, with company representatives poised to attend the 2018 Investing in African Mining Indaba in... 

Civil engineering solutions provider secures new contracts
ERIC WISSE Concor Infrastructure secured the contract for the earthworks and civils for the box cut at Ivanhoe Mines’ Platreef mine

Exhibitor cautiously optimistic about 2018

By: Nadine James     26th January 2018 Analytical services provider African Mineral Standards (AMIS) – a subsidiary of JSE-listed industrial group Torre Industries – is a producer of mineral certified reference materials (CRMs) and has a core focus on analytical services related to mining and exploration, which they will exhibit at... 

Exhibitor cautiously optimistic about 2018
SIGNED, SEALED, DELIVERED AMIS’ offering of certified reference materials can be used for analytical method validation, calibration of analytical equipment and in procedural quality control programs in assay laboratories

Group aims to increase brand awareness at Mining Indaba

By: Nadine James     26th January 2018 South African industrial group Torre Industries is exhibiting at the 2018 Investing In African Mining Indaba with the aim of increasing the group’s brand awareness among local and international mining industry players. The JSE-listed group has nine business units across three segments: parts and... 

Group aims to increase brand awareness at  Mining Indaba
JON HILLARY There are numerous growth opportunities within the existing business units as well as in peripheral businesses around Torre’s current subsidiaries

Major mining software previewed at Indaba

By: Nadine James     26th January 2018 Mining software company MICROMINE will provide previews of its major product releases – Geobank 2018 and Micromine 2018 – at the Investing in African Mining Indaba, which will take place at the Cape Town International Convention Centre from February 5 to 8. The company will showcase its entire... 

Major mining software previewed at Indaba
PITRAM SOFTWARE Micromine launched a new version of Pitram in October 2017

Mining Indaba to provide ‘first-hand experience’ of return of investor appetite

By: Nadine James     26th January 2018 With commodity prices improving and the mining industry moving towards positive growth, indications are that participants at the Investing in African Mining Indaba 2018 will experience the “return of investor appetite” first hand, says Mining Indaba MD Alex Grose.  This renewed investor interest... 

Mining Indaba to provide ‘first-hand experience’ of return of investor appetite

Bokoni closure contributes to lower Q4 PGMs output at Amplats

By: Creamer Media Reporter      25th January 2018 Anglo American Platinum (Amplats) produced 1.22-million ounces of platinum group metals (PGMs) in the fourth quarter of 2017, a 4% year-on-year decrease, as a result of the closure of unprofitable ounces at the Bokoni mine and the temporary closure of the Mototolo concentrator. PGM concentrate... 

Goldman, Citi final bidders for Scotiabank's metals business – sources

By: Reuters     24th January 2018 The field of prospective bidders for ScotiaMocatta, the metals trading arm of Canada's Bank of Nova Scotia, has narrowed to two, three banking and industry sources said on Wednesday. The two - Goldman Sachs Group and Citi - are undertaking due diligence checks, the sources said. 

Gold Fields sells Finnish platinum project

By: Creamer Media Reporter      24th January 2018 Dual-listed Gold Fields has sold its palladium-rich, polymetallic Arctic platinum project (APP), in northern Finland, to Finnish subsidiary of private equity fund CD Capital Natural Resources Fund III. The purchase consideration includes $40-million in cash and a 2% net smelter return royalty on... 

Thakadu’s nickel plant secures R50m black industrialist grant

By: Martin Creamer     23rd January 2018 Innovative metals and energy company Thakadu Battery Materials has secured a R50-million black industrialist grant from South Africa’s Department of Trade and Industry (DTI) for the construction of its pure nickel sulphate plant in North West province, which will make use of platinum producer... 

Thakadu’s nickel plant secures R50m black industrialist grant
Thakadu CEO Ruli Diseko

Zimbabwe may scrap local ownership rule on platinum, diamonds

By: Bloomberg     23rd January 2018 Zimbabwe, which has the world’s second-biggest platinum reserves, may lift a requirement that companies mining the metal or diamonds must be at least 51%-owned by black citizens of the country, President Emmerson Mnangagwa said. Mnangagwa, who became president in November after Robert Mugabe... 

Resilient Lonmin delivers sturdy output, extracts cash from tailings

By: Martin Creamer     22nd January 2018 Embattled but resilient platinum company Lonmin, which is enthusiastically embracing the Sibanye-Stillwater’s offer made to it, did all its stakeholders proud in the fatality-free first quarter of its new financial year by putting in a sturdy operational performance that saw sales rise 9%,... 

Resilient Lonmin delivers sturdy output, extracts cash from tailings
Lonmin CEO Ben Magara

2017's worst-returning precious metal becomes hedge fund darling

By: Bloomberg     22nd January 2018 After lagging behind other precious metals last year, platinum is finally outperforming, and hedge funds are taking notice. Money managers increased their bets on a rally for platinum, a commodity used in pollution-control devices for cars. Investors had been pessimistic on prices until the... 

NUM says branch leader at Lonmin unit shot dead

By: Reuters     19th January 2018 The National Union of Mineworkers (NUM) said on Friday that its branch chairman at Eastern Platinum Mine, a unit of Lonmin, was shot by unknown assailants and subsequently died in hospital. The shooting is the latest in a spate of such incidents on the platinum belt, which has been the scene of... 

Platinum miner Lonmin's lenders relax loan agreements again

By: Reuters     18th January 2018 Platinum miner Lonmin has received a further waiver on its debt agreements from its lenders, preventing a default, the South Africa-focused company said on Thursday. London-listed Lonmin, which is being bought by Sibanye-Stillwater, has been battling liquidity issues caused by combination of low... 

New ‘disruptive’ mine borer heads for Indaba unveiling

By: Martin Creamer     18th January 2018 A new Proudly South African mine tunnel borer that requires no blasting, delivers higher production advances, comes with a collaboration imprimatur and can be retrofitted to existing operations, will be unveiled at next month’s Mining Indaba in Cape Town and commissioned in the third quarter of... 

New ‘disruptive’ mine borer heads for Indaba unveiling
Photo by Duane Daws
Danie Pretorius

Canadian miners welcome new federal business ethics ombudsman

By: Henry Lazenby     18th January 2018 Canada’s Liberal government has introduced a new federally mandated Ombudsman for Responsible Enterprise (CORE) to investigate human rights complaints about the overseas operations of Canadian companies. The watchdog will investigate complaints and, if warranted, will make recommendations to... 

Canadian miners welcome new federal business ethics ombudsman

DRA expands Asia-Pacific footprint

By: Martin Creamer     17th January 2018 Global engineering, project delivery, contract operations specialist and asset management group DRA’s acquisition of Perth-based Minnovo expands its Australian footprint and adds depth to its metallurgical, engineering, procurement, project management, construction and commissioning capabilities... 

DRA expands Asia-Pacific footprint
Photo by Duane Daws
DRA CEO Wray Carvelas

Tribunal approves sale of Maseve mine to Royal Bafokeng

By: Anine Kilian     17th January 2018 The South African Competition Tribunal has approved the sale of TSX-listed Platinum Group Metals’ (PTM’s) Maseve Investment to Royal Bafokeng Platinum (RBPlat). The first step of the $74-million deal is under way and will see RBPlat pay an initial $58-million in cash to acquire the concentrator... 

Palladium risks tripping up as prices stampede higher

By: Reuters     17th January 2018 Palladium, the hottest property in the precious metals deck last year, is tipped for a record performance in 2018 even among bearish forecasters, but the metal could become a victim of its own success. The prospect of sharply higher prices could well prompt substitution of the metal for cheaper... 

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