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Platinum Group Metals News

Investors can't get enough of palladium as supply shortage looms

By: Bloomberg     16th January 2018 Last year’s best-performing commodity hasn’t lost its touch. Spot palladium prices have soared above a record that stood for 17 years. That followed its best year since 2010 on growing demand from carmakers for the metal used to reduce vehicle pollution. While palladium’s supported by a lack of... 

Jubilee acquires 29% stake in BMR

By: Creamer Media Reporter      15th January 2018 Alt-X- and Aim-listed Jubilee Metals Group has acquired a 29.01% interest in the enlarged issued share capital of BMR Group for £500 000 cash and the issue of 63-million new ordinary shares of Jubilee. The acquisition increases Jubilee’s effective interest in the Zambian Kabwe project to 57.41%,... 

Glencore reserves should be valued higher – analysts

By: Martin Creamer     15th January 2018 Investors should be prepared to value the reserves of metal that Glencore owns more highly to reward the proactive approach that the London- and Johannesburg-listed diversified mining company has towards managing its assets. Reflecting on the decision of Glencore to pull metal from the market... 

Glencore reserves should be valued higher – analysts
Photo by Bloomberg
Glencore CEO Ivan Glasenberg

Palladium bulls rule as prices hit record on tight supply

By: Bloomberg     15th January 2018 Palladium bulls are having a party. The metal used to curb pollution from gasoline-fueled engines climbed to a record in the spot market amid signs of robust demand. In China, Honda Motor Co.’s vehicle sales climbed 16% to a record last year. General Motors Co.’s sales in the Asian nation, the... 

Smarter mining, manufacture, agriculture needed, says IDC’s Maia 

By: Martin Creamer     12th January 2018 South Africa needs to aim towards smarter mining, smarter agriculture and smarter manufacturing. “It’s about taking all the major sectors of the economy forward, with each feeding on the other,” says Industrial Development Corporation (IDC) research and information head Jorge Maia of the roles... 

Smarter mining, manufacture, agriculture needed, says IDC’s Maia
Industrial Development Corporation research and information head Jorge Maia and Unctad economic affairs officer Stefan Csordas respond to Mining Weekly Online’s Martin Creamer. Video and Video Editing: Nicholas Boyd.

PTM widens Q4 loss as accounts due mount

By: Henry Lazenby     12th January 2018 Precious metals project developer Platinum Group Metals (PTM) has widened its net loss for the first fiscal quarter ended November 30 to $12.44-million, or $0.08 a share, compared with a net loss of $2.45-million, or $0.03 a share a year earlier, the Vancouver-based company reported late on... 

PTM widens Q4 loss as accounts due mount

Strong commodity price rally lifts IHS Materials Price Index for ninth consecutive week

By: Henry Lazenby     12th January 2018 The IHS Materials Price Index (MPI) is in its ninth consecutive week of gains, jumping 2.8% last week – the strongest weekly performance since early September. According to IHS Markit economist Cole Hassay, the MPI was supported by broad-based positive indicators, with eight of ten subcomponents... 

Protestor killed during community uprising at RBPlat’s North shaft

By: Megan van Wyngaardt     11th January 2018 Royal Bafokeng Platinum (RBPlat) on Thursday said a person was killed after a group of more than 100 protestors – including former employees and unknown persons – attempted to gain unlawful access to the shaft premises at its North Shaft, near Rustenburg, on Wednesday evening. The premises were... 

Protestor killed during community uprising at RBPlat’s North shaft

Burkina Faso project acquisition opens multi-metal opportunity – Pegasus

By: Megan van Wyngaardt     10th January 2018 ASX-listed Pegasus Metals on Wednesday announced that it would buy Scorpion Minerals, which holds the rights to acquire up to a 70% joint venture (JV) interest in the Dablo palladium/platinum/gold/nickel/copper exploration project, located in Burkina Faso for A$360 000. This will be paid through... 

Burkina Faso project acquisition opens multi-metal opportunity – Pegasus

Tharisa enters 2018 with a bang

By: Martin Creamer     10th January 2018 The market fundamentals for chrome remain sound with continued growth forecast for the global stainless steel industry, Tharisa said on Wednesday, when it reported a strong operational performance in the three months to December 31. The Johannesburg Stock Exchange-listed chrome and platinum group... 

Tharisa enters 2018 with a bang
Tharisa CEO Phoevos Pouroulis

CMTI Group gears up to supply gold, platinum mines

By: Megan van Wyngaardt     9th January 2018 Mining equipment and machinery supplier CMTI Group, which started operations at its Gauteng-based factory last year, aims to raise $20-million before the close of the first quarter of this year to increase its production capacity. Initial indications and expressions of interest from potential... 

CMTI Group gears up to supply gold, platinum mines
CMTI MD Danie Burger

Amplats reaches deal with South African tribal leader in community fund row

By: Reuters     9th January 2018 A South African tribal leader has agreed to a more transparent structure for a R175-million ($14-million) community trust funded by Anglo American Platinum (Amplats), a move that aims to curb unrest around the firm's most profitable mine. The changes relate to the Mapela Trust, which was set up... 

Jubilee raises £4.5m to support metals expansion strategy

By: Natasha Odendaal     9th January 2018 AltX- and Aim-listed Jubilee Metals has secured investment from financial institutions Miton Group and an international wealth group arranged through Veddis. The company successfully completed a placing of 125-million new ordinary shares of 1p each in Jubilee at a price of 3.6p apiece, to raise... 

Jubilee raises £4.5m to support metals expansion strategy
Photo by Duane daws
Jubilee CEO Leon Coetzer

Even with Trump minerals order, US miners seen trailing China

By: Reuters     23rd December 2017 Even if Donald Trump’s initiative on 'critical minerals' strengthens the US mining industry, domestic companies would still struggle to compete with low-cost Chinese competitors, according to Bloomberg Intelligence. The president signed an executive order this week to identify new US sources of... 

Even with Trump minerals order, US miners seen trailing China

OPINION: Platinum industry needs productive dialogue to survive

By: Creamer Media Reporter      19th December 2017 Platinum group metals (PGM) mining finds itself in a precarious situation. The price of platinum is in decline, producers’ profits have dropped significantly, the operational costs have been increasing, the threats of retrenchments are constant, the current regulatory uncertainty around the... 

OPINION: Platinum industry needs productive dialogue to survive

Trade union positive about Lonmin’s Sibanye-Stillwater acquisition

By: Creamer Media Reporter      19th December 2017 Trade union Solidarity is positive about platinum producer Lonmin's R5-billion acquisition by Sibanye-Stillwater, announced on December 14. Lonmin, one of the world’s largest platinum producers, has been under severe pressure this year owing to capital structuring and liquidity concerns. Low... 

Pan African completes BEE restructure

By: Creamer Media Reporter      15th December 2017 Dual-listed Pan African Resources has completed the restructuring of its black economic empowerment (BEE) ownership structures. The company has replaced the current BEE equity shareholdings in the company, held through interests in PAR Gold, with BEE shareholdings in Emerald Panther Investments. 

AMCU laments ‘lack of consultation’ over Sibanye-Stillwater’s acquisition of Lonmin 

By: Dylan Slater     15th December 2017 Trade union, the Association of Mineworkers and Construction Union (AMCU) has taken issue with the proposed all-share buyout of platinum miner Lonmin by Sibanye-Stillwater 

Amplats expects double-digit rise in FY17 earnings

By: Natasha Odendaal     15th December 2017 Cost reductions and an improved operational performance are expected to bolster earnings for the year ended December 31, by at least 20%, Anglo American Platinum (Amplats) said on Friday. In an update to shareholders, the company said headline earnings and headline earnings a share for 2017 would... 

Retention of jobs critical following Sibanye-Lonmin deal – Zwane

By: Reuters     15th December 2017 Retaining jobs has to be a priority following Sibanye-Stillwater's takeover of platinum producer Lonmin , the South African mining minister said on Thursday. "The stability and sustainability of the industry is key for the economy, and the creation and retention of jobs in this sector is a... 

Company fills gap in market

By: Marleny Arnoldi     15th December 2017 Platinum group metal (PGM) tailings reprocessing company Tailing Technology (Tailtech) is investigating the potential development of a tailings plant to add value to an existing operation owned by platinum miner Anglo American Platinum (Amplats).  

Company fills gap in market
SEIZING OPPORTUNITY Tailing Technology saw a gap in the market for the installation of a plant at the back-end of an existing mine to retreat tailings material

Mines urged to leverage technology to supercharge human capital development

By: Nadine James     15th December 2017 Mining companies should leverage technology to spur employee development, aiding in the upskilling of staff while enhancing employee and resource management, says information technology services company Wipro Southern Africa. While mines have incrementally implemented technology into their... 

State of local mining regulations shun investment, says CoM report 

By: Dylan Slater     14th December 2017 The findings of a recently conducted Chamber of Mines (CoM) survey indicate that if South Africa’s mining industry shifts its focus to create an attractive policy, regulatory and governance environment – through ethical leadership, good governance and the adoption of competitive, stable and... 

Sibanye-Stillwater to acquire embattled Lonmin, completes PGMs strategy

By: Mia Breytenbach     14th December 2017 Precious metals mining company Sibanye-Stillwater has made an all-share offer to acquire platinum group metals (PGMs) producer Lonmin. The offer values Lonmin at about £285-million, or R5.15-billion. 

Sibanye-Stillwater to acquire embattled Lonmin, completes PGMs strategy
Photo by Duane Daws
Sibanye-Stillwater CEO Neal Froneman and Lonmin CEO Ben Magara

Lonmin completes Pandora buyout

By: Dylan Slater     13th December 2017 Platinum group metals (PGMs) producer Lonmin has taken full ownership of the Pandora joint venture (JV), after having acquired platinum miner Anglo American Platinum’s (Amplats’) 42.5% stake and mining and investment exploration company Mvelaphanda Resources’ 7.5% interest in the JV 

Amplats makes progress in repositioning its portfolio

By: Dylan Slater     13th December 2017 Platinum miner Anglo American Platinum (Amplats) is making significant progress in repositioning its portfolio. This has, thus far, enabled the miner to move its production down the cost curve, thereby resulting in a more value enhancing portfolio. 

Amplats makes progress in repositioning its portfolio
Photo by Duane Daws
Amplats CEO Chris Griffith

Crucial for commodity countries to build economic resilience – Unctad 

By: Martin Creamer     11th December 2017 Without policy change, commodity-dependent developing countries risk falling short of achieving their sustainable development goals (SDGs) by 2030, United Nations Conference on Trade and Development (Unctad) economic affairs officer Stefan Csordas warned on Monday. Unctad and the Food and... 

Crucial for commodity countries to build economic resilience – Unctad
Unctad’s Stefan Csordas discusses commodities report with Mining Weekly Online’s Martin Creamer. Video: Nicholas Boyd. Video Editing: Lionel de Silva.

Lead project engineers appointed for Waterberg JV project

By: Creamer Media Reporter      11th December 2017 A technical committee appointed by Waterberg JV Resources, which holds the Waterberg platinum project, in South Africa, has appointed Stantec Consulting International and DRA Projects South Africa as lead independent project engineers. Stantec will focus on underground mining engineering and... 

Cyril Ramaphosa calls for mining sector action 

By: Martin Creamer     11th December 2017 South Africa must urgently break the ongoing deadlock on the regulation and transformation of the mining sector to ensure the proper use of this country’s world-class mineral resources, says Deputy President Cyril Ramaphosa. In an article on the CR17 Siyavuma campaign website, ahead of this... 

Cyril Ramaphosa calls for mining sector action
Photo by Duane Daws
Deputy President Cyril Ramaphosa

First mover Noront shifts RoF focus to Cu/Zn exploration

By: Henry Lazenby     8th December 2017 With the first commitments in place to build roads into Northern Ontario’s emerging Ring of Fire (RoF) mining camp, regional first mover Noront Resources is taking the opportunity to continue to build out its inventory of polymetallic resources by prioritising copper/zinc targets for exploration... 

First mover Noront shifts RoF focus to Cu/Zn exploration

Mine fatalities in South Africa rise first time in decade 

By: Bloomberg     8th December 2017 For the first time in almost a decade, more people are dying in South African mines, the world’s deepest and among the most dangerous. There were 81 fatalities from January through November, according to data from the Chamber of Mines, an industry lobby group. Harmony Gold Mining Co. reported a... 

Mine fatalities in South Africa rise first time in decade

Owner’s engineer role by ‘Proudly South African’ Erudite pleasing Perth 

By: Martin Creamer     8th December 2017 New ‘Proudly South African’ start-up Erudite Strategies has hit a rich vein of acceptance in Australia, where investors in junior mining projects in Africa are showing alacrity in taking up its unique client representative and owner’s engineer offering. Each of Erudite’s three leading lights has... 

Owner’s engineer role by ‘Proudly South African’ Erudite pleasing Perth
Mining Weekly Online’s Martin Creamer interviews Johann de Bruin, the founding director of the new project engineering company Erudite. Video: Nicholas Boyd. Video Editing: Nicholas Boyd and Lionel da Silva.

Helping mines find the real source of nitrates in water

By: Nadine James     8th December 2017 The issue of water quality has become topical in the aftermath of the contamination in the Olifants River catchment in Mpumalanga, as well the surfacing of acid mine drainage around Gauteng and other provinces.   Mining consultancy SRK Consulting’s principal hydrogeologist Sarah Skinner... 

Mining production sees 5.2% increase in October

By: Anine Kilian     7th December 2017 Mining production increased by 5.2% year-on-year in October 2017, according to the most recent findings from Statistics south Africa. The largest positive contributors were iron-ore, which contributed 2.4 percentage points and coal, which contributed 1.5 percentage points. 

Pallinghurst targets London, okays share buyback, halves executive pay

By: Martin Creamer     7th December 2017 Diversified mining and marketing company Pallinghurst, which has moved fast to stabilise the now-integrated coloured gemstone acquisition, is initiating a listing on the main board of the London Stock Exchange, going ahead immediately with a share buyback programme and benefitting from executive... 

Pallinghurst targets London, okays share buyback, halves executive pay
Photo by Duane Daws
Pallinghurst CE Arne Frandsen

Eurasia plans to operate at least two openpits at West Kytlim in 2018

By: Mariaan Webb     5th December 2017 London-listed Eurasia Mining is considering bringing on board mining contractors to operate more than one openpit at the West Kytlim platinum and gold mine in the Ural mountains to mitigate the risk of a single operator. This comes as the contractor, RegionMetall, discontinued operations in... 

Change or lose another 100 000 mining jobs – Cutifani

By: Martin Creamer     4th December 2017 Without change, the South African mining industry would lose another 100 000 jobs, said Anglo American CEO Mark Cutifani, who six years ago accurately predicted the recent 100 000 job demise in South African mining. “I'll say it again, absent of change, we’ll lose another 100 000 jobs,” the... 

Change or lose another 100 000 mining jobs – Cutifani
Photo by Duane Daws
Anglo American CEO Mark Cutifani

Winners of PlatAfrica 2017 jewellery design and manufacturing competition unveiled

By: Nadine James     1st December 2017 The winners of the eighteenth PlatAfrica 2017 jewellery design and manufacturing competition were announced on November 2, during a ceremony hosted by Anglo American Platinum (Amplats) at the Theatre on the Track conference centre at Kyalami, Midrand.  Amplats’ yearly competition was presented in... 

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