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Palladium News

South Africa a focal point of Anglo’s A-to-Z review

By: Martin Creamer     11th December 2013 South Africa is a focal point of Anglo American’s much-publicised, across-the-board operational review, which was fleshed out in an investor day media conference call hosted by Anglo American CEO Mark Cutifani. The investor presentation, which took place from London, was webcast live on the... 

Sable Platinum changes tack on two projects

By: Martin Creamer     10th December 2013 JSE-listed Sable Platinum has accepted a nominal R151 payout to exit one exploration project and will not receive the expected funding from a black economic-empowerment (BEE) partner on another, separate exploration endeavour. Headed by CEO James Allan, Sable is engaging in internal... 

James Allan
Photo by Duane Daws
James Allan

Sandstorm Gold to review investment in Colossus Minerals’ Brazil mine

By: Henry Lazenby     7th December 2013 Gold streaming firm Sandstorm Gold’s TSX-listed stock on Friday took a C$0.27, or 5.95%, hit after it announced that it would reconsider its investment position on Colossus Minerals’ Serra Pelada gold/platinum/palladium mine, in Brazil. The TSX-listed shares of Colossus on Friday also slid... 

Cerra Pelada
Photo by Colossus Minerals
Cerra Pelada

Friedland’s fireside remarks potentially inflammatory to SA platinum mining 

By: Henry Lazenby     6th December 2013 Legendary mining entrepreneur and self-made billionaire Robert Friedland ran the risk of inflaming tension in South Africa at a very sensitive time for platinum miners with his recent “fireside” remarks that underground platinum miners in the country were underpaid, market analysts at SP Angel,... 

Ivanhoe Mines executive chairperson Robert Friedland
Photo by Duane Daws
Ivanhoe Mines executive chairperson Robert Friedland

SA's legislative interventions failed to create wealth – UK analysts

By: Henry Lazenby     6th December 2013 The passing on Thursday of former South African President Nelson Mandela – a world icon for peace and reconciliation – on Friday prompted market analysts at SP Angel, in London, to take a pensive look at how South Africa’s renewed legislative environment had helped to boost personal wealth... 

SA's legislative interventions failed to create wealth – UK analysts

More private equity investment expected in mining – Deloitte 

By: Martin Creamer     4th December 2013 More private equity investment is on the horizon for the mining sector, Deloitte South Africa mining industry leader (assurance) Tony Zoghby said on Wednesday. In 2012 alone, eight mining funds raised private equity of $8.5-billion as mining majors wrote off asset value of $75-billion in... 

Tony Zoghby
Deloitte South Africa mining industry leaders Tony Zoghby and Abrie Olivier tell Mining Weekly Online’s Martin Creamer that More innovative forms of financing were on the horizon as well as a study on how South Africa’s Mining and Petroleum Resources Development Act Amendment Bill stacks up against country’s National Development Plan. Video: Darlene Creamer. Editing: Shane Williams.

Accumulation, anaemic market creating negative platinum sentiment 

By: Martin Creamer     4th December 2013 Current negative platinum sentiment is a result of the delivery of an accumulation of mined and recycled metal into a market that does not really need it at the moment, says Impala Platinum marketing executive Derek Engelbrecht. Engelbrecht was commenting on a contention put forward by Dr Fraser... 

Derek Engelbrecht
Photo by Duane Daws
Derek Engelbrecht

Struggling Sable Platinum piling up losses, burning cash

By: Martin Creamer     28th November 2013 JSE-listed exploration company Sable Platinum, which has accumulated financial losses of R79-million, is burning cash at a rate of R550 000 a month. Current cash will be sufficient to cover expenses until January 2014. Sable has a cash balance of R1 680 586 and has been using its own capital to... 

James Allan
Photo by Duane Daws
James Allan

South Africa’s mining sector a ‘sunrise industry’ – Motlanthe

By: Henry Lazenby     27th November 2013 Despite some of South Africa’s mining sector critics pointing out the negatives, South African Deputy President Kgalema Motlanthe, who is on an official State visit to Canada, on Tuesday conversely endeavoured to lift out the positives, saying a lot of progress had been made in transforming the... 

South Africa’s Deputy President Kgalema Motlanthe
Photo by Duane Daws
South Africa’s Deputy President Kgalema Motlanthe

SA mines installing 170 000 safety bolts a day, 200 km safety netting

By: Martin Creamer     27th November 2013 South Africa’s mines are installing net-and-bolt safety systems at a rate of 170 000 safety bolts a day and 200 km of safety netting a day as part of an initiative that last year slashed fall-of-ground fatalities by 80%. The industry also made great strides with new proximity detection... 

Sietse van der Woude and Martin Creamer
Photo by Duane Daws
Sietse van der Woude and Martin Creamer

SA seeks closer Canadian ties as overhaul of mining sector continues

By: Simon Rees     27th November 2013 The South African government is keen to foster closer ties with Canada’s mining industry and to attract Canadian expertise, two top government officials told audience members at the Canada-Southern Africa Chamber of Business on November 26. The country is also committed to continue improving its... 

SA seeks closer Canadian ties as overhaul of mining sector continues

Mine safety step change needed to attain zero harm goal – Van der Woude 

By: Martin Creamer     19th November 2013 A step change is needed in the safety performance of the South African mining industry if it is to attain its zero harm goal before 2040. In 2003, the South African mining industry agreed to be world class by 2013 by reducing fatalities by 20% a year over ten years. As it turned out, South... 

Mine safety step change needed to attain zero harm goal – Van der Woude
Chamber of Mines of South Africa Safety head Sietse van der Woude tells Mining Weekly Online’s Martin Creamer that at the current rate of progress, mine fatalities will only drop below five a year in 2040, which means a safety step-change is needed. Photographs: Duane Daws. Video: Nicholas Boyd. Editing: Shane Williams.

Solidarity calls on unions to set aside differences, allow economy to grow

By: Martin Creamer     18th November 2013 Trade union Solidarity on Monday called for a temporary setting aside of entrenched union differences to allow the South African economy to grow. “It’s never too late for a timeous solution, because South Africa still has the winning recipe. Our leaders just have to be willing to get to the... 

Anglo American Platinum leading own platinum market development

By: Martin Creamer     14th November 2013 Platinum mining company Anglo American Platinum (Amplats), which will not be renewing its long-standing market development contract with Johnson Matthey at year-end, is replacing general market development funding with project-focused specific funding. Existing contracts attracting discounts and... 

Governments mustn’t change rules midstream – GlencoreXstrata 

By: Martin Creamer     13th November 2013 Mining and bulk commodity trading giant GlencoreXstrata, which listed highly successfully on the Johannesburg Stock Exchange (JSE) on Wednesday, finds it acceptable that the South African government has stated unequivocally that it wants a 20% free-carried interest in oil and gas ventures. “I... 

South Africans snap up shares as GlencoreXstrata debuts on JSE

By: Martin Creamer     13th November 2013 South Africans have taken the opportunity to snap up the shares of global diversified major GlencoreXstrata plc, following its debut on the main board of the Johannesburg Stock Exchange (JSE). On Wednesday, nearly 52-million shares changed hands in more than 8 000 transactions as the... 

Security of supply concerning platinum end-users – Johnson Matthey 

By: Martin Creamer     12th November 2013 Security of platinum supply is concerning platinum end-users, Johnson Matthey GM research Peter Duncan said on Tuesday. Speaking to Mining Weekly Online in a video interview (see attached), Duncan said the lack of capital investment even in the replacement of platinum production capacity in the... 

New 2014 emission legislation set to boost platinum demand  

By: Martin Creamer     12th November 2013 New upcoming vehicle emission standards in Europe and China are poised to boost demand for platinum, Johnson Matthey GM marketing Jeremy Coombes said on Tuesday. In Europe, Euro Six emission standards will be introduced for heavy-duty vehicles and then passenger cars in 2014, when tighter... 

Govt, business, labour report progress towards sustainable mining

By: Martin Creamer     8th November 2013 Government, business and labour on Friday reported more progress towards sustainable South African mining when they met in Pretoria to fulfil the requirements of the framework agreement struck in July. The Framework Agreement for a Sustainable Mining Industry is being led by the Deputy President... 

Franco-Nevada’s Q3 earnings slide on lower prices

By: Henry Lazenby     7th November 2013 Metals streaming firm Franco-Nevada this week reported a 32% slide in third-quarter revenue, lower precious metals prices impacted on its revenue. Net income for the three months ended September 30 totalled $35.3-million, or $0.24 a share, down from $52-million, or $0.36 a share. The company’s... 

Mine migrant labour reform being ‘workshopped’ – Teba

By: Martin Creamer     7th November 2013 A migrant labour reform project, which could see the implementation of a new system of affording migrant mineworkers more time at home with their families, was at an advanced stage of “workshopping”, Teba Limited top brass said on Thursday. Responding to Mining Weekly Online during question time... 

Exciting new AngloGold Ashanti technology produces first gold  

By: Martin Creamer     6th November 2013 The exciting new South African gold-mining technology that has the potential to change the face of South Africa’s struggling precious metals mining business, has produced its first gold. AngloGold Ashanti, South Africa’s biggest gold mining company, which produced this pioneering gold at its Tau... 

Creamer Media publishes Platinum 2013: A review of SA's platinum sector

By: Creamer Media Reporter      6th November 2013 Creamer Media’s Platinum 2013 report examines South Africa’s platinum sector business environment, with particular focus on labour activities, safety stoppages and operation closures in the sector in the past 12 months. It also focuses on the main participants, their operations, projects and... 

Creamer Media publishes Platinum 2013: A review of SA's platinum sector

Mining benefits 8 in 10 South Africans ‘directly, literally’ – Cutifani 

By: Martin Creamer     5th November 2013 Eight out of every ten South Africans benefited “directly and literally” from mining, outgoing Chamber of Mines of South Africa president Mark Cutifani said on Tuesday. Cutifani, who is also Anglo American CEO, told the chamber’s 123rd annual general meeting (AGM) in Johannesburg that the mining... 

Zimbabwe eyed as heir to platinum throne as SA loses grip – SFA Oxford

By: Martin Creamer     31st October 2013 With South Africa’s once mighty grip on the world platinum market slipping, exasperated end-users are eyeing Zimbabwe as the heir to the platinum throne, top global platinum consultant Stephen Forrest said on Thursday. Forrest, in South Africa for the Joburg 2013 Investing in Resources and... 

'If I were a manager today, I would refuse to deduct garnishee orders' – Godsell 

By: Martin Creamer     30th October 2013 Former AngloGold Ashanti CEO Bobby Godsell said on Wednesday that if he were still a manager today, he would refuse to deduct garnishee orders, which he believed played a nefarious role in the build up to the Marikana tragedy. The Business Leadership South Africa chairperson also advocated that... 

Friedland wows City of Gold with his dazzling platinum story 

By: Martin Creamer     29th October 2013 Mining entrepreneur extraordinaire Robert Friedland came to the City of Gold on Tuesday and wowed his audience with a stirring story of the richness of the South African platinum endowment. The geological marketing wizard, whose name is associated with the Voisey’s Bay nickel development in... 

Russia’s Norilsk unveils new strategy, technology

By: Keith Campbell     25th October 2013 Russian mining major MMC Norilsk Nickel (Norilsk) has revealed that it is to sell its Southern African and all its other international assets by the end of 2016. This process, which will start next year, is part of the group’s new strategy, which will see it focus on “Tier 1” assets. The new... 

Research coordinator advocates new mining method for gold, platinum 

By: Martin Creamer     18th October 2013 A new mining method, which avoids the wasteful shattering of precious metal during blasting, has the potential to boost gold and platinum mining significantly, says highly experienced research coordinator Dr RE (Robbie) Robinson. Selected blast mining (SBM), assisted by modern computer... 

Thinning crowd of junior miners provides both opportunity and risk

By: Henry Lazenby     18th October 2013 Investing in minerals-focused junior companies is not for everyone, and is often left to highly sophisticated investors and speculators; however, some investors include juniors in their portfolios for the sake of diversification. While some investors favour precious metals, as they tend to have... 

Ivanhoe Mines intercepts ‘unprecedented’ mineralisation in SA

By: Henry Lazenby     16th October 2013 Africa-focused Ivanhoe Mines on Wednesday reported that it had intersected “unprecedented” mineralisation in an exploration drill hole at its flagship South African Platreef precious-metals project. The company said it had found 4.51 g/t of platinum, palladium, rhodium and gold (4E) over 90.64 m,... 

Friedland talks up platinum, the creation of a ‘Platinum Valley’ in Limpopo

By: Henry Lazenby     11th October 2013 Outspoken financier and mining guru Robert Friedland is poised to make history in South Africa, as he envisions the creation of a ‘Platinum Valley’ in the platinum-rich Limpopo province that would be synonymous to hydrogen fuel cell manufacturing, as California’s Silicon Valley is to technology.... 

Local black mining equipment manufacturer hitting export high-spots 

By: Martin Creamer     9th October 2013 South Africa’s 56% black-controlled Aard Mining Equipment is attracting attention internationally as an exporter of locally designed and manufactured South African equipment into the global underground mining market. Aard, which the wholly black-owned Matasis Investment Holdings and Nedbank... 

Economist calls on South Africa to save pivotal gold-mining industry

By: Martin Creamer     3rd October 2013 Steps must be taken to halt the rapid decline of South Africa’s crucial gold-mining industry, economic strategist Chris Hart urged on Thursday. Hart, who was delivering the keynote address at the Tenova Mining & Minerals Symposium in Johannesburg, warned that if steps were not taken timeously,... 

DRDGold’s Craig Barnes packing for Perth

By: Martin Creamer     1st October 2013 Gold-from-dumps miner DRDGold is losing its executive director and CFO to Australia. Craig Barnes, a 42-year-old father of two, will leave the company and South Africa on January 1 next year. He has served in various capacities in DRDGold’s finance department since 2004.Following a series of... 

Mick Davis and team get going again as well-backed X2

By: Martin Creamer     30th September 2013 Shades of the old Xstrata surfaced on Monday with the emergence of the new X2 Resources, backed by an initial $1-billion investment, under former Xstrata stalwart Mick Davis and his long-standing support executive Trevor Reid. X2 Partners, Noble Group Limited and TPG Capital announced their... 

Ivanhoe Mines to raise C$100m in private placement for DRC projects

By: Henry Lazenby     23rd September 2013 Africa-focused base and precious metals project developer Ivanhoe Mines on Monday announced the terms of a nonbrokered private placement with a group of investors to raise C$100-million, aimed at advancing the company’s Democratic Republic of Congo projects. However, the proposed transaction was... 

South Africa’s raw chrome exports soar as ferrochrome edge is lost 

By: Martin Creamer     20th September 2013 South Africa’s long-standing position as the top global ferrochrome producer is being lost and the export of raw, unbeneficiated chromite ore is on the rise from this country. Heinz Pariser Alloy Metals and Steel market research director Dr Gerhard Pariser, who addressed the MetalBulletin... 

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