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Palladium News

Norilsk appoints former De Beers CEO as chairperson

By: Creamer Media Reporter      11th March 2013 Shareholders of Russian nickel and palladium producer Norilsk Nickel on Monday approved the appointment of former De Beers CEO Gareth Penny as chairperson. Norilsk Nickel shareholders on Monday voted in favour of the early termination of powers of the company’s board of directors and the election... 

It’s business unusual at ‘improving’ Lonmin – Munroe

By: Martin Creamer     5th March 2013 Improvements are under way at Lonmin, the London- and Johannesburg-listed platinum company that was at the epicentre of last-year’s 44-death Marikana tragedy. “It’s business unusual,” according to Lonmin executive VP mining Mark Munroe. 

SA Deputy Minerals Minister defends MPRDA revision at PDAC

By: Henry Lazenby     5th March 2013 South Africa’s Deputy Minister for Mineral Resources Godfrey Oliphant has defended the current review of the Mineral and Petroleum Resources Development Act (MPRDA), saying it did not affect investor confidence in the country’s mining industry, owing to not being policy yet. The Deputy Minister... 

Migration to global exchanges has hurt SA’s own exchange – Mantashe 

By: Martin Creamer     1st March 2013 Allowing South African companies to migrate to global stock exchanges has impacted negatively on South Africa’s own exchange, African National Congress (ANC) secretary-general Gwede Mantashe contends. In a guest column in the latest edition of Mining Weekly, Mantashe also criticises what he... 

‘Ring of Fire’-focused Noront negotiates $15m loan facility

By: Henry Lazenby     28th February 2013 Polymetallic project developer Noront Resources has entered into a $15-million loan with Resource Capital Funds (RCF) to further develop the company's flagship advanced-stage Eagle's Nest nickel/copper/platinum/palladium project, in the far north of Ontario. The company on Tuesday said the... 

‘Promising’ copper growth in offing – ARM 

By: Martin Creamer     27th February 2013 Exploration drilling is showing high mineralisation down-dip of African Rainbow Minerals’ (ARM’s) newly commissioned copper project in Zambia. “The mineralisation is nearly double that of the existing project,” ARM CEO Mike Schmidt tells Mining Weekly Online in a video interview (see attached). 

'Prohibitive' power cost hobbling smelters – ARM 

By: Martin Creamer     27th February 2013 The “prohibitive” increasing cost of South African electricity in the powering of smelters remains a major concern, says African Rainbow Minerals (ARM) CEO Mike Schmidt. Responding to questions following ARM’s reporting of 30%-lower earnings in the six months to December 31, Schmidt said that... 

Unaffordable pay will destroy industry’s future – Motsepe 

By: Martin Creamer     27th February 2013 The paying of unaffordable wages and salaries will destroy the future of the South African mining industry, African Rainbow Minerals (ARM) executive chairperson Patrice Motsepe has reiterated. Responding to Mining Weekly Online following ARM’s reporting of 30%-lower earnings in the six months to... 

SA must instil new confidence in global investors – Motsepe  

By: Martin Creamer     26th February 2013 South Africa would benefit greatly if it succeeded in instilling new confidence in the global investment community, African Rainbow Minerals (ARM) executive chairperson Patrice Motsepe said on Tuesday. Answering questions after the JSE-listed ARM presented a 30% fall in headline earnings to... 

African Rainbow Minerals half-year earnings down 30%

By: Martin Creamer     26th February 2013 The headline earnings of the South African diversified mining company African Rainbow Minerals (ARM) fell 30% in the six months to December 31. The earnings of R1.41-billion for the second half of 2012 compared with R2-billion in the first half of 2012.  

Mining unrest putting South Africa’s pension funds at risk – Minister 

By: Martin Creamer     21st February 2013 South Africa’s ongoing mining-industry unrest was putting the country’s pension funds at risk and it was critical that peace and stability be restored in the mining sector, Minerals Minister Susan Shabangu said on Thursday. Taking a lead role in a live Tsepiso Makwetla-anchored national radio... 

Conflicting mine union presidents agree to meet after live-on-air exchange

By: Martin Creamer     19th February 2013 In a live-on-air commitment, the presidents of South Africa’s two conflicting mine labour unions have agreed to meet for the first time in order to prevent a repeat of the latest outbreak of inter-union violence in which 12 people were injured. Radio 702 morning talk show host John Robbie... 

Time benefit possible in ‘constructive’ Govt/Anglo talks

By: Martin Creamer     15th February 2013 With two legal processes taking place in parallel, there might be a time advantage in Anglo American Platinum’s (Amplats’) current in-depth, ongoing consultation process with government and labour, Amplats CEO Chris Griffith said on Friday. Answering analysts' questions on fears that the... 

Anglo operating profit falls 44%, dividend up 15%

By: Martin Creamer     15th February 2013 The underlying operating profit of the LSE- and JSE-listed Anglo American decreased 44% to $6.2-billion in the year to December 31, with financial results driven down by lower commodity prices in weak global economic conditions, the company said. Anglo reported impairments totalling $4.6-billion... 

Russian group’s African operations show significant production increases

By: Keith Campbell     15th February 2013 Russian major mining group MMC Norilsk Nickel’s (Norilsk’s) African operations delivered significant increases in output last year, helping boost the company’s global nickel production by 2% in comparison to 2011. The group is the world’s largest producer of nickel and palladium, and its Africa... 

Ivanplats to mine platinum, manufacture in Bushveld 

By: Martin Creamer     6th February 2013 Beneficiation would be the key driver of Ivanplats' proposed new platinum mine in South Africa where platinum-product manufacturing would take place together with mining, Ivanhoe chairperson Robert Friedland said on Wednesday. Ivanplats, which listed in Canada eight months ago, is considering a... 

South African mining needs new clustering model – Ramphele  

By: Martin Creamer     6th February 2013 The South African mining industry needed a fresh, new model that simultaneously boosted agriculture and industry and put an end to the currency-strengthening Dutch Disease that inhibited exports and stunted growth, Gold Fields chairperson Dr Mamphela Ramphele said on Wednesday. Ramphele told the... 

Mining sustains quarter of South Africa’s people – Anglo American

By: Martin Creamer     5th February 2013 A total of 13.5-million people were dependent on mining-generated jobs in South Africa – some 25% of the population – and the money the mining industry spent overwhelmingly benefited the country, outgoing Anglo American CEO Cynthia Carroll said on Tuesday. Carroll told the Investing in African... 

Autocatalyst demand for palladium to reach record level

By: Samantha Herbst     1st February 2013 Platinum researcher Johnson Matthey has forecast that palladium demand will benefit from growth in global vehicle production, with strong performance expected in Japan and the US (principally gasoline markets) and that the substitution of platinum in diesel aftertreatment formulations will... 

Aquarius Platinum mine production up 2%

By: Martin Creamer     29th January 2013 Attributable production from the operating mines of JSE-listed Aquarius Platinum increased by 2% quarter-on-quarter to 78 987oz in the three months to December 31, when the transition to owner operator was completed below budget under new CEO Jean Nel. Liberum Capital analyst Ben Davis described... 

Haemorrhage risk continues as Amplats heads for R6bn loss

By: Martin Creamer     29th January 2013 As it postpones remedial action to April 30, the government-constrained and African National Congress- (ANC)-criticised Anglo American Platinum (Amplats) risks mounting losses at its already haemorrhaging mines, while, at the same time, its controlling shareholder, Anglo American, suffers yet... 

ANC MP blames SA’s current mining malaise on ‘enclave’ mentality 

By: Martin Creamer     24th January 2013 The current turbulence in the South African mining industry has its roots in the mining industry’s “enclave” mentality, which refuses to link mineral extraction to competitive fabrication, says African National Congress (ANC) Member of Parliament (MP), Professor Ben Turok. The outspoken MP, who... 

Ramaphosa begins his journey out of business into politics 

By: Martin Creamer     23rd January 2013 Newly elected African National Congress (ANC) deputy president Cyril Ramaphosa has begun to withdraw from his business commitments in order to remove all potential conflicts of interest as he enters deeper into the South African political arena. Ramaphosa committed himself to clearing his... 

Engage to end govt, labour, company trust deficit – ex Anglo South Africa head

By: Martin Creamer     22nd January 2013 The controversy surrounding the Anglo American Platinum (Amplats) platinum review emphasised the need for more engagement and trust-building between government, labour and mining companies, former Anglo American South Africa head Kuseni Dlamini said on national radio on Tuesday. Speaking during... 

Law provides for Amplats to apply for cuts during downturns

By: Martin Creamer     21st January 2013 A mining right holder is entitled to apply for the amendment of the mining work programme (MWP) when there are downturns in the price of a mineral mined or other factors which make mining in a particular way or at a particular rate less feasible, says Bowman Gilfillan director Claire Tucker.... 

$650m Chinese loan for Wesizwe’s Bakubung platinum mine project 

By: Martin Creamer     21st January 2013 The China Development Bank (CDB) had approved a $650-million loan for the development of the Bakubung platinum mine project in South Africa's North West province, the Chinese-controlled JSE-listed Wesizwe Platinum confirmed on Monday. “This is good news for Wesizwe and sends a positive signal to... 

Labour law, JSE regulations narrowed consultation with govt – Amplats  

By: Martin Creamer     17th January 2013 Labour law and the regulations of the Johannesburg Stock Exchange (JSE) prevented Anglo American Platinum (Amplats) from making full disclosure to government of the details of its now-controversial platinum review plan ahead of the formal public announcement. Amplats did consult with the... 

Quadrupled recycled platinum supply hobbling mining – Amplats 

By: Martin Creamer     16th January 2013 A significant increase in the supply of platinum from recycling, a strong fall in demand for autocatalysts and price-elastic Chinese jewellery demand are combining to hobble the platinum mining industry. Anglo American Platinum (Amplats) CEO Chris Griffith tells Mining Weekly Online in the... 

Amplats offers new non-mining job for every mining job lost  

By: Martin Creamer     15th January 2013 Anglo American Platinum (Amplats), which is setting out to create at least one new non-mining job for every mining job lost in its proposed downsizing, saw its own share price and the global platinum price rise after announcing the most far-reaching restructuring of its 58-year history, which... 

New Anglo American CEO aims to create world’s best mining company

By: Martin Creamer     8th January 2013 Creating the world’s best mining company is the aim of Mark Cutifani, who takes over the reins of Anglo American as CEO from April 3. Speaking from London in an international conference call that South African journalists could only enter late as a result of a technical glitch, Cutifani said... 

Master Drilling share price rises sharply on debut

By: Martin Creamer     20th December 2012 The share price of Master Drilling, which is described as the world’s largest raisedrilling company "by far”, rose 17% after the Fochville-headquartered company was listed on the Johannesburg Stock Exchange (JSE) on Thursday. The share price increased from its opening level of R7.85 a share to... 

Impala Platinum to build 4 500 houses for employees – CEO

By: Martin Creamer     18th December 2012 Platinum mining company Impala Platinum (Implats) plans to build 4 500 additional houses for its employees in South Africa and Zimbabwe. In the last of a five-day Chamber of Mines mass-media print campaign on how the beleaguered mining industry can be positively restructured, Implats CEO Terence... 

Chamber of Mines embarks on mass-media charm offensive

By: Martin Creamer     10th December 2012 The Chamber of Mines (CoM) of South Africa has embarked on a five-day mass-media charm offensive to convince civil society that the multitrillion-rand South African mining sector is worth fighting for. CoM CE Bheki Sibiya conceded in the first of what will be double-page broadsheet advertorials... 

New R200m platinum, iron-ore, vanadium explorer lists on JSE 

By: Martin Creamer     23rd November 2012 A new platinum, iron-ore and vanadium exploration company has listed on the Johannesburg Stock Exchange. The R200-million-market-valued Sable Platinum, headed by CEO James Allan, has reverse listed into the JSE’s New Corpcapital (JSE: NCA) cash shell and has begun trading on the platinum and... 

Post-Marikana South Africa mineral-rich but mining-poor – Leon Louw 

By: Martin Creamer     22nd November 2012 South Africa had been reduced to a minerals-rich, but mining-poor country, which fantasied about minerals beneficiation for which there was no special business case, Free Market Foundation executive director Leon Louw has told a post-Marikana mining discussion. Louw – who was part of a panel at... 

Eastplats swings to Q3 loss on lower production, sales

By: Henry Lazenby     14th November 2012 TSX-, Aim- and JSE-listed Eastern Platinum (Eastplats) swung to a third-quarter loss as a result of lower production and fewer ounces sold, at lower prices. The Vancouver-based company, which is focused on mining platinum-group metals (PGMs) in South Africa’s Bushveld Igneous Complex (BIC),... 

SA’s platinum supply to hit 11-year low in 2012 

By: Idéle Esterhuizen     13th November 2012 Platinum supply from the world’s largest producer of the metal, South Africa, is expected to fall to its lowest level in more than a decade, dropping by 12% to 4.25-million ounces in 2012, the latest Johnson Matthey platinum report has revealed. In its ‘Platinum 2012 Interim Review’, Johnson... 

Russian group’s African operations deliver further output increases

By: Keith Campbell     9th November 2012 The African operations of Russian mining major MMC Norilsk Nickel (Norilsk) continued to increase their nickel output during the third quarter of this year, the group revealed in its recent preliminary production report for the third quarter and for the first nine months of this year. Copper,... 

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