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Palladium News

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,... 

Ivanplats closes C$300m IPO, shares listed on TSX

By: Henry Lazenby     23rd October 2012 Africa-focused Ivanplats on Tuesday successfully closed its C$300-million initial public offering (IPO) and the company’s shares started trading on the TSX main board. Ivanplats, which has projects in the Democratic Republic of Congo (DRC) and South Africa, said it had issued total equity to the... 

Ivanplats files final prospectus for IPO

By: Henry Lazenby     17th October 2012 Ivanplats executive chairperson Robert Friedland and president and CEO Lars-Eric Johansson announced late on Tuesday Ivanplats had filed a final prospectus in Canada for its initial public offering (IPO) of Class A common shares to raise about C$300-million ($307-million). Under the IPO,... 

South African labour system must be reviewed – Solidarity

By: Martin Creamer     9th October 2012 The South African labour relations system is again at a crossroads, similar to that of the 1980s when the Wiehahn report led to the founding of the Congress of South African Trade Unions (Cosatu), Solidarity leaders Flip Buys and Gideon du Plessis say in an article published in Beeld. “The... 

Migrant labour system lies at heart of mine unrest – Hartford 

By: Martin Creamer     8th October 2012 The migrant labour system, which has remained largely unaltered in the post-apartheid period, lies at the heart of the South African mining industry’s current economic and social crisis, says The Esop Shop CEO Gavin Hartford in an 11-page paper. The industrial sociologist advocates a radical... 

Beleaguered platinum industry launches new dispensation bid  

By: Martin Creamer     5th October 2012 The co-crafting of a new dispensation for the beleaguered platinum sector is under way nder professional facilitation. The sector has met over several days to launch a framework to return the industry to stability and set it back on a course of sustainability. Labour Minister Mildred Oliphant... 

PTM expands Waterberg discovery beyond known resource

By: Henry Lazenby     4th October 2012 Vancouver-based Platinum Group Metals (PTM) has expanded the discovery area of layered mineralisation beyond the declared inferred resource estimate of 6.6-million ounces for the new Waterberg discovery, located north of the known northern limb of South Africa’s Bushveld Igneous Complex (BIC).... 

Platinum expected to bounce back in 2013, metals stocks in surplus

By: Henry Lazenby     3rd October 2012 Platinum and palladium were expected to regain some of its lustre in 2013 as rising production costs in South Africa, which produces about 70% of the global supply of platinum, looked set to push prices higher, French bank Natixis said in its latest quarterly metals review. The ongoing labour... 

Pilot plants on way for platinum, titanium value-add – Science Minister 

By: Martin Creamer     25th September 2012 Pilot plants are on the way for both platinum and titanium beneficiation, Science and Technology Minister Naledi Pandor has revealed.  

Local authorities part of Marikana problem – Jay Naidoo

By: Martin Creamer     21st September 2012 Local authorities formed part of the Marikana problem, founding Confederation of South African Trade Unions (Cosatu) general secretary Jay Naidoo said on Friday. The former Cosatu leader, who took part in the Human Science Research Council’s (HSRC’s) ‘Facing Marikana’ debate, advocated that a... 

Marikana deal adds 14% to Lonmin’s wage bill

By: Natasha Odendaal     21st September 2012 Embattled platinum producer Lonmin reported that over 80% of employees reported for duty at its Marikana mine, in Rustenburg, on Thursday, after receiving wage increases reaching 22%. The amended wage agreement, which was signed on Tuesday, added 14% to the company’s wage bill, the JSE-listed... 

Mining industry poised for step-change – Ramaphosa 

By: Martin Creamer     20th September 2012 The South African mining industry was poised for significant positive improvement, Shanduka chairperson Cyril Ramaphosa said on Thursday. “I think we are going to see a step change in the mining industry, a step change that we have been calling for,” the iconic former labour leader told the... 

Wake up, South Africa, platinum industry's 'bleeding to death' - Phiri

By: Martin Creamer     19th September 2012 South Africa needed to wake up and behold and stop killing itself, Royal Bafokeng Platinum (RBPlat) CEO Steve Phiri pleaded on Wednesday. “The platinum industry is seriously bleeding to death, yet we still hear and see people talking and acting irresponsibly,” Phiri said in delivering a... 

Platinum communities must tell us, not us them – Griffith 

By: Martin Creamer     18th September 2012 The expectations of near-mine communities needed to be better understood to minimise operational disruptions and the fragmented platinum industry and government needed to collaborate across a broad front to achieve platinum’s full potential, new Anglo American Platinum CEO Chris Griffith said on... 

South Africa suffers R4.5bn work-stoppage loss – Zuma 

By: Martin Creamer     17th September 2012 Work stoppages on platinum and gold mines had caused a loss of production of R4.5-billion in the last nine months, President Jacob Zuma said on Monday. Addressing the national conference of the Confederation of South African Trade Unions, Zuma said that work stoppages in the coal sector added... 

Black South African excellence rolling out amid sea of platinum turmoil 

By: Martin Creamer     17th September 2012 The technical excellence of upcoming black South Africans is being laudably implemented amid a sea of turmoil in South Africa’s wildcat strike ravaged Rustenburg platinum belt. The beacon of hope within the area where 45 people have died in violent confrontation is the promising platinum project... 

RBPlat declares zero tolerance on violence, intimidation

By: Martin Creamer     14th September 2012 South Africa’s only black-owned, black-managed and black-operated mining company, the JSE-listed Royal Bafokeng Platinum (RBPlat), has declared zero tolerance on the violence and intimidation that is sweeping though Rustenburg’s platinum belt. ““We’re not going to tolerate any violence, any... 

AMCU-dominant Two Rivers is lowest-cost platinum producer – Mike Schmidt 

By: Martin Creamer     4th September 2012 Two Rivers platinum, where the emerging Association of Mineworkers and Construction Union (AMCU) has been the majority labour union for the past 18 months, is the best-cost producer on the eastern limb of the Bushveld Complex, with excellent output, Mike Schmidt, CEO of the black-controlled... 

Line has to be drawn on union demands – Motsepe  

By: Martin Creamer     3rd September 2012 Employers had to set a limit on unreasonable pay demands by labour unions, African Rainbow Minerals (ARM) executive chairperson Patrice Motsepe said on Monday. “We have to draw the line,” Motsepe reiterated in response to Mining Weekly Online during question time, after the JSE-listed... 

ARM squeezes out 2% earnings rise as nickel, chrome take battering

By: Martin Creamer     3rd September 2012 JSE-listed black-controlled diversified mining company African Rainbow Minerals (ARM) squeezed out a 2% increase in headline earnings after being battered by falling nickel, chrome and platinum prices. The contribution to headline earnings by nickel and chrome plummeted 179% and platinum-group... 

Roiled platinum industry mulling centralised bargaining model

By: Martin Creamer     27th August 2012 South Africa’s labour-ravaged platinum sector, which is taking steps to rid itself of legacy issues, is considering the adoption of centralised bargaining arrangements. The Chamber of Mines of South Africa facilitates a centralised bargaining process and conducts the wage negotiations for South... 

Chamber praises President Zuma’s lead, corrects wage misinformation 

By: Martin Creamer     22nd August 2012 The South African mining industry was the payer of the highest wages in South Africa’s labour-intensive sector and its rock drill operators did not earn the widely publicised R4 000 a month, but between R10 000 and R12 000 a month, Chamber of Mines of South Africa VP Mark Cutifani said on... 

RBPlat calls for commission of enquiry to be broader than Lonmin 

By: Martin Creamer     21st August 2012 Royal Bafokeng Platinum (RBPlat) CEO Steve Phiri has called for the judicial commission of enquiry into the Lonmin killings to have the broadest possible terms of reference. In a video interview with Mining Weekly Online, Phiri says that resorting to violence to address complaints is becoming a... 

RBPlat to cut labour, introduce lower-cost mechanisation at Styldrift  

By: Martin Creamer     20th August 2012 Black-owned JSE-listed Royal Bafokeng Platinum (RBPlat), which was hit by a double whammy of lower metal prices and operational snags in the “terrible” six months to June 30, is taking steps to cut labour numbers and mechanise its Styldrift project. “We have initiated mine-wide labour review in... 

Lonmin killings symbolise crisis – ANC NEC member   

By: Martin Creamer     20th August 2012 The killings at the Marikana mine of Lonmin Platinum symbolise that South Africa may be reaching points of crisis that need to be nipped in the bud, says African National Congress National Executive Committee member Joel Netshitenzhe. Last week’s violent illegal strike and police shootout at the... 

Russian group’s Southern African operations register significant production rises

By: Keith Campbell     17th August 2012 Russia’s largest diversified mining and metals company, MMC Norilsk Nickel (Norilsk), has announced significant nickel production increases in its Southern African operations during the second quarter of this year. The group owns 85% of Tati Nickel in Botswana (the other 15% is held by the... 

Stimulating mining investment urgent – National Development Plan 

By: Martin Creamer     15th August 2012 The stimulation of mining investment in South Africa is needed urgently, the National Development Plan 2030 states. The plan, released by National Planning Minister Trevor Manuel, finds that South Africa's substantial unrealised opportunity and global market dominance in mineral deposits offers... 

Stillwater Mining’s Q2 profit, revenue sags on lower prices

By: Henry Lazenby     8th August 2012 Montana-based platinum-group metals (PGMs) producer Stillwater Mining on Wednesday said its year-on-year second-quarter profit slumped by more than half to $18.2-million or 15c a share, reflecting lower PGM prices and higher operating costs. During the June quarter, the company’s revenue... 

$80-trillion urban boost for mining projected – Anglo

By: Martin Creamer     30th July 2012 Projections to 2025 point to cities around the world constructing the equivalent of the entire land area of Austria – 80 000 km2 – in residential and commercial floor space, which would require $80-trillion worth of investment. Moreover, Anglo American CEO Cynthia Carroll said at the... 

Anglo cuts $1.5bn capex, promises $200m platinum cut by year-end

By: Martin Creamer     27th July 2012 Anglo American would deliver a cut of nearly $200-million out of the capital expenditure (capex) programme of Anglo American Platinum (Amplats) by year-end and lop $1.5-billion off 2012 group capex, Anglo CEO Cynthia Carroll said on Friday. The downward revision of the previously guided capex... 

Market sees Lonmin capex cut as price-positive for platinum

By: Martin Creamer     26th July 2012 The Lonmin share price rose after the world’s third-biggest platinum miner slashed its capital expenditure (capex) programme in what the market saw as a price-positive discipline that would help to stem the tide of surplus metal streaming on to the market. After Lonmin announced that it would no... 

Mining industry reality will sink Sims – Spicer

By: Martin Creamer     25th July 2012 Reality would get in the way of the implementation of most of the proposals for the South African mining industry made in the State Intervention in the Minerals Sector (Sims) document, Business Leadership South Africa VP Michael Spicer said on Wednesday. Spicer told the National Policy At The... 

Amplats’ Nqwababa rejects platinum exchange, backs consolidation  

By: Martin Creamer     24th July 2012 Struggling platinum major Anglo American Platinum (Amplats), which is reeling from a R264-million “bloodbath” loss for the first six months of 2012, is against the formation of a potash-type single-channel marketing organisation to stabilise falling prices. Instead, acting Amplats CEO Bongani... 

Amplats headlong into market development, overhead stripping  

By: Martin Creamer     23rd July 2012 Struggling Anglo American Platinum (Amplats) is going headlong into market development, geographic demand diversification and overhead cost cutting as it reels from a R264-million "bloodbath" loss in the first six months of 2012. “It’s all about market development and looking at better... 

Widespread Anglo reshuffle as Amplats CEO Nicolau quits

By: Martin Creamer     19th July 2012 Diversified miner Anglo American announced a widespread range of sudden executive management changes across its South Africa businesses late on Thursday, the biggest of which saw Anglo Platinum (Amplats) CEO Neville Nicolau quit and Kumba Iron Ore CEO Chris Griffith take his place. Also... 

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