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Palladium News
Metallurgic tests at PTM’s Waterberg discovery ‘exceeding’ expectations
By: Henry Lazenby 15th May 2013 NYSE- and TSX-listed Platinum Group Metals (PTM) on Wednesday said initial test results from metallurgical samples of the T2 and F zones from the Waterberg platinum deposit was meeting or exceeding expectations. PTM said estimated recoveries for platinum, palladium and gold in scoping flotation... →
Ivanplats significantly adds to African projects’ resources
By: Henry Lazenby 15th May 2013 Africa-focused project developer Ivanplats on Wednesday said it had significantly increased the resources at two of its largest African projects and added that it was moving to finalise its mining-right application at the South African Platreef project this quarter. Toronto-based Ivanplats, the... →
Eastplats reports quarterly loss as production winds down
By: Henry Lazenby 15th May 2013 South Africa-focused platinum miner Eastern Platinum (Eastplats) reported another first-quarter net loss as platinum group metals (PGMs) output fell by more than half, owing to the company winding down operations in an effort to weather the negative platinum-sector outlook. Vancouver-based... →
Atlatsa narrows Q1 loss as production normalises
By: Henry Lazenby 14th May 2013 Triple-listed platinum group metals (PGMs) miner Atlatsa Resources has narrowed its 2013 first-quarter net loss to C$4.6-million, an 88.8% improvement on the C$41.27-million loss recorded in the first quarter of 2012. This was mainly as a result of improved grades, production and an improved... →
Platinum market records 375 000 oz deficit in 2012
By: Idéle Esterhuizen 13th May 2013 The global platinum market experienced a deficit of 375 000 oz in 2012, owing to a steep decline in output from South Africa, platinum group metals authority Johnson Matthey’s ‘Platinum 2013’ report has revealed. Published on Monday, the report found that primary platinum supply fell by 13% to... →
Mining doomed if ‘crazy’ pay increases continue – Nick Holland 
By: Martin Creamer 10th May 2013 South Africa’s mining industry was doomed if ‘crazy’ wage increases continued to be paid and productivity declined, Gold Fields CEO Nick Holland said at the weekend. Speaking at a media roundtable coinciding with the release of the company’s first-quarter results, Holland said productivity... →
North American Palladium more than triples Q1 loss, plans financing
By: Henry Lazenby 7th May 2013 Toronto-based North American Palladium (NAP) this week reported its first-quarter loss more than tripled on significantly higher expenses. NAP on Monday said its comprehensive loss for the quarter ended March 31, was $2.8-million or $0.02 a share, which was 206% wider than the loss of $928 000... →
Individual risk-taking cause of most mine deaths – Carolus
By: Martin Creamer 6th May 2013 Most mine injuries and deaths are the result of individual risk-taking behaviour, says Gold Fields nonexecutive chairperson Cheryl Carolus. Carolus, who has been a member of the Gold Fields’ safety and health committee since 2009, spoke to Mining Weekly Online in a wide-ranging interview, in... →
Supply side factors to continue impacting platinum price
By: Idéle Esterhuizen 3rd May 2013 The price of platinum this year would, in large part, continue to be determined by supply side factors, Thomson Reuters GFMS mining research director William Tankard said on Friday. Discussing the firm’s latest Platinum & Palladium Survey, he noted that further labour unrest was likely, as South... →
Miserable year for miners, bankers – Liberum
By: Martin Creamer 3rd May 2013 In what had been a miserable year for miners and bankers, the UK mining-investment sector had lost a quarter-plus of its value, and was £100-billion down on last year, Liberum Capital mining head Michael Rawlinson said at the weekend. Equity issuance had been terrible, initial public offering... →
Shanduka halves exposure to mining, grows infrastructure activity
By: Martin Creamer 23rd April 2013 Shanduka, one of South Africa’s leading black-owned and black-managed holding companies, has halved its exposure to mining, CEO Phuti Mahanyele said on Monday. Speaking to Mining Weekly Online in an exclusive interview, the 42-year-old head of the R8-billion company – which is chaired by founder... →
Mining community sought to serve as industry model
By: Martin Creamer 22nd April 2013 A champion community to serve as a developmental model for the rest of the mining industry is being sought by a leading member of the Southern African Institute of Mining and Metallurgy (SAIMM). Veteran SAIMM member Robbie Robinson, in a leading commentary in the SAIMM journal, puts forward the... →
Long-term thinking critical – Anglo American
By: Martin Creamer 19th April 2013 Long-term thinking helped to generate wealth, mitigate environmental harm, combat poverty and promote development in near-mine communities, Anglo American chairperson Sir John Parker said on Friday. The company’s 2012 sustainable development report, launched at its annual general meeting in... →
SA studies creation of new platinum-focused industrial hub
By: Terence Creamer 17th April 2013 A public-private partnership (PPP) has been established to pursue the establishment of a special economic zone (SEZ) aimed at attracting investments that seek to add value to South Africa’s platinum-group metals (PGM) resources ahead of export. Known as the Platinum Valley Hub, the SEZ is one of... →
Looming China/Africa head-on collision – Solomon
By: Martin Creamer 17th April 2013 An economic head-on collision was looming between Chinese business imperatives and Africa’s aspirations to derive more benefit from their continent’s minerals, J&J Group executive director Michael Solomon warned on Wednesday. Speaking at the Frontier Advisory China-Africa Business Summit,... →
SA mining output up 7% y/y in February, reflecting low 2012 base
By: Idéle Esterhuizen 11th April 2013 Mining production in South Africa increased in February, growing 7% year-on-year, following the downwardly revised 6.7% growth in January, Statistics South Africa’s (Stats SA’s) preliminary ‘Mining: Production and Sales’ report has shown. The highest positive growth rate of 66% in February was... →
Greater degree of certainty emerging in SA mining – CoM
By: Martin Creamer 25th March 2013 A greater degree of certainty was emerging in the South African mining industry, Chamber of Mines (CoM) senior executive Roger Baxter said on Monday. Talking to mining analysts and the media at a Harmony Gold-sponsored background briefing, Baxter said a “high road” was very possible for South... →
South Africa requires ‘tender loving care’, says incoming Anglo American CEO
By: Martin Creamer 18th March 2013 South Africa requires “tender loving care”, a proper recognition of its history and an acknowledgement of its importance, says Anglo American CEO-designate Mark Cutifani. Cutifani, who has mined on six continents in 25 countries and in 20 commodities, was speaking at a South African Chamber of... →
Anglo's a South African company, Minister reminds new CEO
By: Martin Creamer 15th March 2013 “Mark, this Anglo American plc, it’s ours. It’s a South African company,” Minerals Minister Susan Shabangu reminded incoming Anglo American CEO Mark Cutifani at a Chamber of Mines of South Africa function in his honour. “We hope you’ll make sure that it remains South African,” the Minister added. →
Bauba Platinum focusing on better northern cluster – CEO
By: Martin Creamer 14th March 2013 The exploration programme on the JSE-listed Bauba Platinum’s Bushveld Complex prospects had progressed well in the northern cluster after poorer-than-expected results in the central cluster, Bauba Platinum CEO Syd Caddy said on Thursday. Bauba, formerly Absolute Holdings, drilled 4 570 m in the... →
‘Rubik's cube’ of development outcomes to be solved mutually – Clement
By: Henry Lazenby 12th March 2013 The Minister of the Canadian government’s economic development organisation for Northern Ontario (FedNor) Tony Clement was on Monday promoting the federal government’s commitment to bring together all role-players from the private and public sectors, including the First Nations, to map the way... →
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... →
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