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Palladium News

TWP looks to Philippines, Turkey, China sourcing, South Africa ‘too expensive’

By: Martin Creamer     18th January 2011 Mining and minerals project house TWP is looking closely at procuring goods and services from countries that “have a more competitive cost base than South Africa”, including the Philippines, Turkey and China. TWP chairperson Nigel Townshend says that the company within the JSE-listed Basil Read... 

Gold seen averaging $1 457/oz in 2010 – LBMA survey

By: Liezel Hill     8th January 2011 The average gold price this year may be 19% higher than in 2010, according to experts surveyed by the London Bullion Metals Association (LBMA). The average gold price forecast was $1 457/oz, the LBMA said on Friday. 

Scepticism greets Japanese synthetic palladium claim

By: Martin Creamer     5th January 2011 New Year reports of Japanese scientists achieving a synthetic palladium breakthrough have been greeted with scepticism. Researchers at Kyoto University say that the new palladium-like alloy has been created by fusing ultramicroscopic spray particles of rhodium and silver. Although each particle... 

Eastplats closes C$348m financing

By: Liezel Hill     30th December 2010 Eastern Platinum has completed a C$347,6-million equity financing, the firm said on Thursday. Eastplats issued 224,25-million shares, including the exercise of the full over-allotment option in the offering. 

AngloPlat taking govt, Platfields to court over rights dispute

By: Martin Creamer     6th December 2010 Anglo American group platinum miner Anglo Platinum is taking legal action against soon-to-be-listed precious metals junior Platfields as well as the Department of Mineral Resources (DMR) in yet another prospecting rights dispute. Platfields CEO Bongani Mbindwane tells Mining Weekly Online that... 

Stillwater trims output forecast after weather disruptions

By: Liezel Hill     6th December 2010 US platinum-group metals producer Stillwater Mining has lowered its production forecast for this year, after severe winter weather in November forced temporary stoppages at both its mines. The company's Stillwater and East Boulder mines in Montana both halted production for about a day and a... 

Platinum junior to raise R200m in JSE listing

By: Martin Creamer     6th December 2010 Platinum and gold junior Platfields will list on the main board of the JSE on December 14, the JSE confirms. The company is aspiring to raise R200-million for exploration at the listing, which it has been mooting since 2008. Platfields CEO Bongani Mbindwane, who was unavailable for comment at... 

Stillwater completes acquisition of Marathon PGM

By: Liezel Hill     30th November 2010 US palladium-miner Stillwater Mining has closed its acquisition of Canada's Marathon PGM, the company said on Tuesday. Marathon's main asset was its Marathon PGM project in Ontario, for which the company completed a definitive feasibility study in November 2009. The firm has since been working... 

Stillwater slips on news Norilsk will sell shares

By: Liezel Hill     29th November 2010 Shares in Stillwater Mining fell 8,4% on Monday morning, after the company announced that its biggest shareholder, Norilsk Nickel, plans to cut its holding in the US palladium miner . Norilsk subsidiary Norimet will sell 37-million Stillwater shares in a secondary offering, as well as... 

Eastplats falls on share offering

By: Liezel Hill     23rd November 2010 Shares in Eastern Platinum declined 8,6% in Toronto on Tuesday, after the company said it would sell 195-million shares at an 11% discount to the company's share price before trading was halted on Monday afternoon. The company said on Monday it would raise about C$300-million in an equity... 

Platinum may peak at $1 900/oz in next 6 months – Johnson Matthey 

By: Martin Creamer     16th November 2010 The platinum price may peak at $1 900/oz in the next six months, says Johnson Matthey principal analyst Alison Cowley, whose top-of-the range forecast for palladium is $850/oz. 

Platmin says ramp-up continues

By: Liezel Hill     15th November 2010 Platinum-group-metals miner Platmin continues to increase production from its Pilanesberg mine in South Africa, but now expects output this year will be between 60 000 and 65 000 oz, the firm said on Monday. Platmin indicated in August it was expecting production of "up to 80 000 oz" for the... 

Palladium price gains backed by fundamentals – NAP

By: Liezel Hill     11th November 2010 Toronto-based North American Palladium, which is busy with a project to boost output from its Lac des Iles palladium mine in Ontario, believes that there is still room for the best-performing precious metal of 2010 to move even higher, CEO Bill Biggar said on Thursday. Palladium, which is used... 

Aquarius shuts shaft, mulls Zimbabwe listing, ups safety

By: Martin Creamer     26th October 2010 Platinum miner Aquarius is closing the No 1 shaft at its Marikana platinum mine in North West province; it is considering a listing on the Zimbabwe stock exchange for its half-owned Mimosa mine; and it is implementing an advanced technology-backed safety programme to reduce the risk of a repeat... 

Palladium highest in nearly a decade as dollar slumps

By: Reuters     25th October 2010 Palladium hit its highest point in nearly a decade on Monday as the dollar suffered another setback following weekend comments at the G20 meeting, and as investors awaited a speech by Federal Reserve chairman Ben Bernanke. Spot palladium rose nearly 5% to $617,50/oz, its highest point since June... 

Eastplats PGM output up 26% in Q3

By: Liezel Hill     14th October 2010 Platinum-miner Eastern Platinum produced 37 798 oz of platinum-group metals (PGMs) in the third quarter from its Crocodile River mine, in South Africa, a new record for the company and an increase of 26% year-on-year. Output benefited from a 22% increase in the run-of-mine ore hoisted and a 23%... 

Lawyer urges mining companies venturing into Africa 
to strictly adhere to legal requirements

By: Jonathan Faurie     8th October 2010 Companies planning to expand into Africa are being urged to do so with particular emphasis on strict compliance with African legal requirements, reports legal giant Webber Wentzel Attorneys. 

Bauba Platinum to raise R45m for more exploration 

By: Martin Creamer     17th September 2010 New platinum junior Bauba intends raising R45-million in equity capital by the end of this year or in the first quarter of 2011 to allow for additional exploration drilling to take the inferred resource up the value curve and towards a bankable feasibility study. 

Rival bid for Marathon PGM not seen likely

By: Liezel Hill     8th September 2010 US platinum-group metals (PGM) miner Stillwater Mining "conservatively" expects it will take about three years to permit and build the Marathon PGM/copper project in Ontario, CEO Francis McAllister said on Tuesday. Shares in TSX-listed Marathon PGM Corp almost doubled during the trading day,... 

Stillwater Mining agrees to buy Canada's Marathon PGM

By: Liezel Hill     7th September 2010 US platinum-group-metals producer Stillwater Mining has agreed to buy TSX-listed Marathon PGM for about $118-million in cash and shares, the companies announced on Tuesday. Marathon's main asset is its Marathon PGM project in Ontario, for which the company completed a definitive feasibility... 

Platinum Group has deal for project surface rights, in 'active discussions'

By: Liezel Hill     26th August 2010 Platinum Group Metals (PTM), which has said it will make a decision soon on whether to sell or build its South African platinum project, has locked in a right to buy the surface rights for the property, and has also made progress on securing power and water infrastructure for the mine. The firm... 

Cost-effective plants for 
platinum mines

By: Eleanor Seggie     20th August 2010 International engineering company AMEC Minproc is able to design small to medium-sized, fit-for-purpose and cost-effective process plants which are particularly applicable to projects with a limited life of mine and financial capital, says AMEC Minproc technical manager Steve Amos.  

Zimbabwe’s promising platinum future

20th August 2010 Palladium and platinum supplies decreased in Russia and North America, while supplies of the metals climbed in Zimbabwe last year, states platinum refiner and specialist Johnson Matthey’s ‘Platinum 2010’ report. 

NAP unveils palladium expansion details, sees capex at C$204m

By: Liezel Hill     18th August 2010 Toronto-based North American Palladium expects to achieve commercial production from the new Offset zone at its Lac des Iles mine, in Ontario, in the third quarter of 2012, CEO Bill Biggar said on Tuesday. The company has completed a scoping study on the project, and expects pre-commercial... 

SA by-product rights fiasco is a messy business

By: Matthew Hill     6th August 2010 Oh, what a tangled web we weave. Another fiasco has erupted relating to South Africa’s Department of Mineral Resources (DMR), this time involving world number-three platinum producer Lonmin, and it could have other mining companies scrambling to clarify their legal standing on the minerals in... 

Chinese seen as likely suitors for Platinum Group

By: Matthew Hill     5th August 2010 The fact that Canadian junior Platinum Group Metals (PTM) CEO Michael Jones has already started up a new firm indicates that the TSX-listed company could probably be bought, and analysts are tipping Jinchuan and China Africa Development as the most likely buyers. The two Chinese firms made up... 

Lonmin ordered to stop selling by-product metals 

By: Liezel Hill     5th August 2010 LSE-listed platinum-miner Lonmin has been ordered by the South African government to stop selling nickel, copper, chrome and any other minerals other than platinum-group metals (PGMs) mined from its operations in the country, with immediate effect. The firm also revealed that another company,... 

Stillwater profit up on prices, but lowers FY outlook

By: Liezel Hill     28th July 2010 US platinum-group-metals (PGM) miner Stillwater Mining earned $14,6-million in the second quarter, up from $4,6-million in the same period last year, after stronger metals prices more than offset lower production volumes. Revenue rose 42%, to $134,9-million, but the improvements were “almost... 

Marathon to submit PGM/copper project EIS in Q4

By: Liezel Hill     27th July 2010 Toronto-based Marathon PGM plans to submit an environmental-impact statement during the fourth quarter for its namesake platinum-group-metals/copper project in Ontario, the company said on Tuesday. Marathon also continues to look at options to finance the project, including through an offtake... 

SA union delays strike at Impala Platinum

By: Reuters     27th July 2010 The National Union of Mineworkers (NUM) said on Tuesday that a strike at Impala Platinum planned for Monday will be delayed to allow further negotiations between management and the union. NUM spokesman Lesiba Seshoka said Impala Platinum (Implats), the world's second-largest producer of the... 

Platinum Group continues to mull options

By: Liezel Hill     16th July 2010 Vancouver-based Platinum Group Metals (PTM) is still assessing its “strategic alternatives”, to decide how best to get value out of its platinum-group metals (PGM) projects in South Africa, the firm said on Thursday. Not much has changed since the last update three months ago: the options still... 

Stillwater has no details on possible Norilsk stake sale

By: Liezel Hill     15th July 2010 US platinum-group-metals producer Stillwater Mining has met with representatives of majority shareholder Norilsk Nickel, to discuss the Russian firm's plans for its shares in the company, Stillwater said late on Wednesday. Norilsk, the top producer of nickel and palladium in the world, said... 

Marathon making progress on finance, offtake for Ontario PGM mine

By: Liezel Hill     10th June 2010 Senior executives from TSX-listed Marathon PGM Corp met recently with parties in China interested in financing the company's namesake platinum-group metals project in Ontario, Canada, the junior reported on Thursday. The company has also had “serious” expressions of interest from at least three... 

Precious metals prices set to fall as sovereign debt issues loom large – Natixis 

By: Jonathan Faurie     28th May 2010 Global market analyst group Natixis Commodity Markets warns that the strong run in precious metal prices may be coming to a end much sooner than miners and investors would have hoped.  

NA Palladium scopes Offset zone at LDI

By: Liezel Hill     21st May 2010 Precious-metals producer North American Palladium is working on a scoping study to develop the new Offset zone at its Lac des Iles palladium mine, in northern Ontario, and expects to complete the study in the third quarter of this year. The company restarted the LDI mine in April, after... 

Asian demand kept platinum industry afloat in 2009 

By: Jonathan Faurie     7th May 2010 In year that has taken its toll on the platinum market, significant jewellery demand from China and Japan has kept the platinum industry afloat amid significant fears of a market crash. 

Platinum to remain in surplus this year – GFMS

By: Chanel de Bruyn     22nd April 2010 Precious metals consultancy GFMS expected demand for platinum to rise by 5% this year, while global mine production was also expected to recover, leaving the gross surplus at “historically high” levels. The consultancy noted in its ‘Platinum and Palladium Survey 2010’, released on Thursday, that... 

NA Palladium buys Quebec gold deposit from Agnico, to raise C$75m

By: Liezel Hill     21st April 2010 Toronto-based North American Palladium has agreed to buy the Vezza gold project in Quebec's Abitibi region from Agnico-Eagle Mines for C$10-million, the company said on Tuesday. The price includes C$3,5-million in cash and C$6,5-million in shares.  

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