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Platinum Group Metals News

Palladium boom gives South African miners only temporary reprieve

By: Reuters     17th May 2019 A surge in palladium prices has thrown struggling South African mining companies a lifeline. But it may not be enough. Besides patchy power supplies and high labour costs, South African miners are saddled with ore that typically produces twice as much platinum as palladium - just at a time a... 

Amplats considers sale of Twickenham and Bokoni mines – CEO

By: Reuters     17th May 2019 Anglo American Platinum (Amplats) is contemplating the sale of its Bokoni and Twickenham mines in South Africa, a move which would mostly complete the group's divestment strategy, its chief executive told Reuters. The precious metals producer has sold many of its mines as it pivots from the... 

Sibanye, Lonmin merger enters final stretch as AMCU appeal is dismissed 

By: Marleny Arnoldi     17th May 2019 The Competition Appeal Court of South Africa (CACSA) on Friday gave the green light for JSE- and NYSE-listed Sibanye-Stillwater’s proposed takeover of LSE- and JSE-listed Lonmin, dismissing an appeal filed by the Association of Mineworkers and Construction Union. CACSA upheld the Competition... 

Sibanye, Lonmin merger enters final stretch as AMCU appeal is dismissed
Photo by Creamer Media
Sibanye CEO Neal Froneman and Lonmin CEO Ben Magara

Sibanye wins final go-ahead for Lonmin deal

By: Reuters     17th May 2019 Competition Appeal Court on Friday gave the green light to Sibanye-Stillwater's takeover of Lonmin in a deal that aims to create the world's second-largest platinum producer. Lonmin's biggest mining union, the Association of Mineworkers and Construction Union, filed an appeal to try to block the... 

Sibanye wins final go-ahead for Lonmin deal

Modernisation process could assist economic prosperity

By: Nadine James     17th May 2019 The industry needs to modernise, “but let’s be clear about what modernisation is not – it is not simply mechanisation, it is far more than that”, says Minerals Council South Africa modernisation and safety senior executive Sietse van der Woude, He describes it, instead, as a process of transition... 

Modernisation process could assist economic prosperity
SIETSE VAN DER WOUDE The transition to modernised mining needs to afford all stakeholders the chance to develop policies and programmes which ensure sustainability beyond minin

Junior-specific Charter III provisions will boost growth

By: Nadine James     17th May 2019 The Minerals Council South Africa facilitated the inclusion of junior-specific provisions in Mining Charter 3, gazetted in September last year, says Minerals Council Junior and Emerging Miners Desk head Grant Mitchell. He notes that the provisions will assist the stability and growth of the... 

Sibanye-Stillwater plans to resume dividend payments in 2020

By: Reuters     16th May 2019 Higher prices for industrial precious metals palladium and platinum have boosted earnings at Sibanye-Stillwater, enabling the miner to repay debt and plan to resume dividends next year, its chief executive Neal Froneman said. Sibanye, once the industry's highest dividend payer, last made a... 

Sibanye-Stillwater plans to resume dividend payments in 2020
Sibanye -Stillwater CEO Neal Froneman

$62m Zimbabwe smelter heeds local beneficiation call 

By: Martin Creamer     16th May 2019 The $62-million smelter at Unki Mine’s existing complex is a strategic investment, which meets local beneficiation commitments, Anglo American Platinum said on Thursday, when it opened the completed installation at a ceremony in Shurugwi, Zimbabwe. The smelter investment is indicative of the... 

$62m Zimbabwe smelter heeds local beneficiation call
Matte casting at the new smelter at Anglo American Platinum’s Unki Mine in Zimbabwe.

Northam Platinum plans to buy back preference shares 

By: Reuters     15th May 2019 Northam Platinum plans to buy back about 15-million preference shares out of 159-million currently in issue in the financial year ending June 2020, its chief executive said on Wednesday. The miner, one of the top platinum producers globally, wants to reward shareholders following a boost to... 

Ivanhoe receives additional C$679m investment

By: Simone Liedtke     15th May 2019 Co-chairpersons of TSX-listed Ivanhoe Mines, Robert Friedland and Yufeng Sun, on Wednesday announced that Citic Metal, through a subsidiary, is investing an additional C$612-million in Ivanhoe at C$3.98 a share. Zijin Mining Group has now also fully exercised its antidilution rights, also at... 

Tharisa sticks to dividend guns as mine reconfiguration lowers output, profit 

By: Martin Creamer     15th May 2019 Platinum group metals and chrome mining company Tharisa Minerals has not allowed lower half-year production, profit and cash flow to get in the way of declaring an interim dividend. The Johannesburg- and London-listed company declared a $0.005-a-share payout on earnings a share of $0.4c, in... 

Tharisa sticks to dividend guns as mine reconfiguration lowers output, profit
Photo by Creamer Media
Tharisa Minerals CEO Phoevos Pouroulis.

Zimbabwe platinum mines to ride out power cuts, gold output less secure 

By: Reuters     15th May 2019 Power imports are cushioning platinum mining companies against Zimbabwe's worst blackouts in three years, but gold mines could face production cuts as they continue to rely on an unstable national grid, industry officials said. State utility ZETDC this week started indefinite rolling power cuts... 

Lonmin likely to cut fewer jobs due to revenue boost – CEO

By: Reuters     15th May 2019 Lonmin will delay or reduce the number of jobs it had planned to cut in South Africa as soaring palladium prices have boosted revenue, its chief executive said, ahead of a takeover by Sibanye-Stillwater. Higher prices for a basket of Lonmin's metals and a weaker South African rand helped the... 

Military stake stymies $4bn Zimbabwe platinum project  

By: Bloomberg     15th May 2019 A plan to build Zimbabwe’s biggest platinum mine at a cost of about $4-billion is floundering because a military stake in the project has deterred potential backers, according to people familiar with the funding discussions. The African Export-Import Bank has the mandate to raise money for the... 

Military stake stymies $4bn Zimbabwe platinum project

President's correct, S Africans need to act together to realise economic opportunities – Baissac   

By: Martin Creamer     14th May 2019 President Cyril Ramaphosa is correct in stating that South Africans need to act together with urgency and boldness if they are to realise the economic opportunities before them, Eunomix CEO Claude Baissac said on Tuesday. Baissac, who was speaking to Mining Weekly Online following the finding of... 

President's correct, S Africans need to act together to realise economic opportunities – Baissac
Eunomix CEO Claude Baissac talks to Mining Weekly Online’s Martin Creamer about South Africa’s economic growth needs. Video: Nicholas Boyd. Photograph: Dylan Slater.

Platinum miners brace for labour clash in early Ramaphosa test  

By: Bloomberg     14th May 2019 When the world’s biggest platinum miners sit down with labour unions this month to negotiate a three-year wage deal, it could prove an early test of Cyril Ramaphosa’s new presidency in South Africa. An amicable outcome will bolster Ramaphosa -- the former mine union leader and one-time platinum... 

Platinum miners brace for labour clash in early Ramaphosa test

ABM, Kalahari collaborate on Molopo Farms Complex exploration

By: Marleny Arnoldi     13th May 2019 Aim-listed African Battery Minerals (ABM) has entered into an earn-in agreement over a base metals and platinum group metals (PGMs) exploration opportunity in Botswana. ABM has acquired an 18.2% interest in Kalahari Key Mineral Exploration, which owns the Molopo Farms Complex project, for $194... 

Platinum market set to move into deficit this year – Johnson Matthey 

By: Marleny Arnoldi     13th May 2019 The platinum market is expected to move into deficit this year, with a resurgence in investor activity to outweigh modest falls in industrial and jewellery demand, says Johnson Matthey in its latest platinum group metals market report. The science multinational company expects a tentative... 

Platinum market set to move into deficit this year – Johnson Matthey

Zimbabwe starts rolling power cuts, hitting mines, industry

By: Reuters     13th May 2019 Zimbabwe has started rolling power cuts lasting up to eight hours that will also hit mines, a schedule from the State power utility showed on Monday, after reduced output at both the largest hydropower plant and ageing coal-fired generators. The power cuts will add to mounting public anger... 

First-quarter platinum demand up 32% on surge in ETF holdings  

By: Nadine James     13th May 2019 Platinum demand increased by 32% year-on-year to 2.56-million ounces in the first quarter of this year, following a surge in investment demand, the World Platinum Investment Council noted in its latest ‘Platinum Quarterly’ report, released on Monday. Investment demand was high enough to offset... 

First-quarter platinum demand up 32% on surge in ETF holdings

Palladium's price gap over platinum needs to shrink – Nornickel 

By: Reuters     13th May 2019 The price gap between palladium and its sister metal platinum needs to shrink as number one platinum producer South Africa requires a higher price for the metal to keep investing in new supply, Russia's Norilsk Nickel said. Norilsk is the number one producer of palladium, accounting for more than... 

Lonmin/Sibanye merger judgment set for Friday 

By: Martin Creamer     10th May 2019 The Competition Appeal Court judgment on the merging of Lonmin with Sibanye-Stillwater is expected to be handed down in the Cape High Court on May 17 at 10h00, Mining Weekly Online can today report. The appeal against the merger was brought by the Association of Mineworkers and Construction... 

Lonmin/Sibanye merger judgment set for Friday
Photo by Creamer Media
Lonmin-Sibanye merger seen as a perfect job-saving fit.

Lower chrome price, higher costs drag down Tharisa’s interim earnings

By: Marleny Arnoldi     10th May 2019 JSE- and LSE-listed platinum-group metals (PGMs) and chrome producer Tharisa expects to report basic earnings per share (EPS) and headline earnings per share (HEPS) of $0.04 apiece for the six months ended March 31. This is a decrease of 60% compared with the EPS and HEPS of $0.10 apiece... 

Low morale, management turnover hit Lonmin output

By: Martin Creamer     10th May 2019 Low morale and high management turnover hit the operational performance of Lonmin heavily in the six months to March 31. In reporting a 4%-reduced workforce to 29 812, Lonmin CEO Ben Magara reiterated his conviction that the consolidation of the company through the all-share Sibanye-Stillwater... 

Low morale, management turnover hit Lonmin output
Photo by Creamer Media
Lonmin CEO Ben Magara

Jubilee to maintain growth momentum with PlatCro coming into production

By: Simone Liedtke     9th May 2019 AltX- and Aim-listed Jubilee Metals on Thursday reported that the strong performance of the first quarter is expected to be maintained in the second quarter, as the PlatCro platinum group metals (PGMs) project is being brought into production at a targeted processing rate of 60 000 t/m. The... 

PGMs operations offset strike-induced gold losses at Sibanye-Stillwater 

By: Simone Liedtke     9th May 2019 The first quarter of 2019 marked an important period for JSE- and NYSE-listed Sibanye-Stillwater, with the group having successfully navigated operational and financial challenges, including a five-month strike at its South African gold operations. The impact of the Association of Mineworkers... 

AngloGold embarking on process to dispose of South African assets  

By: Martin Creamer     9th May 2019 Iconic South African gold-mining company AngloGold Ashanti said on Thursday that it was embarking on a process to review divestment options for its remaining South African assets. The company, headed by CEO Kelvin Dushnisky, said the process would consider all ownership options, with a view to... 

AngloGold embarking on process to dispose of South African assets
Photo by Bloomberg
AngloGold Ashanti CEO Kelvin Dushnisky

Worley creating a force for the future of resources and energy 

By: Martin Creamer     7th May 2019 Following the announcement in October 2018 of WorleyParsons' binding offer for Jacobs' Energy, Chemicals and Resources, the combined new entity has come together under a new brand – Worley – involving 57 600 people across 51 countries. While financially a $3.2-billion acquisition, operationally... 

Worley creating a force for the future of resources and energy
Photo by Creamer Media Chief Photographer Dylan Slater
From left, Krish Iyer, president Middle East Africa, Francois Bosch, business development (BD) sales manager, East Africa, Denver Dreyer, senior vice president Mining Minerals and Metals (MM&M), Europe Middle East Africa, Ian Davies, senior vice president, BD & Growth MEA, Ryan Froude, operations manager, East Africa, Robert Hull, vice president, MM&M, Africa, and Ed Hanbidge, vice president, Energy Chemicals and Services, Southern and Eastern Africa.

Marikana mineworkers case postponed again

By: African News Agency      7th May 2019 Seventeen Marikana mineworkers briefly appeared in the North West High Court, sitting in Mogwase, on Monday. Their case was postponed to October 18, due to an application they made at the High Court in Pretoria to review former National Director of Public Prosecution (NDPP) Shaun Abrahams'... 

Bauba, Northam enter into trial product sale agreement

By: Simone Liedtke     6th May 2019 Diversified miner Bauba Platinum has entered into a trial product sale agreement with Northam subsidiary Booysendal Platinum. The agreement is effective from April this year and will see Northam process 24 000 t of low-grade chrome ore to be supplied by Bauba at its concentrator plant over a... 

Amplats appoints PwC as external auditor from 2020

By: Simone Liedtke     3rd May 2019 Diversified miner Anglo American Platinum has appointed Pricewaterhouse Coopers as its external auditor from 2020. The decision follows after the miner announced in its 2018 Integrated Report that Deloitte & Touche’s services as the external auditors of Amplats would terminate by rotation in 2020. 

NAP hits quarterly revenue record

By: Mariaan Webb     3rd May 2019 The world’s only pure play palladium producer, North American Palladium (NAP), has reported its highest-ever quarterly revenue of C$128.3-million, thanks to a strong palladium price. Revenue jumped nearly 50% in the first quarter of 2019, when compared with the C$86.6-million revenue in the first... 

Platinum seen contributing as much to SA economy as gold did in the 20th century

By: Natasha Odendaal     3rd May 2019 With the too-high economic cost of a lost opportunity looming, immediate measures are required to assist the platinum group metals (PGMs) mining sector to improve its viability and preserve employment. This is the intent behind the industry’s new South African National Platinum Strategy, with its... 

Platinum seen contributing as much to SA economy as gold did in the 20th century

Sibanye says platinum mine shaft shut until official inspection

By: Bloomberg     2nd May 2019 Sibanye-Stillwater was ordered to shut down the shaft at its Rustenburg platinum mine where 1 800 workers were trapped for as long as ten hours on Tuesday after an accident with an underground transport system. South Africa’s Department of Mineral Resources issued a so-called Section 54 notice,... 

Power cuts, mine development and jewellery marketing make headlines  

2nd May 2019 This week Mining Weekly editor Martin Creamer unpacks how power cuts are affecting Amplats, reducing mine development risk and jewellery’s influence on platinum.   

Power cuts, mine development and jewellery marketing make headlines
Power cuts, mine development and jewellery marketing make headlines

New Ivanhoe president named as Johansson retires

By: Creamer Media Reporter      2nd May 2019 Tony Giardini has returned to Ivanhoe Mines and has been named president of the Canadian company, which is focusing on base metals and platinum-group metals projects in the Democratic Republic of Congo and South Africa. Giardini, who was most recently executive VP and CFO of Toronto-based... 

Mineworkers held back at Thembelani shaft for their safety – Sibanye

By: Tasneem Bulbulia     30th April 2019 Sibanye-Stillwater on Tuesday afternoon confirmed that mineworkers at the Thembelani shaft have been held back from being hoisted back to surface for their own safety, after rails fell off a conveyance earlier in the day. The Association of Mineworkers and Construction Union (AMCU) had earlier... 

Palladium sees wildest price swings since 2015 as investors exit

By: Bloomberg     30th April 2019 Palladium futures tumbled, spurring the wildest price swings since late 2015 as investors turned sour on the precious metal. The commodity used mostly in auto catalysts has been a profitable trade as supply shortages boosted prices of near-term contracts. That gave investors the incentive to sell... 

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