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Platinum Group Metals News

Balance expected to return to platinum market

By: Martin Zhuwakinyu     17th October 2003 London-based research and consultancy firm Virtual Metals believes that the?platinum market will continue to be robust for the next few years and?expects the metal’s price – which reached a 23-year high of $724/oz at the?beginning of this month – to remain in the $650/oz to... 

Stillwater inks deal to recycle autocat PGMs

17th October 2003 Stillwater Mining said Wednesday that Power Mount will supply autocatalysts, which are rich in platinum group metals, for Stillwater torecycle at its Montana smelting and refining facility. 

PTM continues Elandsfontein drill programme

17th October 2003 Canadian explorer Platinum Group Metals (PTM) has completed four additional drill holes at the Elandsfontein project, under the custody and control of Snowden Mining Industry Consultants. 

Pickled onions and cut flowers considered

By: elizabeth rebelo     17th October 2003 South Africa’s third-largest platinum producer has become a catalyst for the development of sustainable businesses and is considering two high-impact projects in the Mooinooi area, Lonmin Platinum manager corporate affairs Mike Gcabo tells Mining Weekly in an exclusive interview. 

Messina Platinum raises $8,5m

15th October 2003 Canadian miner SouthernEra Resources yesterday announced the results of the rights offer at the company's subsidiary, Messina, which concluded on October 10. 

Angloplat sees jobs losses due to strong rand

15th October 2003 South Africa's Anglo American Platinum (Angloplat) said yesterdayit expected to make job cuts due to cost pressures from the strong rand. 

Leeukop project moves to exploration drilling phase

13th October 2003 The Leeuwkop 402 JQ farm, situated on the western limb of the Bushveld complex, is to undergo a thorough drilling exploration programme in a bid to raise the confidence level of the platinum resource, with the hope to progress into a profitable mining venture in the near future. 

Flameproof the new requirement

By: candice haase     10th October 2003 As a result of legal requirements and a number of methane ignition-related tragedies underground, gold-mines are reported to be going flameproof. 

Platinum seen shrugging off shift in auto demand

10th October 2003 Platinum prices should stay in touch with current 23-year peaks even though key consumers in the auto industry are turning to palladium to build the technology to clean up exhaust emissions, analysts said on Wednesday. 

Platinum deal could be BEE flagship - Gilbertson

By: Jill Stanford     10th October 2003 A flagship that will stand as a model for black economic empowerment (BEE) in the mining industry might emerge with the sale by Implats of its entire 27,1% holdings in Lonmin’s platinum assets, Lonplats, for $800-million, said Lonmin consultant and former BHP Billiton CEO Brian Gilbertson... 

Platinum prices seen rising towards $800

7th October 2003 The price of precious metal platinum, which jumped to a fresh 23-year peak last week, is set to stay firm in a trading range of $650-$800 an ounce over the next six months, a research and consultancy group said yesterday. 

Feared Angloplat shortfall rattles platinum market

6th October 2003 South Africa's Anglo American Platinum (Angloplat) is not likely to hit its 50% expansion target, analysts said on Friday, but some shrugged off market worries of big shortfalls as overblown. 

Northam, NUM conclude wage deal

6th October 2003 The management of Northam Platinum announced on Friday that the 2003 negotiations on wages and conditions of employment have been concluded and that agreement has been reached between the company and the National Union of Mineworkers. 

Platinum empowerment: the devil in the credit detail

By: Deborah Spicer     3rd October 2003 Double and triple accounting of black economic empowerment (BEE) credits have alarmed some watchers of last month’s Lonmin and Impala Platinum (Implats) deal to establish a new company (Newco) which will hold a 18% shareholding in platinum company Lonplats. 

Platinum, palladium surplus seen in 2003

2nd October 2003 Platinum supply has been growing faster than rising demand and is therefore projected to shift into a surplus in 2003 that could be as large as 199 000 oz, precious metals research group CPM Group said Tuesday. 

Vessel resumes marine diamond mining

2nd October 2003 Canadian diamond miner Diamond Fields International (DFI) said yesterday that the contract mining vessel MV Anya has resumed production in DFI's Marshall Fork marine diamond deposit in Luderitz Bay, Namibia. 

Gold regains top export-earning spot in 2002

26th September 2003 The South African gold industry regained its top export-earning spot from the platinum sector in 2002, a newly-released report shows. 

SA jewellery sector homes in on US, UK and Japan

By: Deborah Spicer     26th September 2003 The South African jewellery industry is considering options for a permanent marketing presence in the UK and the US, reports Jewellery Joint Action Group (JJAG) convenor Adrian du Plessis. 

$800m platinum deal opens way for BEE

26th September 2003 Platinum producers Lonmin and Impala Platinum (Implats) last week announced that they had concluded a non-binding agreement for the sale by Implats of it entire 27,1% holding in Western and Eastern Platinum, which together make up Lonplats, for $800-million. 

Platinum explorer lists in Australia

25th September 2003 Junior exploration company Nkwe Platinum yesterday made its debut on the Australian Stock Exchange following a $A10-million initial public offering. 

Lonmin launches $200m bond issue

24th September 2003 London-listed platinum miner Lonmin announced the launch of a convertible bond issue to raise at least $200-million yesterday. 

PTM settles War Springs dispute

24th September 2003 Toronto-listed Platinum Group Metals (PTM) announces that the dispute and legal challenge with respect to the prospecting permit and option agreement for the War Springs project, in the northern Bushveld Complex of South Africa, has been settled by agreement. 

New industrial demand could help palladium recovery

By: nkolola halwindi     22nd September 2003 The South African platinum-mining industry is in the midst of a flamboyant growth phase with massive expansions planned to meet increasing world demand for the precious metal. 

New PGM exploration campaign for Madagascar

22nd September 2003 AIM-quoted exploration company Jubilee Platinum plans to initiate a new phase of exploration on its concession in the Londokamanana area of Madagascar, some 160km north west of the capital Antananarivo. 

Safety straps able to resist falling 10 t concrete block

By: Martin Creamer     19th September 2003 New lightweight easy-to-install nylon rock straps have been introduced as a safety measure to poor ground areas at Impala Platinum mine in Rustenburg. 

Platinum’s No 2 to spend R2bn this year

By: Martin Creamer     19th September 2003 The world’s second-largest platinum company is budgeting to spend capital totalling R2,1-billion in the financial year to June 2004. 

Palladium: New industrial demand could help spur a recovery

By: nkolola halwindi     19th September 2003 The South African platinum-mining industry is in the midst of a flamboyant growth phase with massive expansions planned to meet increasing world demand for the precious metal. However, these expansions are also translating into a growth phase for another platinum-group metal (PGM) whose prospects... 

PTM’s Bushveld exploration yields encouraging results

19th September 2003 Canadian company Platinum Group Metals (PTM) has announced that early exploration work at its Tweespalk property, on the northern limb of the Bushveld Complex, in South Africa, has been encouraging. 

Implats sells Lonplats stake for $800m

19th September 2003 The world's second-biggest platinum producer, Implats, unveiled plans yesterday to sell its stake in the platinum activities of Britain's Lonmin for $800-million to comply with South Africa's black empowerment laws. 

Joburg precious-metals exchange proposed

16th September 2003 A Department of Minerals and Energy (DME) minerals-economics unit has begun pondering the possibility of establishing a major financial hub in Johannesburg built around a precious-metals exchange, and suggests that the proposal should be widely debated. 

Impala increase Zimplats shareholding to 82,5%

16th September 2003 South African platinum producer Impala Platinum (Implats) has announced that as of the close of business on September 12 it had increased its shareholding in Zimbabwe Platinum Mines (Zimplats) to approximately 82,5%. 

Platinum No 2 climbs the resources ladder

By: Martin Creamer     15th September 2003 The world’s second-largest platinum company has increased its resources base fivefold in five years. 

Platinum No 2 climbs the resources ladder

By: Martin Creamer     12th September 2003 The world’s second-largest platinum company has increased its resources base five-fold in five years. 

Palladium could be in demand to super-clean hydrogen for fuel-cells

12th September 2003 Palladium could be in new demand to provide super-clean hydrogen for stationary fuel-cells, Mining Weekly can today report. 

Platinum junior closes IPO offer early

12th September 2003 Junior platinum group exploration company Nkwe Platinum on Wednesday closed its heavily oversubscribed offer to raise $A10-million for exploration and project evaluation of six platinum prospects in the Bushveld Complex of South Africa. 

SouthernEra ups stake in Messina

12th September 2003 Canadian miner SouthernEra reported that it has acquired an additional 167 841 shares in its South African subsidiary, Messina, between May 22 and July 8. 

Northam Platinum to distribute 35c/share

11th September 2003 South Africa's Northam Platinum said on Tuesday it had proposed a cash distribution of 35 cents per ordinary share. 

Nkwe Platinum aims to raise A$10m

9th September 2003 Junior platinum group-metals (PGM) exploration company Nkwe Platinum yesterday opened an offer to raise A$10-million for exploration and project evaluation of six platinum prospects in the Bushveld Complex of South Africa. 

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