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Platinum Group Metals News

Platinum powers to a six-year high on tight global supply

By: Bloomberg     16th February 2021 Platinum rallied again, surging to the highest level in more than six years on signs that an economic recovery from the pandemic is set to boost demand for the metal used in catalytic converters. The precious metal has surged about 22% so far this year, outperforming all its peers, aided by... 

Gold steadies as investors weigh slowing virus spread, vaccines

By: Bloomberg     15th February 2021 Gold steadied as investors weighed the slowing pace of coronavirus infections, as well as immunisation programmes globally and the impact on growth. Platinum surged to a fresh-six-year high. The pace of the outbreak in the US continued to ease as the week-to-week average hit the lowest in almost... 

Nornickel studies use of LNG in mining dump trucks

By: Creamer Media Reporter      15th February 2021 Russian mining major Norilsk Nickel (Nornickel) is considering re-equipping its dump trucks for dual-fuel operation, using liquefied natural gas (LNG) in a move that will not only reduce environmental risks, but also lower production costs. A pilot project is under way to investigate the... 

Nornickel studies use of LNG in mining dump trucks

Sibanye reports strong growth in PGM, gold reserves

By: Marleny Arnoldi     15th February 2021 JSE- and NYSE-listed Sibanye-Stillwater has reported a 40% increase in platinum, palladium, rhodium and gold (4E) platinum group metal (PGM) reserves at its South African operations to 39.5-million ounces. This is primarily owing to the inclusion of the Marikana K4 project and the Klipfontein... 

Sibanye reports strong growth in PGM, gold reserves
Driefontein mine

PGMs-linked hydrogen production on way with local electrolysers, 12J funding  

By: Martin Creamer     15th February 2021 South African company Hydrox Holdings of Randburg is developing an advanced alkaline electrolyser to supply what it describes as “huge hydrogen demand”. The zero gap system will be the first locally produced electrolyser for South Africa and Africa, Hydrox states in a media release to Mining Weekly. 

PGMs-linked hydrogen production on way with local electrolysers, 12J funding
Photo by Creamer Media
Hydrox Holdings CEO Corrie de Jager

Hydrogen electrolyser installed in Canada

12th February 2021 Multinational industrial gases supplier Air Liquide has completed the construction of the world's largest proton exchange membrane (PEM) electrolyser. 

Hydrogen electrolyser installed in Canada
LOW-CARBON COMMITMENTS Air Liquide confirms its commitment to the production of low-carbon hydrogen on an industrial scale and its ability to effectively deploy the related technological solutions

Implats scores an A for water disclosure

By: Schalk Burger     11th February 2021 Platinum-group metals (PGM) producer Impala Platinum (Implats) says it has received an A rating for its water disclosure submission to global voluntary disclosure nonprofit organisation CDP for the 2020 CDP Water Disclosure Project. The rating, which also marks the second consecutive year Implats... 

Eastplats continuing expansion of its PGM operations

By: Simone Liedtke     11th February 2021 Eastern Platinum (Eastplats) has approved a revised 2021 capital budget following the closing of a rights offering, which raised gross proceeds of C$11.8-million. The company’s subsidiary, Barplats Mines, has now reserved an additional C$6.3-million (or R73-million) in capital funding for... 

Tharisa declares final dividend of $0.035

By: Marleny Arnoldi     11th February 2021 LSE- and JSE-listed Tharisa has declared a final dividend of $0.035 apiece for the financial year ended September 30, 2020. Executive chairperson Phoevos Pouroulis said in a statement on February 11 that the company had taken tough decisions over the last year, which has started to bear fruit... 

PGMs supply, demand to recover to pre-pandemic levels in 2021, says Johnson Matthey 

By: Donna Slater     10th February 2021 The platinum market remained in a deficit in 2020 despite an 18% fall in gross demand, estimates published in sustainable technologies company Johnson Matthey’s latest 'Platinum Group Metals Market' report show. Primary platinum supplies plunged by 20%, owing to processing outages and... 

WPIC says there is a ‘growing market’ for platinum in hydrogen adoption 

By: Simone Liedtke     10th February 2021 It is estimated that green hydrogen could supply up to 25% of the world’s energy needs and become a $10-trillion addressable market, says the World Platinum Investment Council (WPIC). This is underpinned by the recent emergence of strong green hydrogen-focused national hydrogen strategies,... 

Vision Blue helping world to achieve green dream with high-return prospects for investors  

By: Martin Creamer     10th February 2021 The world’s energy transition away from fossil fuels is a phenomenon that is not dependent on any assumptions about gross domestic product (GDP) growth or countries urbanising or industrialising. It is a phenomenon driven by international consensus that the carbon footprint of the world has to be... 

Vision Blue helping world to achieve green dream with high-return prospects for investors
Sir Mick Davis interviewed by Mining Weekly’s Martin Creamer about Vision Blue Resources. Video: Darlene Creamer.

Impala Canada helps establish research chair at Lakehead University

By: Creamer Media Reporter      9th February 2021 Impala Canada, an unit of South Africa’s Impala Platinum (Implats), is part of a joint collaboration to fund research aimed at unlocking the resource potential of north-western Ontario. Impala Canada is investing C$375 000 to help establish a new industrial research chair in mineral exploration... 

Implats expects to report up to 338% increase in interim headline earnings

By: Simone Liedtke     9th February 2021 Platinum group metals (PGMs) miner Impala Platinum (Implats) expects to report an increase of between 318% and 338% in headline earnings to between R14.1-billion and R14.7-billion, for the six months ended December 31, 2020. The compares with the earnings of R3.3-billion reported for the six... 

Platinum group metals outlook: constrained supply, very strong demand growth – WPIC  

By: Martin Creamer     8th February 2021 The outlook for platinum group metals (PGMs) is one of constrained supply and very strong demand growth. “You’ve got the entire PGMs suite that is short and that certainly will translate into tight markets,” World Platinum Investment Council (WPIC) Director of Research Trevor Raymond told Mining... 

Platinum group metals outlook: constrained supply, very strong demand growth – WPIC
World Platinum Investment Council Director of Research Trevor Raymond interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Healthy PGM-derived dividends ahead, capital investments to be limited – RMB

By: Donna Slater     8th February 2021 The financial results of platinum group metals (PGM) and iron-ore miners, which are due to be published in the month ahead, are expected to reveal healthy dividends for shareholders and a strong rise in taxes paid to the fiscus, but little in the way of capital investment in South Africa,... 

Amplats expects 50% rise in headline earnings

By: Marleny Arnoldi     8th February 2021 Ahead of releasing its full-year results on February 22, global diversified miner Anglo American Platinum (Amplats) says it expects its headline earnings and headline earnings per share (HEPS) to increase by between 49% and 69% year-on-year. The miner says its headline earnings for the year... 

PTM enters into equity distribution agreement with BMO Capital Markets

By: Donna Slater     8th February 2021 TSX- and NYSE-listed platinum group metals miner Platinum Group Metals (PTM) has entered into an equity distribution agreement with financial services provider BMO Capital Markets Corporation, effective February 5. Under the terms of the agreement, PTM may sell its common shares in the capital... 

Sibanye expects significant improvement in 2020 profit, earnings 

By: Donna Slater     5th February 2021 JSE- and NYSE-listed precious miner Sibanye-Stillwater expects to report profit attributable to the owners of the group of between R28.72-billion and R29.89-billion, or between $1.75-billion and $1.82-billion, for the financial year ended December 31, 2020. The profit compares with and is... 

LBMA says silver to be 2021’s top performer

By: Simone Liedtke     5th February 2021 The London Bullion Market Association (LBMA) has identified silver as the top performer among metals this year, considering that the commodity has garnered increased attention from investors over the past few days. The precious metal was up 20% in just three days, before correcting lower with a... 

Modernisation in South Africa will attract new investment, offer opportunities for industry 

By: Simone Liedtke     5th February 2021 Demonstrating that modernisation in South Africa is possible will attract new investment and offer opportunities for the mining industry, while simultaneously promoting the country as an attractive mining investment location, says Boston Consulting Group (BCG) MD and partner Tycho Mőnks. This... 

Modernisation in South Africa will attract new investment, offer opportunities for industry
Boston Consulting Group (BCG) MD and partner Tycho Mőncks talks to Creamer Media's Simone Liedtke about the benefits of modernisation, and touches on the Covid-19 pandemic. Video: Recorded on Zoom. Editing: Creamer Media's Nicholas Boyd.

PGMs faring well during pandemic

By: Theresa Bhowan     5th February 2021 While Covid-19 continues to pose challenges for several industries, the mining industry, specifically platinum group metal (PGM) mines, has been somewhat less affected. Mining advisory company Ukwazi tells Mining Weekly that most PGM mines, like other mines, were considered essential services and... 

PGMs faring well during pandemic
FARE WELL PGM mines were considered essential services during the Covid-19 lockdown and were able to ramp up to 50% of capacity according to regulation 11K promulgated in April, 2020

High demand creates price boom for PGMs

5th February 2021 With the news of effective and soon-to-be-deployed coronavirus vaccines and a decisive result in the US presidential election, global political and economic uncertainties have started to ease and there is a renewed sense of optimism. Platinum-group metals (PGMs) have been enjoying a surge, with... 

High demand creates price boom for PGMs
Photo by Bloomberg
HIGH VALUE Platinum prices remain supported above the $950 level

Palladium fund launches ETCs

5th February 2021 Palladium, nickel, platinum and copper producer Nornickel announced that the Global Palladium Fund (GPF), founded by Nornickel, launched exchange traded commodities (ETCs) for metals on Deutsche Börse, thereby enabling low-cost access to commodity investment opportunities. The fund’s intention... 

Palladium fund launches ETCs
Photo by Bloomberg
ALL THAT GLITTERS The Global Palladium Fund contributes physical palladium, platinum, gold and silver to the exchange traded commodities instruments

Metal volatility creates supply deficit

By: Theresa Bhowan     5th February 2021 Amid the global knock-on effects of Covid-19 in every industry, and despite the impending deficit caused by high demand and low supply, international commodities consultancy Core Consultants states that 2021 is the year for metals. “In the mining industry, metals have formed somewhat of a safe... 

Metal volatility creates supply deficit
LARA SMITH In the mining industry, metals have formed somewhat of a safe haven amid the global instability in democracies

Union Mine exceeds expectations

5th February 2021 Platinum group metals (PGMs) mine Siyanda Bakgatla Platinum Mine (SBPM) is exceeding all financial and operational expectations, says SBPM CFO Imraan Osman. “Since acquiring Union mine from platinum producer Anglo American Platinum in early 2018, our financial performance has improved... 

PGMs company’s subsidiary awarded US patent

5th February 2021 Platinum group metals (PGMs) mining company Platinum Group Metals reports that it has completed an "at-the-market" offering of common shares first announced on September 4, 2020. The offering was completed on November 30, 2020 pursuant to an Equity Distribution Agreement with financial service... 

PGMs company’s subsidiary awarded US patent
HIGHLY VALUED Platinum Group Metals sold 5 440 186 common shares in the capital of the company at an average price of $2.21 for gross proceeds of $12-million

Mining production fell in November

By: Theresa Bhowan     5th February 2021 As a consequence of renewed lockdown regulations in key trading partner countries, domestic mining production took a nosedive in November as it dropped by 11.6% year-on-year (y/y). This likely diminished hopes of a significant recovery in the sector for the fourth quarter as output levels... 

Mining production fell in November
GEOFF NÖLTING kdowns both domestically and abroad would likely hamper any meaningful recovery in the sector in the short to medium term

Sibanye-Stillwater appoints new South African gold head

By: Donna Slater     4th February 2021 JSE- and NYSE-listed precious miner Sibanye-Stillwater has appointed Richard Cox executive VP of its South African gold operations, effective February 1. His appointment follows the untimely passing of Shadwick Bessit on January 16.  

Survey shows 21% of South African miners have Covid-19 antibodies – Minerals Council

By: Donna Slater     4th February 2021 The Minerals Council South Africa last year announced plans to undertake a series of surveys to better understand the progression of Covid-19 in local mining operations and it has recently received the results of the first phase of seroprevalence surveys. The results show that the number of... 

Survey shows 21% of South African miners have Covid-19 antibodies – Minerals Council
Photo by Creamer Media
Minerals Council health head Dr Thuthula Balfour

African battery metals are central to global ESG agenda, says Indaba panel

By: Marleny Arnoldi     4th February 2021 The world is increasingly electrifying, while also focusing on environmental protection using green technology to do so, and Africa needs to capture as much of the investment value that goes along with those trends, Bushveld Minerals CEO Fortune Mojapelo has said. Speaking during a panel... 

African battery metals are central to global ESG agenda, says Indaba panel
Cobalt

Red tape costing SA miners their competitive edge, laments Sibanye-Stillwater boss 

By: News24Wire      4th February 2021 Rebooting local mining would require a common vision between the sector and government, the CEO of Sibanye-Stillwater Neal Froneman said on Wednesday, adding that a number of growth-inhibiting factors still remain. From policy certainty, efficient processing of mining rights application to... 

Platinum's value overlooked, says council

By: Tasneem Bulbulia     3rd February 2021 Despite platinum’s strong price performance, it remains undervalued compared with gold and other industrial metals, such as example palladium and copper, says industry body the World Platinum Investment Council. Since the start of this year, the platinum price has traded at over $1 100/oz, up... 

Mining has a role to play in supporting the global population, says Cutifani

By: Simone Liedtke     3rd February 2021 The global human population – almost nine-billion people – cannot be supported without mining, diversified miner Anglo American CE Mark Cutifani said during a panel discussion at the virtual Investing in African Mining Indaba on February 2. Speaking during an environmental, social and governance-... 

Mining right granted for PTM's Waterberg project 

By: Donna Slater     3rd February 2021 South Africa's Department of Mineral Resources and Energy (DMRE) has granted a mining right for TSX- and NYSE-listed Platinum Group Metals’ (PTM's) Waterberg project. The project is located on the Northern Limb of the Bushveld Complex in South Africa, about 85 km north of the town of Mokopane. 

Sibanye achieves responsible sourcing accreditation for South African PGM operations

By: Simone Liedtke     2nd February 2021 JSE- and NYSE-listed Sibanye-Stillwater has achieved Responsible Sourcing accreditation from the London Platinum and Palladium Market (LPPM). This accreditation means that the group’s South African platinum group metals (PGMs) refinery facility complies with the LPPM Responsible Platinum and... 

Eastplats to undertakes optimisation work on two PGM circuits

By: Marleny Arnoldi     2nd February 2021 TSX- and JSE-listed Eastern Platinum (Eastplats) has advised that, following the closing of a rights offering in January, its subsidiary Barplats Mines can now commit R9-million, or C$768 000, to the reconfiguration of a small-scale platinum group metal (PGM) circuit – known as Circuit D – at the... 

‘We need exploration to grow our industry’ – Minerals Council  

By: Martin Creamer     1st February 2021 “We need exploration to grow our industry,” Minerals Council South Africa president Mxolisi Mgojo said on Monday during a virtual State of the Mining Nation media briefing in which he described exploration as one of the low-hanging fruits that could change South Africa’s economic trajectory in... 

‘We need exploration to grow our industry’ – Minerals Council
Minerals Council South Africa media brief reporting by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.
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