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Mine security hinders investment in mining

19th May 2022 With South Africa ranked for the first time in the 10 least desirable of 84 global mining jurisdictions in the Fraser Institute’s Mining Companies Survey 2021, as measured by the Investment Attractiveness Index, it is clear that one of the hindering aspects is Mine Security that filters through... 

Tharisa’s acquisition of Karo considered to be fair to shareholders

By: Darren Parker     18th May 2022 JSE-listed integrated resource group Tharisa’s acquisition of a controlling interest in platinum group metals (PGMs) miner Karo Mining Holdings, which was announced on March 31, has been ruled fair insofar as the shareholders of Tharisa are concerned. The group announced on May 18 that the... 

Collaboration needed to make South African mining globally competitive again – CSIR 

By: Martin Creamer     18th May 2022 Concern about mineral resource scarcity is widespread and, at the same time, many countries, such as Australia, Canada and China, are investing significantly in strengthening their mining-related research, development and innovation (RDI) capabilities. “This makes cost and differentiation... 

PGI’s latest jewellery review shows continued demand for premium platinum products

By: Darren Parker     17th May 2022 Market development organisation Platinum Guild International (PGI) has released its latest Platinum Jewellery Business Review (PJBR), in which it highlighted platinum’s prestigious image among jewellery retailers across the globe and their customers. “Platinum’s unique qualities continue to... 

NUM shocked at decision to place Ubank under curatorship

By: Tasneem Bulbulia     17th May 2022 Trade union the National Union of Mineworkers (NUM) says it is “shocked and surprised” by Reserve Bank governor Lesetja Kganyago’s decision to place Ubank under curatorship. The union says this happened despite the Ubank’s board having committed on the night of May 16 that it would raise the... 

Johnson Matthey predicts smaller platinum surplus, palladium and rhodium deficits

By: Reuters     17th May 2022 A surplus in the platinum market should shrink this year and the palladium and rhodium markets are likely to move back into deficit, Johnson Matthey said in a report on Monday. The three metals are used in autocatalysts that reduce emissions from vehicle engines, with platinum also used in other... 

SARB takes control of small lender Ubank

By: Reuters     16th May 2022 South Africa's central bank said on Monday it had placed Ubank, a small South African lender primarily offering financial services to families of gold and platinum miners, under a curatorship with immediate effect. South African Reserve Bank Governor Lesetja Kganyago said in the last two years... 

Sibanye-Stillwater hoists first tons from R4bn 4 000-job K4 platinum project 

By: Martin Creamer     16th May 2022 The first tons have been hoisted at Marikana K4, Sibanye-Stillwater’s high-return resumed platinum group metals  (PGM) project, which was largely predeveloped and equipped when acquired from the now defunct Lonmin in 2019. “The K4 project is an unrivalled, top-tier project in the PGM industry,... 

Gold prices buckle under pressure from 'King Dollar', higher yields

By: Reuters     16th May 2022 Gold prices fell more than 1% to their lowest in three-and-a-half months on Monday as elevated bond yields and a firmer US dollar dampened bullion demand, even as riskier assets dropped after grim China economic data. A stronger dollar makes gold expensive for overseas buyers, while higher... 

South Africa’s high-flying Jubilee creating 800 mostly long-term jobs in Zambia 

By: Martin Creamer     16th May 2022 Diversified metal recovery business Jubilee, which is rolling out an investment of R786-million in South Africa and Zambia, has offered employment and contractor opportunities to more than 800 people in Zambia, the most of which are long term, the company stated in a release on Monday. In Zambia,... 

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