Impala Platinum Holdings Mining News

Zimbabwe to scrap platinum and diamond mine ownership rules

Zimbabwe holds the world’s second-largest known reserves of platinum-group metals after South Africa, plus substantial deposits of gold, diamonds, lithium, iron ore, coal, chrome and nickel.

S.Africa's Implats in talks to sell 1 Shaft operation in Rustenberg

Implats plans to trim staff by about a third -- more than 13,000 jobs -- over two years at its Rustenburg platinum belt.

Top platinum mines keep digging even as price at decade low

Although about half of South African output is estimated to be unprofitable, few companies are reducing production by a meaningful amount.

Impala Platinum gives Zimbabwe almost half of its mining land

The miner's Zimbabwean subsidiary, Zimplats, has released 23,903 hectares of its mining claims to the government.

Impala Platinum seeks tenders for Marula tailings facility

The world’s second-largest platinum producer posted an ad on Friday in the local Mail & Guardian newspaper seeking tenders for the project.

World's No. 2 platinum stock languishes on output, cost woes

Bad news from South Africa’s platinum belt has pushed shares of Impala to the lowest since 1999.

About 2,500 jobs on the line at Impala Platinum’s Rustenburg operations

The miner warned further reductions could be in store at those operations, which employ 31,000 people.

South Africa replaces mining minister on eve of massive job cuts

Given that ousted minister Ramatlhodi is considered the main person that helped end a five-month strike in the country’s platinum sector last year, Zuma's decision is being questioned.

Zimbabwe platinum export tax shelved for now

The country had introduced the levy on raw platinum exports in January, aiming to encourage local processing of the metal.

Anglo American mulls sale of more coal mines in Australia

The operations that may be added to the list of assets for sale are Dawson and Foxleigh, in Queensland.

Cutifani says tough decisions needed to restore credibility

Anglo's chief warned the company plans to take severe measures over the next two years.

Anglo American chief not going for any major corporate split

A big corporate break-up à la BHP Billiton is definitively not in his books, he told

Anglo American platinum production down 40% after S. Africa strike

Output from the rest of Anglo's diversified mining assets rose, but it wasn't enough to offset underperformance at its platinum mines.

Amplats expects severely lower profits after five-month strike

The firm warned first-half profit may drop as much as 96%.

South African metal workers 'to escalate' strike

The National Union of Metalworkers in South Africa (NUMSA) has rejected the latest offer because it didn't include a double-digit wage increase for all three years.

Anglo American goes ahead and puts platinum mines, other assets up for sale

The firm is offloading some of its historic South African platinum mines as part of a $4bn sale of under-performing assets.

South Africa’s platinum miners to resume working

The three-year agreement ends the country's longest and costliest strike.

South African court rules gold miners not allowed to strike

The union leading the five-month strike in the platinum sector take any industrial action affecting gold producers.

Anglo to sell platinum mines in South Africa next year— report

Deutsche Bank has put a $1.4 billion price tag on the operations.

South Africa teeters towards recession on labour dispute

The latest attempt to end South Africa’s 21-week platinum strike has failed, pushing the country towards a recession and increasing the odds the sector will be smaller and more mechanized when it eventually resumes operations.

Lonmin profit hurt by platinum strike, two workers reportedly killed

The the world’s third-largest platinum producer said first-half operating earnings have dropped by almost two-thirds.

Anglo gives fresh signs it wants to offload platinum mines

CEO Mark Cutifani said the Rustenburg operations were no longer considered one of the company’s core assets.

Anglo American considers closing platinum mines in South Africa

The now three-month strike over pay in the country's platinum belt has forced Amplats to declare a force majeure on a long list of suppliers.

Lonmin management told to take leave as platinum strike goes on

Earlier this month the company said it would not hit its sales guidance of 750,000 ounces of platinum annually, as it has already lost 90,000 ounces since the strike began.

South Africa platinum strike damage irreversible, losses close to $1bn

Platinum miners said the financial cost of the strike doesn’t really tell the full story, as the real victims are those suffering from hunger, lack of businesses and increased violence on the streets.