South Africa’s ruling party, the African National Congress, appears to be moving away from nationalization of the mining industry to reassure foreign investors but is considering new taxes and “targeted interventions” in the sector, particularly platinum mines.
Platinum miners in South Africa have 20 days to provide ideas on lapsed and revoked mineral rights as the government looks to drive forward exploration in the country, reports Mining Weekly.
Mongolia is land-locked country in East and central Asia, bordered by Russia to the north and China to the south, east and west. With a population of 2.8 million people occupying 1.56 million square kilometers (roughly the size of Alaska), it is themost sparsely populated country in the world.
After marching steadily higher early in the week, gold and silver saw their biggest one-day losses in more than a month on Friday as hopes for more Fed money printing were dashed after the better-than-expected labor report.
The stresses that have afflicted South Africa’s platinum miners for the best part of a year appear to be coming to a head.
Aquarius Platinum CEO, Stuart Murray, announced frustration with the platinum industry due to strikes, regulatory hurdles and PGM oversupply.
After a tough year in 2011, there is definitely a good selection of underpriced junior resource stocks available for astute investors to focus on before the rest of the herd finally wakes up and smells the gold.
Platinum Group Metals Ltd. (TSX:PTM)(NYSE Amex:PLG) (“Platinum Group” or the “Company”) announces the publication of the Company’s financial results for the three months ending November 30, 2011.
Standard Bank maintains that while platinum prices over the long term are bolstered by a difficult supply outlook, over the short term, its prospects aren’t as good.
Impala Platinum Holdings (JSE:IMP), a leading producer of PGM and responsible for 25% of global platinum output, is losing its CEO.
South African platinum group metal production was down 2.7 percent for the three months ended November 2011 compared with the three months ended August 2011.
This February MINING.com celebrated its first anniversary. We want to thank all our readers for making this such a fun ride. With over ½ million page views each month and 125,000 daily email digest subscribers, MINING.com has become one of the top destinations for news and opinion about mining.
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