Palladium Mining News

New study says 66% of institutional investors choose Africa as number one destination. No wonder. Have you seen the size of that place?

A new survey by The Economist Intelligence Unit finds when institutional investors interested in frontier markets were asked to choose two regions out of five, two-thirds see Africa – projected to be the fastest growing region on the planet this year – as holding the greatest opportunity.

Fuel cell powered mine loco to be trialled at Anglo Platinum

Discussed in depth in our forthcoming March 2012 issue, the use of rail in underground mining is still widespread. It is also not standing still in terms of new technology. Vehicle Projects of Golden, Colorado and Anglo American Platinum in South Africa are collaborating on a project to build five fuel cell mine locomotives to be demonstrated in mid-2012 at Amplats's Dishaba underground mine in Limpopo province, South Africa.

Anglo Platinum's very bad year could be good for the market

Anglo Platinum, the world's number one platinum producer, suffered more than 80 safety-related work stoppages including 12 fatalities, that resulted in lower output and a drop in profits of over 60% in 2011.

Is it now time to invest in platinum ETFs

With the gap between platinum and gold prices narrowing is now the time to invest in platinum ETFs. Article looks at some of the ETF options available.

South Africa platinum miners given 20 days for lapsed rights ideas

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.

Ethical Coal: Mongolia’s sparkling potential amidst regional energy demand

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.

South Africa is looking at mining super-tax, 'targeted intervention' in platinum sector

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.

Which way now for precious metals?

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.

Tougher year for platinum mines

The stresses that have afflicted South Africa's platinum miners for the best part of a year appear to be coming to a head.

Platinum industry attacked from many angles: Aquarius Platinum CEO

Aquarius Platinum CEO, Stuart Murray, announced frustration with the platinum industry due to strikes, regulatory hurdles and PGM oversupply.

Underpriced precious metals juniors due to move in 2012: Matthew Zylstra

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 Reports Q1 2012 Financial Results

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.

Platinum: a long term play

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.

CEO of Impala Platinum Holdings steps down

Impala Platinum Holdings (JSE:IMP), a leading producer of PGM and responsible for 25% of global platinum output, is losing its CEO.

South African PGM production down 2.7 percent

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.

Diamond Frank Exploration Inc. Increases its Commandant Property and Continues its Exploration Campaign

Diamond Frank Exploration Inc. ("Diamond Frank") (TSX VENTURE:DOD) announces that it has received confirmation from the Quebec Department of Natural Resources and Wildlife that it holds 102 additional claims to the north and west of its Commandant property. The property "Commandant Extension" covers 5,920 hectares, bringing the total area controlled at 100 % by Diamond Frank Exploration Inc. in this region to more than 9,637 hectares.

Solitario Exploration and Royalty up for the week after zinc drill results

Solitario Exploration & Royalty (TSE:SLR) said today that its drilling results at its Bongará zinc joint venture project in Peru were "outstanding".

US$100 million debt facility agreement completed: Eastern Platinum Limited

Eastern Platinum Limited (the “Company” or “Eastplats”) is pleased to report that further to its press release of February 1, 2011 announcing the receipt of letters of commitment for a debt facility

Except for gold and oil, commodities finish down in 2011

Most commodities, except for the heavyweights gold and oil, are poised for a down year in 2011, the first fall for this sector since the financial crisis hit in 2008.

Eastplats increases equity interest in Lion's Head Platinum and ownership in the Mareesburg platinum project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 22, 2011) - Eastern Platinum Limited (TSX:ELR)(AIM:ELR)(JSE:EPS) ("Eastplats" or the "Company") is pleased to report that it has increased its interest in the Mareesburg platinum project ("Mareesburg") as a result of purchasing a further 23% interest in Lion's Head Platinum (Proprietary) Limited ("LHP"), the entity that owns a 100% interest in Mareesburg. The consideration to be paid by Eastplats to acquire this additional interest in LHP is US$10 million and 20 million common shares of Eastplats, making the total cost to the Company approximately US$20.5 million.

Palladium beats others as US car sales expand

Palladium, used mostly in catalytic converters for vehicles, beat most other commodities this week after US car sales expanded at the fastest pace in more than two years.

Platinum producers sign far-reaching wage pacts

Lonmin joined AngloPlat and Implats, this week signing a far-reaching two year wage pact ensuring a steady supply from Southern Africa where 75% of platinum is produced. The price of platinum has crashed from $1,915/oz in August as PGMs come under pressure due to sagging demand from the automobile sector which is slashing use of the precious metals to cut costs. And miners reducing supply to up prices is unlikely say analysts.

Stocks rally, lifting commodities

North American stock exchanges are on a tear today after central banks made more funds available to lenders, giving investors hope for a way out of the European debt debacle. The markets were also cheered by better than expected private sector job growth in the United States. The mining-heavy S&P/TSX Composite was up 2.5% to just over 12,000 at time of writing. The Dow Jones Industrial Average gained 384 points, or 3.3%, the most on a closing basis since Aug. 11, according to Bloomberg. Spot gold was up $32 from yesterday to $1747 which is just above the 20-day moving average of $1744, noted Kitco. Silver was up marginally to $32.86 from yesterday's $31.92, while benchmark copper was up more than 5% to a two-week high of $7,885/tonne. Zinc, lead, aluminum and nickel were also up from Tuesday.

Implats shuts Rustenburg shaft, 2 workers trapped

Implats reported Friday that a search mission was underway at its Rustenburg operation in search of two trapped workers and had stopped work at the affected shaft. Impala Platinum, the world's second-largest producer of the precious metal, said on Friday

Implats production drops 12 percent while unit costs increase 10.8 percent

During Q1 Implats production fell 12% due mostly to planned operational outages. Gross platinum production was 388,000 oz compared to 441,000 during the same quarter a year ago. Palladium also declined in line with platinum, coming in at 251,000 oz compared to 285,000 year ago. Rhodium declined by just 7% from 53,000 oz compared to 57,000 oz. Costs also rose during Q1. "Group unit cost per platinum ounce produced excluding share-based payments rose by 10.8% from the previous quarter a year ago primarily due to the recent impact of the 10% wage settlement and the continuation of high electricity tariff increases," said the company in a statement.