Platinum Group Metals Mining News

Indian billionaire Agarwal to be Anglo American’s top shareholder

He intends to buy as much as 1.5 billion pounds (about$2 billion) worth of additional Anglo American shares.

Palladium price consensus forecasts point to end of the rally

Speculative frenzy not entirely supported by fundamentals.

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.

S.Africa mining minister will not say contested charter is law – Chamber of Mines

Mines minister Mosebenzi Zwane had pledged in writing to a court that he would not publicly say changes to an industry charter were "law" until a judicial challenge has been completed.

South Africa's chamber of mines says sector "in crisis"

South Africa holds the world's biggest reserves of platinum, chrome and manganese, but investment in the sector has dropped in each of the past two years as a result of increasing legal uncertainty and labour disputes.

South Africa's manufacturing, mining output disappoint as economy limps

Official figures released on Thursday signall a bad start for the second half of the year with business confidence at its lowest in more than three decades.

Platinum price pressured as market moves into oversupply

A rise in refined supply (despite a 9% dip in mine-level output) and a drop in automotive and industrial demand erases Q1's 305,000-ounce deficit.

Sibanye halts divvy for first time as it swings to loss

The miner, South Africa’s largest gold producer, said that in the absence of a dividend, it’ll give investors two new shares for every 100 held.

Zimbabwe tightens screws on miners' export earnings in forex crunch

The country's Reserve Bank has ordered platinum and chrome miners to surrender 80 percent of their export earnings to the central bank as the country struggles to contain a crippling dollar note shortage.

Lonmin to sell surplus platinum capacity to raise cash

Platinum miner Lonmin Plc said on Monday it would cut costs and sell some assets, including processing capacity of up to 500,000 ounces per year, as it battles to overcome a weak market and to preserve jobs.

Zimplats says Zimbabwe asks court to enforce mining land seizure

Zimbabwe has filed a court application to enforce a previous notice to seize more than half of platinum producer Zimplats' mining land, the company said on Wednesday.

Luxembourg shoots for the stars with fresh space mining deal

The country's ultimate objective is to have its own space mining agency by the end of the year.

Toronto firm closing South African platinum mine

The Bokoni mine, a joint venture between Atlatsa and Anglo Platinum, produces around 150,000 ounces of platinum group metals per year.

Amplats warns H1 profits to fall on impairments, rand

South Africa's Anglo American Platinum (Amplats) expects half-year profits to fall by as much as 67 percent due to a stronger rand, lower sales and post-tax impairments, the company said on Tuesday.

South Africa halts new black ownership rules for mines

The suspension follows a pending a judgement in an urgent interdict application by the country's Chamber of Mines.

Luxembourg becomes first European country to pass space mining law

The bill, approved by a vast majority, defines the conditions companies must fulfill to get a licence for launching a space mining mission.

Private capital says no to mining

Study shows Q2 2017 new private capital for natural resources investment dropped to lowest since 2011 and not a single mining fund were able to raise money.

Top 50 mining companies reshuffle as Chinese, lithium firms climb rankings

Combined worth of 50 largest mining companies grow to $768 billion during first half of 2017, but a few big names drop down rankings.

More than 1,500 workers fired at Sibanye’s Cooke mine over strike

Workers at the mine downed tools over a week ago, angered by the company’s actions to eradicate illegal miners from its operations.

South Africa just hiked black ownership rules, miners getting crushed

The country will require local miners to be 30% black-owned and has set a 12-month deadline for them to comply with the new rules.

Anglo American appoints takeovers expert as new chairman

Stuart Chambers, 61 and former chairman of UK chip designer Arm, will join Anglo as a non-executive director in September, replacing Parker in November.

CHART: Commodity prices slump to 50-year low against US stocks

S&P500 most expensive compared to commodities since late 1960s despite last year's rally in metals and mineral prices.

'Strong hand' may be pushing palladium price higher

Back within shouting distance of 2-year highs amid talk of market "squeeze".

CHART: Hedge fund commodity bulls misread the market

Smart money's bullish bets on commodity futures and options slashed 64% from record high hit just three months ago.

Even with iron ore prices diving, NASA fast tracks mission to $10,000 quadrillion asteroid

If NASA is successful in its mission to 16 Psyche, one of the most massive asteroids found between the orbits of Mars and Jupiter, humans will have a first ever chance of exploring a world made of iron, not rock or ice.