13,000 jobs to be slashed as the local platinum industry grapples with rising costs and weak prices for the precious metal.
Platinum Group Metals Mining News
From the $939bn invested in major projects between 2008 and 2017, the world’s top 40 mining companies by market cap. wrote-off $273bn or 29% of the initial capital outlay.
Mineral Resources Minister Gwede Mantashe believes mines on care and maintenance are bad for the economy.
“China’s buoyant mood is giving way to concerns around tightening credit and a slowing manufacturing sector."
Platinum prices drops 5% on Monday to lowest since July 2004 as US–Europe car trade spat adds to precious metal's woes.
Additional cuts are to come across mines and towns in South Africa, once the world’s biggest producer of gold.
A week choc-a-bloc with billion dollar copper, iron ore and cobalt deals ends with huge drop in prices and sell-off in stocks of mining's biggest names.
China is the world's biggest car market and produces only a fraction of the platinum and palladium it consumes.
It gives the company access to 23,903 hectares of land in the country Great Dyke, which has a potential for 96 million ounces of platinum and palladium.
Researchers at the University of Notre Dame invented a new class of molecules whose shape and size enable them to capture and contain precious metal ions.
Are the dark days for platinum set to last?
The miner's Zimbabwean subsidiary, Zimplats, has released 23,903 hectares of its mining claims to the government.
Jamie Keech of Capital Exploits talks with Maurice Jackson of Proven and Probable about what he sees as the benefits of investing in Platinum Group Metals.
Large scale speculators in platinum futures go shortest ever as Europe industrial policy chief says "diesel cars are finished".
The Trump administration is strategizing to reduce import reliance for metals "critical to the economic and national security of the United States."
Uranium and key rechargeable battery metals lithium and cobalt are on a final list of 35 critical minerals that the US deems essential to national security.
By mid-morning, Lonmin shares had lost 5.6% of their value in London, while Sibanye’s were down 4.9% in Johannesburg, even though the companies announced they had received the approval of the South African Reserve Bank (SARB).
Bad news from South Africa’s platinum belt has pushed shares of Impala to the lowest since 1999.
The two companies will exchange past exploration information on areas prospective for diamonds in Zimbabwe and form a jointly-owned special purpose vehicle to develop and exploit diamond resources.
The announcement is the last of a string of difficulties Anglo has faced with the iron ore mine, which was expected to produce 16 million tonnes this year, but that will now generate just 3 million tonnes.
Move aims at boosting investment and local ownership of the country's vast mineral resources.
In partnership with the Wits Mining Institute (WMI) at the University of the Witwatersrand, the company launched the Sibanye-Stillwater Digital Mining Laboratory (DigiMine).
South Africa’s top gold producer has secured a 38% stake in DRDGold in exchange for some of its assets, which boosts the mid-tier gold miner’s reserves by 91% to 5.7 million ounces.
Newly appointed Minister of Mineral Resources Gwede Mantashe said the key to regain investors and miners confidence in the South Africa’s mining sector was to finalize revised plans for black ownership in the industry in the coming weeks.
The mpowerment laws now limit majority ownership by state miners only to the diamond and platinum sectors, as oppose to the entire mining sector.