Platinum Group Metals Mining News

Implats to Cut 13,000 Jobs and Reduce Shafts to Stem Losses 

13,000 jobs to be slashed as the local platinum industry grapples with rising costs and weak prices for the precious metal.

Miners wrote off almost one-third of investments over last decade

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.

S. Africa seeks re-opening of shuttered mines to boost economy

Mineral Resources Minister Gwede Mantashe believes mines on care and maintenance are bad for the economy.

CHARTS: Halfway through 2018 and the mining rally is over

“China’s buoyant mood is giving way to concerns around tightening credit and a slowing manufacturing sector."

Platinum price plunges to 14-year low

Platinum prices drops 5% on Monday to lowest since July 2004 as US–Europe car trade spat adds to precious metal's woes.

Gold street is where South Africa’s mining history goes to die

Additional cuts are to come across mines and towns in South Africa, once the world’s biggest producer of gold.

Trump trade war blows up big week for mining majors

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.

Germany's Heraeus to open $100 mln precious metals recycling plant in China

China is the world's biggest car market and produces only a fraction of the platinum and palladium it consumes.

Tharisa expands Zimbabwe exposure with $4.5 million platinum deal

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.

Scientists develop technique to reduce cost, environmental impact of mining precious metal

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.

Thomson Reuters publishes GFMS Platinum Group Metals Survey 2018

Are the dark days for platinum set to last?

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.

The case for investing in platinum

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.

Hedge funds have never been this bearish on platinum price

Large scale speculators in platinum futures go shortest ever as Europe industrial policy chief says "diesel cars are finished".

What are "critical" minerals and what is the US going to do about them?: Andy Home

The Trump administration is strategizing to reduce import reliance for metals "critical to the economic and national security of the United States."

US confirms list of 35 key minerals, targets domestic supply boost

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.

Lonmin tanks as UK competition watchdog looks into Sibanye takeover

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).

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.

Botswana Diamonds, Vast Resources team up to explore in Zimbabwe

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.

Anglo delays Minas Rio restart until year-end, will lose about $400 million

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.

Zimbabwe wants mining companies to list on local exchange

Move aims at boosting investment and local ownership of the country's vast mineral resources.

Sibanye-Stillwater partners with Wits to create the 'mine of the future'

In partnership with the Wits Mining Institute (WMI) at the University of the Witwatersrand, the company launched the Sibanye-Stillwater Digital Mining Laboratory (DigiMine).

DRDGold okays Sibanye-Stillwater $110 million-assets exchange deal

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.

South Africa black ownership to roll out in May

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.

Zimbabwe changes majority black ownership for diamond, platinum mines

The mpowerment laws now limit majority ownership by state miners only to the diamond and platinum sectors, as oppose to the entire mining sector.