Large scale speculators in platinum futures go shortest ever as Europe industrial policy chief says "diesel cars are finished".
Platinum Group Metals Mining News
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.
Emissions scrubbing in vehicles accounts for over 40% of platinum demand, and landmark ruling will hasten demise of engine technology.
Company became the latest top miner to report soaring profits, hefty dividends and lighter debt burden.
The New-York based fund argues an overhaul could add more than $22 billion in value for shareholders and wants BHP to conduct an independent study.
New report says "deals in lithium, copper and cobalt are expected to feature high on the agenda of management teams across the industry."
South African competition authorities have approved the exchange of selected Sibanye-Stillwater's assets for a 38% stake in DRDGOLD Ltd.
Country is backing Prospect Resources’ (ASX:PSC) Arcadia lithium project, expected to generate that much revenue over eight years.
Platinum group metals production in South Africa rose 4 percent above the firm's guidance, to stand at to 1.19 million ounces.
Bankers, brokers, refiners and researchers in the London Bullion Market Association's 2018 survey sees gold as high as $1,510 and as low as $1,120 an ounce.
The National Union of Metalworkers of South Africa (Numsa) is demanding that Beatrix gold mine remains closed pending a probe and has asked the South African government to investigate why the operation apparently didn’t have a backup generator.
Originally there were more than 1,000 miners stuck underground, but sixty-four were rescued overnight.
Focus on platinum-palladium prices and ratios over the past 48 years.
The company beat expectations on Thursday with a 5% increase in 2017 production.
President Emmerson Mnangagwa, who took the post in November, has ordered an examination of both industries that may lead to the abolition of the 51% local ownership rule on them.