Fatal accidents last week raised number of fatalities in 2017 to 76, above the 73 reported in 2016, South Africa’s Chamber of Mines said in a statement.
Platinum Group Metals Mining News
Company said it would keep its Beatrix West gold mine running for as long as it makes a profit, on average, over any continuous period of three months.
Miners who received a termination letter will hold a mass meeting at the mine Wednesday morning.
Precious metal is up 114% or $880 an ounce in 2017 as above-ground stocks are "bled dry".
David Morgan uncovers supply and demand fundamentals on mining, cost of production, utility, and ratios in Proven and Probable interview.
Precious metals miner said its platinum group metals (PGM) operations had delivered "solid operational results" in the first-half of 2017, prompting an upward revision to its 2017 production forecast and a downward revision to guided costs.
Consensus forecasts point to double digit declines for the platinum, zinc, copper and lead price by the end of the year, while coal is set to tank.
The country's chamber of mines and the ministry are locked in a number of legal disputes over the mining charter, which aims to increase black ownership and participation in the industry as part of a government drive to overcome apartheid's legacies.
Mine is expected to generate about 300,000 ounces annually by late 2021/early 2022, increasing total PGM production from Sibanye’s operations in the US by more than 50%.
Toronto-based Atlatsa Resources (TSXV:ATL) has made good on its stated intention to shut its Bokoni platinum mine in Limpopo province, South Africa.
A strong price recovery for the main commodities South Africa mines and exports has helped the country’s sector stage a turnaround in 2017, the first time in five years the industry is back in the black.
The specialty chemicals company said the overall market "could be (worth) more than $30 billion (in) sales when battery electric vehicle penetration increases to around 10 percent.
He intends to buy as much as 1.5 billion pounds (about$2 billion) worth of additional Anglo American shares.
Speculative frenzy not entirely supported by fundamentals.
The miner warned further reductions could be in store at those operations, which employ 31,000 people.
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 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.
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.
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.
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.
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.
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.
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.
The country's ultimate objective is to have its own space mining agency by the end of the year.
The Bokoni mine, a joint venture between Atlatsa and Anglo Platinum, produces around 150,000 ounces of platinum group metals per year.