Platinum Group Metals Mining News

South Africa PGMs project moving forward

JSE-listed Wesizwe Platinum’s Frischgewaagd-Ledig platinum-group metals (PGMs) project, in the Western Bushveld Complex, is moving forward with the next step – the start of civil works.

Flotation column manufacturer provides solution for high chrome content in final platinum concentrates

Local flotation column supplier PrepQuip has been commissioned to supply two unique flotation columns equipped with external spargers to South African platinum operations.

Robert Pattinson buys Kristen gold locket

Robert Pattinson has given Kristen Stewart a $40,000 antique gold and platinum locket containing photos of them and a personal inscription in Latin.

Royal Bafokeng plans $1.4 billion platinum expansion

Bloomberg reports the proposed expansion by South Africa's Royal Bafokeng Platinum follows an increase in demand for platinum which has gained 19% in the past 12 months to $1,818/oz. Steve Phiri, RB Platinum CEO said demand is likely to exceed supply in the next three years, while a shortage of palladium, typically mined along with platinum, may rise to 1 million ounces in 2014. South Africa produces more than three-quarters of global supply.

Platmin Limited – Metal sales at record high in second quarter

Platmin Limited announced production results from the Pilanesberg Platinum Mine and financial results for the quarter and half-year endedJune 30, 2011. Sales revenue for the quarter-ended June 30, 2011 was US$34.5 million, an increase of approximately 130% compared with US$15.0 million recorded in the prior corresponding period; and for the half-year ended June 30, 2011 - US$60.5 million, an increase of approximately 80% compared with the prior corresponding period. Sales of 4E PGM ounces for the June 2011 month was 9,258oz or about 110 000oz annualized;

Platmin faces production delays

[miningmx.com] -- THE riots that took place at platinum junior Platmin on June 23 could delay the projected ramp-up to full production from the Pilanesberg Platinum mine (PPM) by three to six months. Previous guidance from Platmin CEO Tom Dale was that

Platinum dreams

Platinum is the most precious metal of them all. How to invest in it?

Silver equally an investment and industrial demand needs: uncover strategies of buying silver

Silver is like 3 other precious metals (gold, palladium, and platinum) in phrases of being thought to be an investment item. In reality, this valuable metal silver continues to be thought to be a type of currency together with a store of worth for over 4 centuries.

Gold Fields net earnings up 15% in the June quarter hitting US$186 million

Gold Fields, one of the world's top five gold producers, announced June quarter earnings that were up 15% to US$186 million, compared with US$158 million in the March quarter. During the same June quarter last year, Gold Fields made US$120 million. The company announced its quarterly results on Wednesday.

North American Palladium Announces Second Quarter 2011 Results

North American Palladium announced financial results and operational updates for the second quarter ended June 30, 2011. Highlights were production of 46,971 ounces of payable palladium at a cash cost1 of US$335 per ounce; realized palladium price of US$751 per ounce, giving an operating margin of US$416 per ounce, and total operating margin of US$20 million for the palladium produced; revenue of $51.4 million; and adjusted EBITDA of $15.4 million.

Aquarius takes $160m Blue Ridge impairment, 'ambles' forward

The ASX- LSE- and JSE-listed platinum miner Aquarius Platinum has taken a $160-million impairment knock on its currency-hit Blue Ridge Platinum Mine.

Aquarius Platinum says core profit rose 40%

The platinum producer said Thursday a strong rand outweighed higher prices for precious metals and, while EBITDA rose to $203.2m for the year, it reported a net loss on the back of a $159.8m impairment charge.

Gold pips platinum on safe-haven demand

In a rare development, gold prices have surpassed usually costlier platinum from the precious metal basket. Abroad, gold is trading at $1,746 per ounce and platinum at $1,732. In the Mumbai market, gold prices on Tuesday went up further by Rs 875 to Rs

As gold dashes past $1,700, $2,000/oz viewed as a possibility

In what is starting to look like a mad dash, the price of gold rose to a new all-time high of $1,770 an once, temporarily passing the price of platinum. Investors are turning to gold as global economic markets are faltering.

Gold pips platinum on safe-haven demand

In a rare development, gold prices have surpassed usually costlier platinum from the precious metal basket.

Mugabe threatens western firms in Heroes Day speech

As the country marked Heroes Day, Robert Mugabe used the occasion to make fresh threats to punish foreign owned companies from Western countries that have imposed targeted sanctions on him and his key ZANU PF officials. The US and European Union slapped the sanctions on Mugabe and his cronies because of human rights abuses.

Using platinum coins to make easy money, FDR would approve

Matthew Yglesias says that the Obama administration may start looking at some unusual tools to reflate the dollar and kickstart the economy, and using two trillion of platinum coins may not be so far fetched.

London platinum/palladium 1400 fix – Aug 8

FIX PREV FIX PLATINUM 1725.00 (1716.00) dlrs PALLADIUM 733.00 ( 730.00) dlrs per troy ounce

Platina Resources Limited (ASX:PGM) received full assay results from Owendale platinum project

Platina Resources Limited (ASX:PGM) is pleased to confirm the receipt of all assay results from its recently completed 4,591 metre RC drilling program at the Owendale Platinum Project, New South Wales. The Owendale Platinum Project is a 100% wholly owned project, which covers the 30 square kilometre Owendale Igneous Complex (OIC). Approximately one-third of the total area of the OIC contains ultramafic rocks that are overlain by a 40 metre thick weathered laterite profile. Drilling by the Company has focused on this laterite profile, where significant enrichment in platinum (predominantly as the alloy isoferroplatinum) has occurred.

Owendale platinum project announces results from drilling program

Platina Resources Limited has received of all assay results from its recently completed 4,591 metre RC drilling program at the Owendale Platinum Project, New South Wales.

Recapitalisation to support recovery of Zimbabwe's mining

Research and Markets reports that after 11 years of decline, the Zimbabwean economy is recovering, supported by an increase in production output of the country's mining sector. Mining and manufacturing companies in Zimbabwe are, however, expected to continue to struggle to raise funds to start or expand operations during the short term.

World's top miners worry most about greater government control

Dow Jones reports resource nationalism is the top business risk for the top 30 global miners, while supply capacity constraints ranging from skills shortage to infrastructure bottlenecks continue to dominate the top ten list, according to an annual survey by consultants Ernst & Young. Resource nationalism jumped to the top of the list this year from fourth in 2010 after 25 countries announced their intentions to increase their take of the mining industry's profits and others contemplate outright nationalization. Fraud, bribery and corruption sneaked onto the list of top concerns for the first time as a number of countries introduce or tighten rules for executives operating in countries that rank high on corruption indices.

Strike to impact on Northam Platinum FY earnings

JSE-listed Northam Platinum said on Friday that the six-week strike in the first half its 2011 financial year would result in lower earnings.

Palladium plunges on concerns over global recovery

Bloomberg reports palladium and platinum fell today as amid concerns that the global economic recovery may stall.

Platinum miner Stillwater's profit misses, stock slide continues

Platinum and palladium producer Stillwater Mining Co's quarterly profit almost tripled, but the results fell short of Wall Street expectations and the company's stock slipped. Analysts said investors are concerned about Stillwater's plans to diversify by buying Canadian gold and copper miner Peregrine Metals. Since the $450 million deal was announced last month, Stillwater's stock has fallen 37 percent.