Even while gold, silver, and platinum steal most of the headlines, there are stealth bull markets advancing in other precious metals. Take palladium for instance. Indeed, while platinum may have the prestige, palladium has the profits.
Platinum Group Metals Mining News
South Africa's Impala Platinum Holdings (Implats) said on Thursday that its headline earnings for the 2011 financial year rose 41% as it reaped the benefit of rising prices. The world's second-largest producer of the metal also said Thursday that it expects output in 2012 to be steady or slightly lower on the year and that costs will likely rise. Implats accounts for close to 30% of global supply of the precious metal sometimes referred to as white gold, used in vehicle emission systems to reduce pollution and for the manufacture of jewellery. Prices for platinum climbed throughout the year from just over US$1,500 per ounce to end at about US$1,800 per ounce.
The board of Russian miner OAO Norilsk Nickel on Wednesday approved the offer to buy a part of United Co. Rusal PLC's stake in the company for about $8.75 billion. Norilsk, the world largest nickel and palladium producer.
Out of sight, out of mind seems to be the rule for many local investors when it comes to the platinum group metals. But those who do invest in this sector should hear the latest outlook. In a nutshell, the long term is great due to rising demand for cars.
TSX V-quoted Noront Resources on Tuesday published the results of a prefeasibility study into its Eagles Nest nickel-copper-platinum project in Ontario’s Ring of Fire, outlining a $734-million capital investment for a one-million ton a year mine.
The platinum miner said Monday it was still in talks with the Zimbabwean capital over a key deadline after its indigenization plan was rejected last week.
Zimbabwe's government has given foreign companies including miners and banks a 14-day ultimatum to submit plans on how they propose to transfer majority stakes to local owners or risk losing permits, state media reported on Friday. However, immediately thereafter the country's central bank governor Gideon Gono launched a scathing attack on the minister responsible for the indigenization policy saying the threats “could irreparably harm the nerve-centre of the recovering economy.” Before a new unity government in 2009 Zimbabwe economy had shrank by as much as half over the preceding decade amid hyperinflation, property seizures and civil unrest. The country is the number two platinum producer in the world and rich in gold and diamonds.
The darkening economic outlook this month has sent investors out of the palladium market in droves, but the coming months of uncertainty are likely to be more of a cooling-off period than an end to their romance with last year's star performer.
JOHANNESBURG (miningweekly.com) Wage negotiations between the National Union of Mineworkers (NUM) and the world's second-largest platinum miner Impala Platinum (Implats) broke down on Friday. NUM spokesperson Lesiba Seshoka told Mining Weekly Online that
Zimbabwe's government has given foreign firms, including mines and banks, a 14-day ultimatum to submit "acceptable" plans on how they propose to transfer majority shares to locals or risk losing permits
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 has given Kristen Stewart a $40,000 antique gold and platinum locket containing photos of them and a personal inscription in Latin.
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 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;
[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 is the most precious metal of them all. How to invest in it?
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, 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 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.
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.
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.
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
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.
In a rare development, gold prices have surpassed usually costlier platinum from the precious metal basket.