Platinum Group Metals Mining News
Value of South Africa's mining industry forecast to contract 11.4% in 2016, followed by years of close to zero growth according to new report.
The main challenge for mining near-Earth celestial bodies is neither technology nor cost, but simply “convincing people it is realistic,” says Dr. Phil Metzger.
Anglo American Platinum forced to stockpile concentrate and shut down smelter in South Africa responsible for one fifth of its refined platinum output.
PGMs down nearly 10% and manganese production down 24%.
OSIRIS-REx will collect samples from an asteroid and return them to Earth, in what it could be a pivotal step for firms currently planning to tap into the space mining business.
South African labour union that led a bruising 20-week strike in 2014 declares dispute with top producers over 50% wage hike demands.
South Africa's Public Investment Corporation (PIC), which owns 14.5% of Anglo, believes the mining giant may not realize the full value of its assets.
The miner said it was is currently assessing the operational and financial situation of its platinum division, which may require "remedial action".
And one that's ultra-bearish.
Large scale futures speculators and PGM investors in physically-backed exchange traded funds are taking wildly different views of the outlook for the metals.
South Africa's state pension fund is pushing Anglo to spin off all its assets in the country, including the miner's coveted platinum mines.
None of the foreign-owned platinum miners operating in the world's number three producer of the precious metal is listed on the Zimbabwe Stock Exchange.
PGM prices plunge after data show country's mines responsible for 70% of global production are humming and local currency revenues are hitting records.
The mission's goal is to map a target asteroid, looking for deposits of water and other resources with visible and infrared cameras.
CHART: The gold price may grab headlines, but coal's rally comes as a shocker – thermal prices are up 22% in 2016 and coking coal's back in triple digits.
Platinum now outperforming gold price in 2016 and palladium price soars 21% in just one month.
Vedanta Resources’ chairman Anil Agarwal allegedly approached Anglo in several opportunities earlier this year to discuss potential tie-ups.
The miner said its turnaround plan was “on track” as it slashed debt and beat earnings forecasts in the first half of the year.
Shares plunged after miner revealed that output fell almost across the board in the April – June period.
In what seems like an annual event, platinum companies in South Africa are bracing for what could be another year of labour unrest.
Gold's nearly $100 jump early on and copper's 4.5% meltdown split mining investors' Brexit fortunes.
Combined these mining and metal giants are worth $700 billion with operations in every corner of the world.
New report shows China extracted nearly one fifth of its gold reserves last year – the global gold production to reserve ratio is only 3.8%.
A lithium miner joins top ranks of listed mining firms for the first time as the price of the battery ingredient skyrockets.