Platinum Group Metals Mining News

Rhodium price roars to six-year high

Precious metal is up 114% or $880 an ounce in 2017 as above-ground stocks are "bled dry".

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David Morgan uncovers supply and demand fundamentals on mining, cost of production, utility, and ratios in Proven and Probable interview.

Sibanye scraps planned closure of loss-making South African mines

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.

CHARTS: Mining's 2017 rally forecast to fizzle out

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.

South Africa mining lobby rejects talks with ministry over charter

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.

Sibanye-Stillwater Blitz project begins production ahead of schedule

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%.

400 workers laid off as Bokoni prepares for closure

Toronto-based Atlatsa Resources (TSXV:ATL) has made good on its stated intention to shut its Bokoni platinum mine in Limpopo province, South Africa.

South Africa’s mining industry fortunes improving, but challenges remain — PwC

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.

Johnson Matthey to invest 200m pounds in battery material technology

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.

Indian billionaire Agarwal to be Anglo American’s top shareholder

He intends to buy as much as 1.5 billion pounds (about$2 billion) worth of additional Anglo American shares.

Palladium price consensus forecasts point to end of the rally

Speculative frenzy not entirely supported by fundamentals.

About 2,500 jobs on the line at Impala Platinum’s Rustenburg operations

The miner warned further reductions could be in store at those operations, which employ 31,000 people.

S.Africa mining minister will not say contested charter is law – Chamber of Mines

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's chamber of mines says sector "in crisis"

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.

South Africa's manufacturing, mining output disappoint as economy limps

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.

Platinum price pressured as market moves into oversupply

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.

Sibanye halts divvy for first time as it swings to loss

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.

Zimbabwe tightens screws on miners' export earnings in forex crunch

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.

Lonmin to sell surplus platinum capacity to raise cash

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.

Zimplats says Zimbabwe asks court to enforce mining land seizure

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.

Luxembourg shoots for the stars with fresh space mining deal

The country's ultimate objective is to have its own space mining agency by the end of the year.

Toronto firm closing South African platinum mine

The Bokoni mine, a joint venture between Atlatsa and Anglo Platinum, produces around 150,000 ounces of platinum group metals per year.

Amplats warns H1 profits to fall on impairments, rand

South Africa's Anglo American Platinum (Amplats) expects half-year profits to fall by as much as 67 percent due to a stronger rand, lower sales and post-tax impairments, the company said on Tuesday.

South Africa halts new black ownership rules for mines

The suspension follows a pending a judgement in an urgent interdict application by the country's Chamber of Mines.

Luxembourg becomes first European country to pass space mining law

The bill, approved by a vast majority, defines the conditions companies must fulfill to get a licence for launching a space mining mission.