Platinum Group Metals Mining News

Some think not too soon for Anglo obituary

Anglo-American perceived as "the most likely of the diversified mining majors to go bust" even if it "goes down fighting".

In January this guy launches a hedge fund to invest in metals

Orion's Oskar Lewnowski: "For a long time, metals were driven by financial flows... With those guys out, we are back to fundamentals."

Anglo American to cut 85,000 jobs, dividend and assets in sweeping restructuring

The job cuts, part of a major overhaul, are far greater than the 53,000 positions the miner said it would cut in July.

Anglo American set to announce dividend cut next week

One of the miner’s worst kept secret may be revealed as soon as Tuesday.

Obama boosts asteroid mining, signs law granting rights to own space riches

While the law lets citizens mine, sell and own riches mined in space, it does not grant sovereignty, ownership, exclusive rights or jurisdiction over any celestial body.

Platinum, palladium prices break fall

Platinum remains at record discount to gold.

Anglo American shares close at lowest in 16 years on HSBC note

HSBC downgraded the company to 'reduce' from 'hold' and highlighted that Anglo's precarious cash flow situation may force it to cancel its dividend.

Lonmin investors approve key $407m rights issue

The move will allow the platinum miner to restructure its debt and, it hopes, weather an ongoing decline of platinum prices.

Platinum, palladium prices tank as investors flee

CHARTS: South Africans can't liquidate ETF holdings fast enough, sending platinum to fresh 7-year low and palladium down 20% within only two weeks.

Anglo reshuffles top management team, waves iron ore boss good-bye

With the changes, Anglo’s chief Mark Cutifani is trying to turn around the company’s fortunes following years during which it has underperformed its peers.

US Congress grants citizens rights to own asteroid-mined riches

Until now, there was no legislature clarifying issues such as whether resources mined from celestial bodies could be sold on Earth.

INFOGRAPHIC: The industrial internet, and how it's revolutionizing mining

Learn in today's infographic how the "Industrial Internet", or the convergence of the global industrial sector with big data and the internet of things, is ushering in a new age of efficiency in mining.

Lonmin sees salvation, launches $407m rights issue at only 1 pence per share

The company has priced its $407 million share sale at a discount of 94% as it fights for survival after a near-collapse in the commodity's price.

Platinum mines may run short of water in 2016

Consulting engineering company, SRK, raised the risk that South Africa's platinum firms may start to run short of water next year if the country's drought persisted.

Wellgreen Platinum signs C$11.4 million financing package led by Resource Capital Fund VI L.P.

With these agreements in place, the Company has initiated the second phase of its 2015 exploration drill program at Wellgreen and expects to undertake a comprehensive metallurgical testing program starting in Q1 2016.

Lonmin may shut down if shares sale flunks

The radical decision would make of the platinum producer the biggest casualty of the ongoing commodity rout that is hurting miners worldwide.

Lonmin warns of $2bn write-down, 6,000 job cuts

The world’s third-largest platinum producer is also planning layoffs, cutting capex and lowering unit costs.

China's new 5-year plan brilliant news for mining

At fifth plenum Beijing recommits to high economic growth rates, faster urbanization and indicates it's willing to step in to make it happen.

Mining industry value drops below one trillion dollars

In 2011, during the peak of the so-called “mining boom”, the sector was worth nearly US$2.5 trillion.

Platinum price back to triple digits

This week Volkswagen stopped selling diesel vehicles in Europe while top producer Anglo American announced a 14% surge in output.

The most bullish mining chart you'll see all day

Commodity Sentiment Index shows it's always coldest before the dawn.

The $2 trillion mining value chain at a glance

All you need to know about mining and metals and the role the sector plays in key industries of the global economy in one simple table.

Platinum price: VW taketh away, Toyota giveth

Platinum price up 14% in two weeks gets further boost as Toyota unveils big push into fuel cell cars where PGM loadings are typically 7 times higher.

S. Africa's main coal union accepts wage offer, ends strike

The National Union of Mineworkers (NUM) and the Chamber of Mines, which has been negotiating on behalf of the country’s main coal producers, will sign the agreement later today.

CHART: Mining tide is turning

After the best week for commodity prices in more than three years, sentiment towards metals and mining may finally be turning.