Platinum Group Metals Mining News

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.

Glencore responsible for extension of coal strike in S. Africa — union

According to the National Union of Mineworkers (NUM), the Swiss-based company is the one “holding the whole process to ransom".

Mining stocks surge as end of commodity rout called

Morgan Stanley sees a "sharp reversal" in commodities with prices rising nearly 20% by 2017 making mining stocks "historically attractive".

Even top juniors are running out of money

New report on top 100 junior mining companies says "waiting it out no longer a viable strategy"

Northam Platinum finalizes Everest asset acquisition

Northam Platinum has finalized the R450 million (Can$43 million) acquisition of Everest Mining assets now that it has received the approval of South Africa's Department of Mineral Resources. Northam's CEO Paul Dunne lauded the deal. […]

Platinum price falls to 7-year low

Platinum price drop below $900 not good news for gold price either.

Swiss gold rigging probe won't have price impact

The Swiss competition commission is investigating seven large banks for manipulating precious metals prices.