Platinum Group Metals Mining News

South Africa replaces mining minister on eve of massive job cuts

Given that ousted minister Ramatlhodi is considered the main person that helped end a five-month strike in the country’s platinum sector last year, Zuma's decision is being questioned.

Volkswagen crashes platinum price

World's largest automaker would actually need to buy more platinum to scrub emissions, but for now investors believe the scandal will hurt the whole sector.

Glencore drops to lowest ever on China-triggered mining stocks massacre

Worries over China's growth and its impact on commodity prices prompted broker downgrades for some of the industry’s biggest names.

This is the scariest mining chart you'll see today

We're only halfway into mining bear market says new report.

Atlatsa announces a restructure plan for Bokoni Platinum Mine

Atlatsa Resources Corporation ("Atlatsa" or the "Company") (TSX: ATL; JSE: ATL) advises that it, together with its joint venture partner, Anglo American Platinum Limited, has determined to implement a restructure plan at Bokoni Platinum Mine Proprietary Limited ("Bokoni Mine").

Wellgreen Platinum's open pit and underground mine plan

The company filed a preliminary economic assessment in the spring.

Sibanye expects to generate up to 60% of power needs from new coal project

The move aims to reduce the gold producer's dependence on unreliable electricity supply from state-run utility Eskom Holdings.

Anglo American completes sale of Chile copper mines

The announcement comes only days after Anglo announced a $330m deal to sell lossmaking South African platinum mines to Sibanye Gold.

Anglo sells platinum mines in S. Africa to Sibanye for $330m

The deal involves an upfront payment of 1.5 billion rand, with a minimum deferred payment of 3 billion rand, equal to 35% of cash flow generated by the operation.

Done deal? Amplats said to have sold platinum mines to Sibanye for $100M

The companies are expected to make an official announcement on Wednesday.

SA platinum cuts to hurt global output over next two years

Supply for the year, however, is expected to increase by 9% to 7.91 million ounces, owing to the recovery in the country’s output following strikes in 2014, as well as increased platinum recycling.

World's top 5 miners lose $540 BILLION market worth

CHART: The commodity slump has slashed major miners' market valuations to 60–88% below 2011 highs.

Sibanye confirms talks with Anglo over platinum mines for sale

This the first time in over 15 months that Sibanye officially confirms its interest in Amplats’ Rustenburg assets.

Jim Rogers: Commodity bull market hasn't gone away

Commodity investing legend says the Chinese market is on its way to "finding a good bottom."

Stillwater plunges as palladium price is decimated

Palladium price drops 8% to five year low, crushing shares in only US PGM miner.

CHART: Stop panicking about China and mining

We're not in 2008 – plotting global economic growth against commodity prices shows metals and mining sell-off is disconnected from realities on the ground.

Canadian mining stocks outperform metals prices

Canadian junior and mid-tier mining companies also raised 62% more capital in the second quarter than in 2014.

Anglo American sells copper mines in Chile to UK investment firm

The price for the two assets could rise to $500m from $200m, depending on an eventual recovery of copper prices and the execution of an expansion plan for the Mantoverde mine.

Stillwater lays off 119 workers

In the last year, spot platinum prices have slumped by almost a third.

Zimbabwe platinum export tax shelved for now

The country had introduced the levy on raw platinum exports in January, aiming to encourage local processing of the metal.

British investment fund to buy Anglo’s mines in Chile

According to local newspaper El Mercurio, the unnamed fund is buying Anglo's Mantoverde and Mantos Blancos copper mines.

Jubilee Platinum secures $5.03 million for tailings project

Estimated production of 42,000 ounces of PGMs in concentrate per annum.

Platinum price: New round of industrial action

Amid worst slump in over six years, ruling party of South Africa calls shaft closures and layoffs "unpatriotic" as unions gear up for another brutal fight.

Anglo American to axe 53,000 jobs, put 15 assets up for sale

“It is a pretty tough market,” said Chief Executive Mark Cutifani, “and in all likelihood the next six months are going to be even tougher.”

Anglo American to write down up to $4bn on weak commodity prices

This would be second multi-billion dollar impairment charge Anglo takes this year on its coal and iron ore assets.