If approved, merger would create the world’s No.2 platinum producer as Lonmin is the world’s third-largest while Sibanye-Stillwater is the fourth.
Platinum Mining News
The processing plant has been under consideration since at least 2014.
Michael Rowley, president and CEO of Group Ten Metals Inc. interview with Maurice Jackson.
Implats plans to trim staff by about a third -- more than 13,000 jobs -- over two years at its Rustenburg platinum belt.
While prices remain stagnant and demand uncertain, the company is churning out more stones than at any other time in the past decade.
Under the deal, Lonmin will repay most of the loan by delivering platinum and palladium over a three year period to a subsidiary of Jiangxi Copper, China’s largest copper producer.
South African government is considering a sovereign wealth fund but is looking for a way to fund it without harming the mining industry.
South Africa's National Union of Mineworkers (NUM) signs three-year wage deal with platinum producer Northam Platinum that secures wage hikes of more than double the inflation rate for its members.
Yet, capital expenditure for the sector recovered from the lowest levels in ten years to reflect a 19% increase.
New Mining Charter seeks to reduce uncertainty and boost investment in the sector.
The transaction would create the world’s No.2 platinum producer as Lonmin is the world’s third-largest while Sibanye-Stillwater is the fourth.
In just five years, Anglo assembled marketing operations that now sell more metals than the company produces.
Although about half of South African output is estimated to be unprofitable, few companies are reducing production by a meaningful amount.
Implats is confident of having adequate cash while restructuring its operations and cutting its workforce despite reporting a wider full-year loss.
Drilling at new projects up 57% as spending on gold exploration reaches 21-year high.
Unlike US space agency NASA, Luxembourg Space Agency (LSA) will not carry out research or launches. Its purpose is to boost exploration, mining and commercial utilization of resources extracted from near earth objects.
Lonmin has been the biggest casualty in South Africa's platinum mining industry.
Some in the industry see this move as a prelude to a potentially broader deal with bigger miner Anglo American.
Platinum miner Zimplats on Friday reported a 94 percent drop in after-tax profit to $2.6 million after incurring a higher deferred tax charge.
Over the past six months, platinum’s price has continued its multi-year decline, falling below $800 – close to its lowest level in a decade.
Researchers say the alloy could save the electronics industry more than $100 million a year.
The Polokwane smelter is becoming environmentally friendlier.
Manganese X Energy now wants a taste of the cobalt market.
Advancing a nickel-copper-PGE sulphide deposits and gold in Western Australia.
Implats said on Monday that it expects its full-year loss to widen due to impairments relating to its Rustenburg assets.