Platinum Mining News

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.

Implats buys stake in South Africa platinum project with option to take control

Company will pay $30 million for a 15 percent interest in a platinum project in the northern Waterberg region and had an option to acquire a majority stake in the development.

Tensions between the U.S. and North Korea drive gold prices up

Gold prices finished higher last Friday and followed the upward trend on Monday, with December gold GCZ7, +0.67% rising to $1,283 an ounce.

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.

Lucara sells world's second-largest diamond for $53 million

London-based Graff Diamonds paid nearly $47,777 per carat

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.African miner Lonmin says licence not at risk after ministry warning

The South African mines ministry has told platinum miner Lonmin that it failed to meet some of its social and labour obligations, the producer said on Tuesday, but added it did not think its operating licence was in jeopardy.

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 NUMSA union demands 15 percent wage hike in coal sector

The National Union of Metalworkers of South Africa (NUMSA) has demanded Glencore raise coal mining wages by 15 percent.

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.

Six precious metal explorers that may hit it big this summer

Summer is the season for drilling, and with the uptick in the precious metals market since 2016, companies are finally able to have the budgets to properly explore their prospects, says Brien Lundin, editor of Gold Newsletter.

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.

Onerous procurement requirements of S. Africa’s 2017 Mining Charter to hit suppliers

While suppliers are not required to comply with the 2017 Charter, the procurement targets for Holders indirectly require them to meet such targets to remain competitive.

South Africa’s mines minister withdraws plan to suspend rights

South Africa's mineral resources department has withdrawn its plan to impose a moratorium suspending the issuance of new mining and prospecting rights, which had drawn a court challenge by an industry group.

Junior miners talk new opportunities, and challenges

While the mood at the recent Junior Indaba mining event was sombre when it came to South Africa’s policy environment, there were some interesting opportunities being mooted for minerals like lithium.