Speculative frenzy not entirely supported by fundamentals.
Platinum Mining News
The miner warned further reductions could be in store at those operations, which employ 31,000 people.
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.
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.
The National Union of Metalworkers of South Africa (NUMSA) has demanded Glencore raise coal mining wages by 15 percent.
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.
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.
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.
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.
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.
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.
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South Africa's mineral resources department has withdrawn its plan to impose a moratorium suspending the issuance of new mining and prospecting rights, which had drawn a court challenge by an industry group.
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.
The country's ultimate objective is to have its own space mining agency by the end of the year.
Palladium is another element with great importance to the modern economy, but it’s often overshadowed by the other more famous and expensive precious metals.
The Bokoni mine, a joint venture between Atlatsa and Anglo Platinum, produces around 150,000 ounces of platinum group metals per year.
South Africa intends to suspend the granting of applications for prospecting and mining rights as well as any renewals pending a court case to review new mining laws, the Mineral Resources Minister Mosebenzi Zwane said on Thursday.
South Africa's Anglo American Platinum (Amplats) expects half-year profits to fall by as much as 67 percent due to a stronger rand, lower sales and post-tax impairments, the company said on Tuesday.
The suspension follows a pending a judgement in an urgent interdict application by the country's Chamber of Mines.
The bill, approved by a vast majority, defines the conditions companies must fulfill to get a licence for launching a space mining mission.
Study shows Q2 2017 new private capital for natural resources investment dropped to lowest since 2011 and not a single mining fund were able to raise money.
Combined worth of 50 largest mining companies grow to $768 billion during first half of 2017, but a few big names drop down rankings.
Jandaga Mines is taking advantage of investors' concerns over buying into South African platinum businesses.
South Africa's Chamber of Mines has applied to a high court for an interdict to prevent the implementation of a new charter that increases the minimum threshold for black ownership of mining companies