Palladium Top Stories

Australian miners form Broken Hill Alliance

Impact Minerals, Castillo Copper and Squadron Resources are joining forces.

Deficit should keep palladium price on the boil

Thefts of catalytic converters because of the metal jumped in…

Latest Stories

New $2.6 billion market for platinum and palladium

According to a new report by GIA the global market for heavy-duty diesel (HDD) catalysts is forecast to reach $2.6 billion by the year 2017, spurred by rigorous emission control regulations for heavy-duty on-road and off-road vehicles across the world. Catalysts with a high palladium content are fast replacing platinum catalysts in gasoline exhaust systems, while demand for platinum increased due to its increasing usage in catalysts for diesel exhaust systems.

Royal Bafokeng plans $1.4 billion platinum expansion

Bloomberg reports the proposed expansion by South Africa's Royal Bafokeng Platinum follows an increase in demand for platinum which has gained 19% in the past 12 months to $1,818/oz. Steve Phiri, RB Platinum CEO said demand is likely to exceed supply in the next three years, while a shortage of palladium, typically mined along with platinum, may rise to 1 million ounces in 2014. South Africa produces more than three-quarters of global supply.

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North American Palladium Announces Second Quarter 2011 Results

North American Palladium announced financial results and operational updates for the second quarter ended June 30, 2011. Highlights were production of 46,971 ounces of payable palladium at a cash cost1 of US$335 per ounce; realized palladium price of US$751 per ounce, giving an operating margin of US$416 per ounce, and total operating margin of US$20 million for the palladium produced; revenue of $51.4 million; and adjusted EBITDA of $15.4 million.

Mugabe threatens western firms in Heroes Day speech

As the country marked Heroes Day, Robert Mugabe used the occasion to make fresh threats to punish foreign owned companies from Western countries that have imposed targeted sanctions on him and his key ZANU PF officials. The US and European Union slapped the sanctions on Mugabe and his cronies because of human rights abuses.

World’s top miners worry most about greater government control

Dow Jones reports resource nationalism is the top business risk for the top 30 global miners, while supply capacity constraints ranging from skills shortage to infrastructure bottlenecks continue to dominate the top ten list, according to an annual survey by consultants Ernst & Young. Resource nationalism jumped to the top of the list this year from fourth in 2010 after 25 countries announced their intentions to increase their take of the mining industry's profits and others contemplate outright nationalization. Fraud, bribery and corruption sneaked onto the list of top concerns for the first time as a number of countries introduce or tighten rules for executives operating in countries that rank high on corruption indices.

Platinum miner Stillwater’s profit misses, stock slide continues

Platinum and palladium producer Stillwater Mining Co's quarterly profit almost tripled, but the results fell short of Wall Street expectations and the company's stock slipped. Analysts said investors are concerned about Stillwater's plans to diversify by buying Canadian gold and copper miner Peregrine Metals. Since the $450 million deal was announced last month, Stillwater's stock has fallen 37 percent.

South Africa mine nationalization ‘closest since end of apartheid’

Businessweek quotes a confidential report prepared for South Africa's mining CEOs as saying South Africa’s ruling party is closer to some form of nationalization than at any other time since the end of apartheid. A government takeover of mines could choke investments in a country with metal and mineral reserves estimated at 2.5 trillion and lead to a collapse of the currency, the rand. Firebrand Julius Malema (pictured), the leader of the youth wing of the ruling African National Congress which often acts as kingmaker in the country’s politics, is spearheading the campaign to seize mines, farms and banks. Malema is never far from headlines in the country with racially charged comments but now an anti-corruption police unit is probing a trust fund owned by him allegedly being used to funnel payments in exchange for securing government tenders.

Anglo American CEO interviewed on half-year results

Anglo American, one of the world's largest miners, today reported strong first half growth with operating profit ahead 40% to $6bn. Chief Executive Cynthia Carroll said that investments made during the downturn would stand them in good stead in the near-term future. "We believe that the fundamentals for the mining industry are very, very strong, and therefore the longer-term outlook is extremely positive." Image by shizhao