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Platinum

Platinum, palladium forecasts cut on oversupply, soft demand: Reuters poll

Analysts and traders have cut their forecasts for platinum and palladium prices after they underperformed gold and silver in the first quarter, as supply of the metals remains ample in the face of lackluster demand from jewelers and carmakers. Respondents to a Reuters poll of 31 analysts and traders said

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African Thunder restarts Smokey Hills

The troubled Smokey Hills mine once owned by Platinum Australia has been restarted by African Thunder Platinum, which is owned by Canada’s Aberdeen International and Pala Investments. Macquarie Bank will soon become a shareholder in African Thunder, which will own 69.75% of the Smokey Hills mine and concentrator nestled in

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Anglo American and Atlas Copco to Test New Underground Mining Technology

The mining industry continues to push the seams of innovation. Mining company Anglo American and Swedish mining equipment manufacturer Atlas Copco have reached the proof-of-concept testing stage for a new mining technology that will improve the process of extracting ore from underground hard rock mines. The test trials are scheduled to begin

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Platinum hits 5-1/2 yr low; Gold awaits Fed meet

Platinum tumbled to a 5-1/2-year low on Tuesday as the combination of a stronger dollar, weaker gold prices and improving supply took a toll on prices. Platinum, the worst performing precious metal of the year, fell to $1,098.10 an ounce during Asian hours, its lowest since July 2009. It is

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Precious Metals ETFs: Platinum Trading Under Gold

Platinum is trading below gold bullion prices again, but the current pressure on the white metal this time around could be coming from a surge in supply. Platinum has been largely underperforming gold. For instance, the ETFS Physical Platinum Shares (NYSEArca: PPLT) fell 6.4% year-to-date and declined 23.9% over the

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Platinum deficit expected to shrink

The global platinum market is forecast to be in its smallest deficit in three years this year, with South African mines recovering from last year’s strike. The newly established World Platinum Investment Council released supply and demand data for the fourth quarter of last year as well as projections for

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Platinum could rise 18% by year-end

It’s always the quiet ones you have to watch out for—and among the metals, platinum has certainly been quiet so far this year. After a 12% price drop in 2014, that’s not surprising. But after prices last week touched their lowest levels since 2009, a rebound could be in the

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BEE group in bid to scrap R664m Lonmin deal

Platinum miner Lonmin is bracing itself for a bitter fight as members of the Bapo ba Mogale community, who live on the land it mines, go to court this week in a bid to unravel its R664m empowerment deal, pushed through three months ago. The Bapo community has been split

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Impala to Sell Mine, Cut Spend Over Five-Year Low Platinum

Impala Platinum Holdings Ltd., the world’s second-largest producer of the metal, will sell mines, close shafts and reduce capital spending as it expects prices to remain low until the second half of 2016. Spending will be cut by 3.5 billion rand ($307 million) over the next two years, the Johannesburg-based

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Impala warns of sharp fall in H1 earnings after Rustenburg strike

Impala Platinum’s first-half earnings are set to slump because of strikes at its Rustenburg mine last year, it warned. The world’s second-largest platinum producer expects headline earnings per share (HEPS) to fall 45-63 percent year-on-year owing to the drop in output triggered by the strikes compared with an uninterrupted first

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South Africa’s big platinum strike holds lessons, omens for gold

South Africa’s gold producers are gearing up for a showdown with labour that could hasten the decline of a struggling industry. With wage agreements expiring in June, the omens are bad: a lethal rivalry between unions and the precedent of a huge wage settlement in the platinum sector. Labour militancy

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Anglo American Platinum targets innovation

The CEO of Anglo American Platinum, Chris Griffith, outlined plans for the company’s push towards innovation and mechanisation at its Twickenham mining project whilst speaking at the South African Indaba mining conference. Griffith said that the company was driving towards a mechanisation programme at its Twickenham mining project being developed in

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Rolling blackouts (again) threaten South African mine output

Problems with South Africa’s main electricity provider, Eskom, are crimping the plans of major mining companies that depend on regular power provision to run their operations, an energy users group has warned. The Energy Intensive Users Group of Southern Africa said mining firms risk missing output targets due to a

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Platinum producer Lonmin keeps output target, cuts spending

South Africa’s Lonmin said on Thursday it would maintain its annual production target but cut capital expenditure in 2015 as the third-largest platinum producer battles with low metal prices. Along with its peers in South Africa, Lonmin has been battered by labour unrest over wages, rising costs and weak platinum

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Aquarius Platinum reports record output

Aquarius Platinum reported a quarter of record output from its mines and tailings operations in SA and Zimbabwe, with a welcome drop in costs boosting cash flows in a weak platinum group metal (PGM) price environment. Aquarius said on Wednesday that attributable production from its mines for the quarter to

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