Trade Precious Metals

Platinum Mining

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 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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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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Violent strike at Northam mine drags on

An unprotected labour strike at Northam Platinum’s Zondereinde mine will continue on Monday, while the National Union of Mineworkers (NUM) has denied that its members were involved in violence that interrupted operations last week. Tuesday marks a full week of a wildcat strike at Northam and the company suspended operations

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Tensions simmer in Zimbabwe as mining firms, workers differ on pay

Mineworkers in mineral-rich but struggling Zimbabwe may have to wait for a wage rise as the mining industry says it is beset with serious operational and cost challenges. Zimbabwe has significant mineral resources spanning platinum, gold, diamonds, nickel, coal and iron ore. These mineral riches, mainly concentrated along the lush

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Worker fatalities at mines have dropped

The number of mine workers killed in SA fell last year as the mining sector pledged to reach zero fatalities in the next five years. While no official figures have been released by the Department of Mineral Resources, Chamber of Mines safety and sustainability adviser Sietse van der Woude said

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Impala Platinum’s Zimplats to Take Three Years to Restart Bimha

The Zimbabwean unit of Impala Platinum Holdings Ltd. (IMP), the world’s second-biggest producer of the metal, will take three years to re-develop its largest mine after closing it due to an underground collapse. “It will take 36 months to get back to the original footprint” of the Bimha mine that

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Police and protestors clash at Ivanhoe mine in South Africa

Police charged at demonstrators near Ivanhoe Mines Ltd. (TSX:IVN)’s Platreef platinum project in South Africa, as they protested against the recently approved mine, set to become one of the world’s largest. According to Bloomberg police officers shot rubber bullets at over 100 locals, arresting three: “Ivanhoe Mines is confident that

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Canadian Platinum firms unbowed by South African labour unrest

Even as one Canadian mining company is abandoning South Africa’s troubled platinum sector, two other Canadian miners are plunging ahead with ambitious plans here. Vancouver-based Eastern Platinum Ltd. announced the sale of its South African assets to a little-known Chinese company for $225-million (U.S.) in cash, provoking surprise and skepticism

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Ivanhoe agrees to build one of the biggest platinum mines

Shares in Robert Friedland’s Ivanhoe Mines (TSE:IVN) were soaring this morning, jumping over 12% mid-morning, as South Africa’s Department of Mineral Resources gave final approval for the Canadian company to start building Platreef, one of the world’s biggest platinum mines. The African government, said Ivanhoe in a statement, issued the

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