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Platinum Stocks

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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Anglo Said to Shortlist 10 Possible Buyers for Union Mine

Anglo American Plc (AAL), seeking to shrink its platinum business in South Africa, shortlisted about 10 potential buyers for its Union mine and aims to sell it for about $300 million in the first half of next year, according to people familiar with the plans. Anglo American Platinum Ltd. (AMS),

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Anglo American Platinum Mine sales seen boosting metal’s price

Plans by the world’s largest platinum-mining company to sell its loss-making operations could be just what the industry needs. The biggest producers, including Anglo American Platinum Ltd. (AMS), have been using profitable assets to subsidize marginal shafts for too long, boosting output and depressing metal prices, said Des Kilalea, an

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Africa’s biggest fund manager favors Platinum equities over Gold

Africa’s biggest fund manager favors South African platinum equities over those of gold, betting against the price performance of the metals and the share performance of the companies that mine them.. The Pretoria, South Africa-based Public Investment Corp., which manages the equivalent of $1.5 billion, is the biggest or second-largest

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Anglo American plans platinum mine sales

Global miner Anglo American Plc has put some of its platinum mines in South Africa up for sale in a move by Chief Executive Mark Cutifani to dispose of under performing assets, Britain’s Sunday Times reported. The company has lined up South African investment bank RMB to run the auction,

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Platinum Group Metals Climb on Supply Fears

Platinum group metals climbed on Monday on supply fears from strikes in major producer South Africa, while gold continued to struggle below $1,300 an ounce. Platinum rose 0.5 percent to $1,472.35 an ounce, not too far from an 8-1/2 month high hit last week. Palladium also gained 0.5 percent to

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Gold Slips on Economic Optimism; Platinum Adds to Gains

Gold extended losses to a third straight session on Monday as U.S. data pointed to strong economic growth, while platinum group metals continued to add to gains on supply worries from South African labor strikes. Spot gold slipped 0.08 percent to $1,292.01 an ounce by 0030 GMT, while platinum gained

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Platinum, Palladium Rise on Supply Fears; Gold Eases

Platinum and palladium each rose 1 percent on Tuesday on the back of lingering supply worries as South Africa sent more police to the strike-hit platinum belt to protect miners after four were killed returning to work over the weekend. Gold prices, meanwhile, eased 0.1 percent as investors digested news

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Platinum and Palladium Dive as Strike Turns Violent

The price of platinum slid and sister metal palladium dropped back below the $800 an ounce level on Monday after a deal between the world’s top producers and workers who have been on strike for 13 weeks drew nearer. On the Comex division of the New York Mercantile Exchange, platinum

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Platinum Prices Vulnerable to Further Losses

Platinum prices could be vulnerable to further losses in the near-term, although metals analysts remain bullish on the white metal in the long-term. Since setting a high on April 14 of $1,471.50 an ounce, basis the New York Mercantile Exchange July contract, platinum prices are down 5%. As of 11:05

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Platinum and Palladium Prices Fall

The price of platinum lost more than $20 an ounce and sister metal palladium dropped 3% on Monday despite an ongoing strike at three top producers and strong investor interest. On the Comex division of the New York Mercantile Exchange, platinum futures for July delivery – the most active contract

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Gold Futures Fall but Platinum Futures Gain

Gold futures have fallen to a seven-week low as signs of stronger US economic activity and subsiding tensions in Eastern Europe sap investor interest in the haven asset. Gold for June delivery, the most active contract, on Tuesday fell $US3.80, or 0.3 per cent, to $US1,280 a troy ounce on

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5 Reasons For Platinum Price to be High

A combination of the following factors should tell you that the platinum price should trade much higher than it is today: A two-month-old strike at South Africa’s PGM mines that shows no signs of ending. A stand-off between the West and Russia, which together with South Africa control more than

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