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Company News

Anglo American’s Platinum Output Falls by 40 Percent

Reuters reported on Thursday that Anglo American PLC (LSE:AAL) saw its platinum production drop by 40 percent this quarter following a five month strike at its South African mines. The drop somewhat stole the spotlight from higher iron ore and copper production from the miner, according to Reuters.

Stillwater Mining Reports Mined Production and Recycling Results for Q2

Stillwater Mining Company (NYSE:SWC,TSX:SWC.U) reported its second quarter 2014 platinum group metals production from its Montana mines and recycling activities. Production of palladium and platinum from Stillwater's Montana mine operations amounted to126,400 ounces in the second quarter of 2014, compared with total mine production of 131,500 in the same period of 2013.

Duncastle Gold Announces Private Placement, Focuses on Wellgreen Area

Duncastle Gold Corp. (DUN:TSX.V) intends to raise up to $500,000 in a non-brokered private placement to fund the acquisition and exploration of its highly prospective PGM-Ni-Cu projects in the Kluane Ultramafic Belt of southwest Yukon, including its flagship Catalyst project which adjoins Wellgreen Platinum’s Wellgreen project on three sides.

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Market News

Platinum Almost Hits 13 Year High reported today that platinum prices drew close to a 13 year high today, gaining 0.27 percent to trade at $1493.75.

Platinum and Palladium Reach Highs This Week on U.S. Car Sales, News of New Strike

The Wall Street Journal reported this week that platinum and palladium prices reached ten month and two week highs respectively this week as the U.S. posted higher than expected automobile sales and news of a possible new mining strike in South Africa following the end of the long running strike by the Association of Mineworkers and Construction Union.

South Africa Miners Return to Work

Reuters reported that workers at South African platinum mines owned by Anglo American Platinum (LSE:AAL), Impala Platinum (JSE:IMP) and Lonmin (LSE:LMI) cheered as they returned to work this week following the end of a five month strike. As Reuters wrote, the strike has so far cost the companies an estimated over $1 billion in revenues.

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