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Company News

Platinum Group Metals Files NI 43-101 Technical Report for South African Projects

Platinum Group Metals Ltd. (TSX:PTM,NYSEMKT:PLG) announced that it has filed the NI 43-101 technical report associated with its June 12, 2014 announcement regarding an increase in the estimated inferred mineral resource at its Waterberg joint venture and adjacent Waterberg Extension, both located in South Africa.

Major Zimplats Platinum Mine Collapses in Zimbabwe

All Africa reported on Monday that Zimplats CEO, Alex Mhembere, confirmed the collapse of a major underground mine in the country. The CEO stated that the mine collapsed because of rising deterioration of ground conditions, according to All Africa.

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Market News

Palladium Rising, Platinum Likely Won’t Be Left Behind

An article from Investing.com noted that patinum prices have seen only modest increases in relation to palladium. However, the white metal still has strong fundamentals, according to Investing.com.

Platinum Almost Hits 13 Year High

Investing.com 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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