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Lonmin Plans to Cut 21% of Workforce in South Africa

The Guardian reported that South African focused platinum producer Lonmin (LSE:LMI) expects to cut roughly 21% of jobs at its South African operations. The cuts come "as part of a drive to increase profits" following this year's protracted strikes, according to the Guardian.

Struggle Not Over Yet for Lonmin, Impala Platinum, AngloPlats, Analysts Say

An article from Mineweb suggested that South African focused platinum producers Anglo American Platinum (LSE:AAL), Impala Platinum (JSE:IMP) and Lonmin (LSE:LMI) are not out of the woods yet in terms of recovering from ongoing strikes earlier this year in South Africa.

Sudbury Platinum Completes Purchase of CaNickel’s Aer-Kidd

Sudbury Platinum Corporation (SPC) and Transition Metals Corp. have completed their purchase of 100% interest in the Aer-Kidd project from CaNickel Mining (TSX:CML). The transaction was completed for a cash payment of $1.25 million.

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Market News

PGM Producers Getting Serious about Mechanization, Ukwazi

In an article from mining weekly, Ilan Solomons spoke with midtier mining consultancy Ukwazi Group director Hugo Tukker, who said that PGM producers who formerly opted for conventional mining methods that created thousands of jobs in South Africa are now looking to mechanize their mines.

New Zealand Could Be a New Hot Spot for Platinum Exploration reported that in light of South African strikes and Russian sanctions, the platinum sector is looking for new areas of exploration, and New Zealand could be one of them. Canada's Coronado Resources (TSXV:CRD) has secured five exploration licenses in the country.

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