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PolyMet Mining Releases Q2 Financial Results

PolyMet Mining Releases Q2 Financial Results

PolyMet Mining Corp. (TSX:POM,NYSE MKT:PLM) reported its financial results for the second quarter and first half of 2014. The company owns a 100 percent interest in the NorthMet copper-nickel-precious metals ore-body and the nearby Erie Plant, both located in Minnesota.

Wellgreen Platinum Increases Platinum Recoveries by 35% for Wellgreen Project

Wellgreen Platinum Ltd. (TSXV:WG,OTCQX:WGPLF) announced results from metallurgical testwork at its Wellgreen project located in Canada's Yukon. The results are a second major milestone for Wellgreen and the completion of an updated preliminary economic assessment (PEA) for the project. The company is fully funded for its PEA and for the initiation of pre-feasibility level studies.

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.

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Market News

Future of Platinum Uncertain, Analysts Say

In an article for the Mail and Guardian, Lisa Steyn notes varying opinions from mining companies and analysts as to the future of the platinum market.

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.

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