Search Results for "Africa"

Platinum Miners Resume Talks with AMCU, South Africa

Reuters reported today that talks are set to continue between platinum producers Anglo American Platinum (JSE:AMS), Impala Platinum (JSE:IMP), Lonmin (LSE:LMI,JSE:LON) and South Africa’s AMCU union. The groups plan to meet this morning in an attempt to resolve a three month impasse between workers and platinum mining companies in the African nation, according to Reuters.

Platinum Deficit to Continue for Years

Bloomberg reported today that Morgan Stanley predicts the worldwide platinum deficit, augmented by over three month long miner strikes in South Africa, could last four years before it gets corrected.

Platinum Prices Take a Dive

Frik Els of Mining.com reported that platinum prices fell by more than $20 per ounce on Monday while palladium prices also declined. According to mining, prices for the metals are not reacting as expected to supply squeezes from Russia and South Africa, especially in light of revived demand from the European automobile industry.

AMCU Ready for Six More Months of Striking

Mining Weekly reported yesterday that South Africa’s Association of Mineworkers and Construction Union (AMCU) is prepared to keep striking for another six months at the operations of major miners Anglo American Platinum Ltd. (OTCMKTS:AGPPY), Lonmin plc (LSE:LMI) and Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY).