The Easter weekend brought the tabling of a new wage offer for striking South African platinum miners, and since then, talks between the miners and affected companies have resumed; however, so far, negotiations have failed to yield significant results.
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Striking at the operations of South Africa’s three major platinum miners is negatively impacting everything from the miners’ profits to local businesses. Prices, however, have thus far been largely exempt.
Reuters reported that Zimbabwe’s government is in the process of considering Impala Platinum Holdings Ltd.’s (OTCMKTS:IMPUY) proposal for the construction of a platinum refinery in the country.
Rockland Minerals Corp. (TSXV:RL) announced that it has staked 140 new mining claims that cover 15,000 hectares and adjoin the southeast part of its Quebec-based Blue Lake platinum-palladium-copper-nickel property.
Bloomberg reported that Lin Lin, a Chinese ambassador, said his country is willing to help Zimbabwe set up its first platinum refinery.
Bloomberg reported that a proposed 15-percent tax on Zimbabwe’s platinum exports is garnering heavy criticism. The tax is part of the country’s efforts to keep more industry revenue within its borders.
Mining Weekly reported that Zimbabwe, which last year gave miners two years to build a platinum refinery in the country, has shortlisted two firms interested in doing so.
Bloomberg reported that Mwana Africa plc (LSE:MWA) plans to raise money to restart a Zimbabwe-based Bindura Nickel Corp. refinery that was mothballed six years ago. The company intends to use it to refine platinum-group metals (PGMs).
NovX21 Inc. (TSXV:NOV) is a Platinum Group Metals (PGM) recovery technology company based in Quebec, Canada. The Company offers low-cost, clean technology for the recovery of PGMs using small-footprint facilities that require a low CAPEX investment.
Bloomberg reported that although Robert Mugabe, president of Zimbabwe, last year told Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY), Aquarius Platinum Ltd. (ASX:AQP,LSE:AQP) and Anglo American plc (LSE:AAL) that he would halt platinum exports if they didn’t build a refinery for the metal by 2015, Deputy Mines Minister Fred Moyo now believes that deadline may be unachievable.