Platinum Market News Directory

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.

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.