JPMorgan Chase & Co. cut its recommendation on Anglo
JPMorgan Chase & Co. cut its recommendation on the world’s biggest platinum company to “underweight” from “neutral.”. For full story, click here
Archive for January, 2009
Falls expected in platinum
Norilsk Nickel says nickel, platinum and palladium output to fall this year from previously planned levels. Plans to cut copper output next year only, while further falls expected in platinum and palladium. For full story, click here
Impala’s open pit mining operations
Impala Platinum’s Zimbabwe unit Zimplats Holdings Ltd says ceased open pit mining. For full story, click here
Platinum rebounds despite poor fundamentals
Platinum rebounded early in ’09, and came back into the four digits, the metal’s highest value in over 12 weeks. In 2008 the metal went on a wild ride, hitting a peak of $2,290 per ounce, and then came crashing down to a three digit value. Despite the metal starting the year on a good note, RBC capital markets has cut its platinum price forecast for the next two years.
Real platinum expected to average $1,343
Real platinum prices (in 2007 dollars) are expected to average $1,343 an ounce between 2008 and 2017, the forecast period. For full story, click here
Zimplats Holdings ceased open pit mining
Impala Platinum’s Zimbabwe unit Zimplats Holdings Ltd says ceased open pit mining. For full story, click here
Stillwater Mining Names New Director
The company announced that the Board of Directors has elected Michael E. McGuire, Jr., 43, as a director of the Company. For full story, click here
Platinum has plunged 46 percent in 2008
Platinum has plunged 46 percent , while palladium, also used in pollution control devices for cars, is down 52 percent. The metals are mined together. For full story, click here
Zimplats seeks funds to complete project
Zimplats said it was making frantic efforts to secure funds for the finalisation of the Ngezi Phase One expansion project, which has a bearing on the company’s profitability. For full story, click here
