South African platinum miner Lonmin has surged its quarterly production and refinanced much of its near-term debt, in a sign that it is beginning to reap benefits from a radical restructuring programme commenced last year after demand for the precious metal plummeted. For full story, click here
Interest in platinum and palladium as a safe haven investment in tandem with gold may intensify in 2009 as uncertainty in the global economic and financial system is expected to persist into 2010. For full story, click here
The amount of metal ETF Securities holds to back its London platinum and palladium exchange-traded commodities surged by 2.4 percent and 4.4 percent respectively in the week to last Friday. For full story, click here
Shares in Lonmin, the world’s third-leading platinum producer, had surged more than 4%, or about R7, to R174 on the JSE by midday yesterday after it issued a production report indicating it was on target to produce 700000oz of platinum in the year to September. For full story, click here
Lonmin, the world’s third-largest platinum producer, is not adjusting its sales guidance for the 2009 financial year despite platinum sales for the first half of the 2009 financial year topping initial expectations. For full story, click here
Platinum Underwriters Holdings Ltd. declared that it has posted a lower first-quarter profit, hurt by a dip in premiums at casualty, and property and marine segments, but the results topped market estimates. Chief Executive Michael Price stated: The U.S. property catastrophe market continues to improve and we expect increased demand and higher pricing for the [...]
Metals consultancy GFMS stated that platinum and palladium will take little support from their fundamental drivers in 2009 as industrial demand stays weak, but a rally in gold could spark a temporary uptick in prices. For full story, click here
Impala Platinum Chief Executive David Brown has reported that it he has no plans to shut down any of the company’s operations in Zimbabwe. For full story, click here
Aquarius Platinum Ltd., the world’s fourth-biggest producer of platinum, reported on Tuesday it swung to a net profit in its third quarter to end-March as higher precious metal prices and a weaker rand outweighed lower output. For full story, click here
Impala Platinum Holdings Ltd., the world’s second- largest platinum producer, dipped 8.72 rand, or 5.1 percent, to 164, extending yesterday’s 4 percent decrease. For full story, click here
Get our independent commentary on platinum trends and companies delivered to your inbox.
