Norilsk Nickel has posted FY 2008 net loss of $555 mln
Russian mining giant, Norilsk Nickel declared that it has posted a FY 2008 Net Loss of $555 million under IFRS. For full story, click here
Archive for May, 2009
Anglo Platinum has cut mine price by 28% on slowdown
Anglo Platinum Ltd., the world’s leading producer of the metal, cut the price of a stake in a South African mine by 28 percent after commodity prices plunged. For full story, click here
Platinum Underwriters closed at $29.46
Platinum Underwriters closed yesterday at $29.46. So far the stock has hit a 52-week low of $21.38 and 52-week high of $38.76. Platinum Underwriters stock has been showing support around 28.24 and resistance in the 30.50 range. For full story, click here
South African Platinum Mine was hit by stoppage after death
Some 3,000 workers at a South African platinum mine owned jointly by African Rainbow Minerals and Anglo Platinum, boycotted work on Thursday to protest over a colleague’s death. For full story, click here
Aquaris Platinum dipped 2.53 rand
Aquarius Platinum Ltd. dipped 2.53 rand, or 7.4 percent, to 31.72 rand, bringing its dip in the last four days to 19 percent. The fourth-biggest platinum producer in the world last year was cut to “underweight” from “neutral” at JPMorgan Chase & Co. For full story, click here
Anglo Platinum slashed its price of Lebowa mine stake sale to anooraq
Anglo Platinum Ltd., the world’s leading platinum producer announced that it has slashed the price of the 51 percent stake in Lebowa Platinum Mines Ltd. which it plans to sell to Anooraq Resources Corp. For full story, click here
Platinum futures dipped on signs metal demand to remain slack
Platinum futures dipped in New York on speculation that demand for the metals will remain slack as a recovery in the global economy will be subdued. For full story, click here
Eastern Platinum first-quartile net profit $3.2 mln Vs $19.5 mln
Eastern Platinum declared that it has recorded a attributable to equity shareholders of the Company of $3,164,000 compared to $19,476,000 in the first quarter of 2008. For full story, click here
Platinum has moved progressively lower in overseas market
Platinum has moved progressively lower in the overseas markets, but really hit the wall just after New York opened, dipping $20 in an hour before going flat for the rest of the day and ending at $1115, down $32. Overnight, platinum has edged higher. For full story, click here
Lonmin warned that there will be no platinum rebound before 2011/12
There would be no platinum price rebound before 2011/2012, a defensive Lonmin CEO Ian Farmer warned on Monday as he set out to surge $457-million in a rights issue and cut rand-based gross operating costs still further in South Africa, where 6 400 jobs have already been shed and 600 more are expected to go. [...]
