Nkwe Platinum (ASX: NKP), South Africa-focused platinum junior, has announced its Hong Kong Stock Exchange (HKEx) dual list plan. Nkwe is quoted saying: “The board of Nkwe believes that a dual listing on the HKEx would provide Nkwe with higher levels of shareholder liquidity and increased exposure to Asian capital markets and strategic partners looking to access [...]
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Wednesday, May 26, 2010
ANC Youth League president, Julius seeks nationalization of South African mines in 2012. This however, is worrying investors in Africa’s biggest economy — the world’s biggest platinum producer and the world’s number four gold producer. Malema is quoted saying: “I sit in the national executive committee… I know nationalization is on the agenda of the ANC. All [...]
Wednesday, May 26, 2010
South African platinum explorer, Wesizwe Platinum Limited (Wesizwe), has agreed to be taken over by Jinchuan Group Ltd. and China-Africa Development Fund for $878 so that it can pay for its Frischgewaagd-Ledig project in South Africa. Michael Solomon, chief executive officer of Wesizwe is quoted saying: “The agreement will provide Wesizwe with the financial muscle to enable [...]
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Tuesday, May 25, 2010
Johannesburg-listed platinum developer, Wesizwe Platinum Limited has announced that Jinchuan, China’s No 1 miner of nickel, and also platinum group metals (PGMs) including China Africa Development Fund, (CADFund) has signed a USD 877m agreement for a “total financing solution” in its Frischgewaagd-Ledig project, near the well known Sun City resort north of Pretoria. Wesizwe Platinum Chief [...]
Monday, May 24, 2010
Lonmin Plc, the world’s third-biggest platinum producer, closes again for another 25-30 days because of its smelter failure. The company operates in South Africa. Analyst Charles Kernot at Evolution Securities is quoted saying: “Lonmin’s troubled smelter has failed yet again, further undermining the company’s outlook for the rest of this year.” Click here to access the entire news
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Tuesday, May 18, 2010
Anglo Platinum (AMSJ.J), South Africa-based company and world’s No. 1 producer of platinum, is happy to announce that it is expecting to produce more than 2.5 million ounces of platinum in 2010 than it previously reported. Chief executive of Anglo Platinum AMSJ.J, Neville Nicolau was quoted saying: “We have had as a strategy for some time now [...]
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Tuesday, May 18, 2010
Due to the damage in the precipitator at the Zondereinde metallurgical plant, South African platinum-miner NORTHAM PLATINUM LTD (NHM:SJ) has to shut down the converters. CEO Glyn Lewis was quoted saying: “The interruption will have a negative effect on sales for the current financial year.’ Click here to access the entire news
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Friday, October 23, 2009
Though platinum prices have near doubled to 1350/oz this week from a low of 732/oz last October, for the miners in South Africa, it is still an uphill task. The SA government's talks to takeover ownership of mines could potentially scare off investors. How will the platinum producers operate in a constrained environment?
Continue reading "Platinum Sales Drop, SA Miners Hurt"
Thursday, August 20, 2009
Impala Platinum, the world’s second leading platinum producer, declared that it would seek further talks with a South African union planning an indefinite strike next week. For full story, click here
Continue reading "Platinum Miner Implants Has Sought to Avert Strike"
Sunday, August 2, 2009
South Africa’s Solidarity union declared Anglo American Plc has planned to shed further jobs in South Africa, and accused the company of adopting a short-term survival strategy. Gideon du Plessis, deputy general secretary of Solidarity, stated: It is rumoured that Anglo American plans to cut the personnel at its South African head office by 25 percent. For full [...]
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Thursday, May 27, 2010