Mining junior, Pan African Resources PLC (AIM: PAF, JSE: PAN) has reported that its Phoenix platinum project reserves of platinum palladium, rhodium and gold, or four-element platinum-group metals (4E PGM) has been increased to 469 000 oz.
Pan African CEO Jan Nelson is quoted saying:
“In addition, the drilling program underpins the high quality of the asset, [...]
South African mineworkers at Anglo Platinum are demanding a 15 per cent pay surge from the world’s leading producer of the precious metal.
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Impala Platinum must increase pay by 20%, the world’s second-leading producer of the metal, was asked by a mining union representing about half its South African workers to raise pay by 20 percent.
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Pan African Resources has set to purchase the 600,000 oz pgm Phoenix Platinum tailings treatment project in South Africa for R71 million.
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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.
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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.
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Central African Mining and Exploration Company Plc. declared that progress to date at its Todal joint venture’s Bokai platinum project in Zimbabwe has been exceptional.
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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.
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WeSizwe, an advanced stage South African platinum group metals stock, declared that a ZAR 550m three year equity standby distribution facility with a division of Jersey City, NJ.
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South African precious metals exploration and mining firm Platfields announced that the company still plans to list in Johannesburg, despite missing its initial target of last October partly due to the global crisis.
Chief Executive Officer Bongani Mbindwane, said:
We believe it would have been foolhardy to have pressed ahead with a listing at the time of [...]
Thursday, May 27, 2010