Johnson Matthey's Platinum Today reported that as part of its efforts to "improve on the uses of platinum," South Africa's government is going to partner with Ballard Power Systems Inc. (TSX:BLD,NASDAQ:BLDP) and Anglo American Platinum Ltd. (OTC Pink:AGPPY) to begin field trials of a "methanol-fuelled 'home generator' prototype product designed for use in off-grid residential applications."
Mineweb reported that on Saturday, Anglo American Platinum Ltd. (OTC Pink:AGPPY) said that operations at its South Africa-based Thembelani mine have returned to normal. On Friday, a "group of employees" had prevented 2,400 workers from returning from underground.
Thomson Reuters GFMS believes that platinum prices could rise to nearly $1,600 this year. South African supply will play a major role in determining whether that happens.
Though platinum is now commonly used in autocatalysts and jewelry, when Spanish explorers first came across the metal on a 16th century expedition in Colombia, they were unaware of its value.
Mineweb reported that at the end of this week, Anglo American Platinum Ltd. (OTC Pink:AGPPY) will formally begin the process of cutting 6,000 jobs in South Africa. Some fear that the action will provoke unrest.
Anglo American Platinum Ltd. (OTC Pink:AGPPY) announced that its revised platinum business proposal involves cutting about 6,000 mining and processing jobs in South Africa, less than half of the 14,000 it originally suggested. The company's aim is to remain competitive and profitable without upsetting the South African government and unions in the country.
CNBC reported that platinum prices could move higher if Anglo American Platinum Ltd.'s (OTC Pink:AGPPY) talks with the South African government and unions in the country result in a substantial restructuring of the nation's platinum sector. Such restructuring could involve cutting as many as 14,000 jobs and mothballing two South African mines.
Bloomberg reported that the Zimbabwe government has no intention of stopping its acquisition of 27,498 hectares of Impala’s platinum unit, Zimplats Ltd, even as the biggest platinum producer in the country continues to discuss its appeal.
Mining Weekly reported that Maseve Investments, 74% owned by Platinum Group Metals (PTM), has signed a life-of-mine concentrate offtake agreement with Amplat’s subsidiary, Rustenburg Platinum Mines (RPM) for the Western Bushveld JV Project 1 mine.
Bloomberg reported that Zimbabwe, which has the second biggest platinum reserves in the world, is in the process of creating a law that would enable its government to seize companies’ controlling stakes without paying.
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