Articles Tagged "aquarius"

Aquarius shuts down the Everest mine

Aquarius Platinum (Aquarius) will shut down its Everest Mine for at least six months because of the unstable ground conditions that forced a suspension of operations. For full story, click here    

Platinum’s future eludes analysts

Platinum showed extreme volatility in 2008, rising to an all-time high of $2,290 an ounce in March on the back of a power shortage in major producer South Africa, before falling to a five-year low of $732.50 in October.

Platinum rebounds despite poor fundamentals

Platinum rebounded early in ’09, and came back into the four digits, the metal’s highest value in over 12 weeks. In 2008 the metal went on a wild ride, hitting a peak of $2,290 per ounce, and then came crashing down to a three digit value. Despite the metal starting the year on a good note, RBC capital markets has cut its platinum price forecast for the next two years.

Gold exceeds platinum in value

Platinum has shed 45 per cent of its value in just nine months. Last Friday the spot price of platinum hit a low of $812.75 per oz. Now, for this first time in 12 years gold has surpassed platinum in value.

Platinum continues bearish trend

The continuing rise of the greenback coupled with auto industry woes has hit platinum where it hurts the most- market prices. These two factors are causing platinum to continue on a bearish trend.

Mvela Resources denies talks with Aquarius, Lonmin

South Africa’s Mvelaphanda Resources denied that it is in talks with Aquarius Platinum about a possible merger with the world’s No.3 platinum producer Lonmin. James Wellsted, executive commercial manager of Mvela, said: At the moment we haven’t had discussions with Aquarius about anything like that. For more information, click here For Mvela’s website, click here