Platinum Investing News» mining

Pan African Phoenix Project Increased Reserves to 469 000 oz.

Mike Rodger — Fri, 28 May 2010 04:18:50 +0000

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 [...]

SAfrica ANC Youth League President Pursues Mine Nationalisation in 2012

Mike Rodger — Thu, 27 May 2010 02:34:57 +0000

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 [...]

Wesizwe Platinum Signs $877M Deal with China for its Frischgewaagd-Ledig project

Mike Rodger — Wed, 26 May 2010 01:01:10 +0000

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 [...]

Implats’ Platinum Production Not Affected after Meeting with NUM

Mike Rodger — Wed, 26 May 2010 00:50:41 +0000

Impala Platinum Holdings Ltd (IMP:JNB), world’s second-largest platinum producer, held a meeting with labour union the National Union of Mineworkers (NUM) and confirmed that although there are still 34 miners on strike, production of platinum is not affected. Click here to access the entire news

Platinum Leader Lonmin Shuts Down Again

Mike Rodger — Tue, 25 May 2010 02:51:44 +0000

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 [...]

Chinese Funds Wesizwe R6,6bn for Platinum Mine

Mike Rodger — Tue, 25 May 2010 02:44:24 +0000

Wesizwe Platinum Limited (Wesizwe), South African platinum junior mining company, has announced that it has signed an agreement with Chinese consortium to finance it with a R6,6-billion, or $877-million, debt and equity financing package that would fund the development of its flagship Frischgewaagd-Ledig project. Wesizwe CEO Michael Solomon confirmed that this transaction can bring in [...]

Jubilee Platinum’s ConRoast Technology Making a Buzz

Mike Rodger — Thu, 20 May 2010 02:10:10 +0000

Jubilee Platinum Share Price (JLP), with a company value of $129 million and is using the ConRoast technology, which is holding the most promising position in the current smelting technology has lifted the stock as much as 17 percent on Tuesday. RBC Capital Markets analyst Leon Esterhuizen is quoted saying: “It’s interesting to note the [...]

Colossus Minerals Inc. Announces COOMIGASP Shareholder Approval and Acquisition of 774 Hectares land in Serra Pelada

Mike Rodger — Tue, 18 May 2010 02:12:37 +0000

Colossus Minerals Inc. (TSX: CSI) has announced that their joint venture (JV) partner shareholders COOMIGASP (Cooperativa de Mineracao dos Garimpeiros de Serra Pelada) already approved Vale S.A. (“Vale Option Agreement”) agreement. The Vale Option Agreement is to acquire 100% interest to mine precious metals in a 700 hectare land package. The agreement between Colossus Minerals [...]

Q1 Down for Eastern Platinum

Mike Rodger — Thu, 13 May 2010 22:55:15 +0000

Eastern Platinum Ltd (ELR.TO) has reported a 74 percent fall in Platinum (Pt) production in the first quarter of 2010. This quarter’s equity shares were only $824,000 compared to the $3.2 million of 2011. Chief Executive Ian Rozier is quoted as saying: “The slow start to 2010 affected all aspects of our operations. However, our [...]

Eastern Platinum Resumes Mine Development and Projects

Mike Rodger — Wed, 12 May 2010 22:36:11 +0000

Platinum-miner Eastern Platinum (Eastplats) is positive about their Q2 2010 performance after reporting a low Q1 results on Wednesday. This is due to higher platinum group metals (PGMs) price trends at the start of 2010. Eastplats also confirmed that the company’s mining is now at a normal rate. Eastplats CEO Ian Rozier is quoted as [...]