Implats Loses About $263 Million in Income at Rustenberg Mine
Reuters reported Impala Platinum (JSE:IMP) said on Tuesday the costs of an illegal strike at its Rustenberg mine have reached 100,000 ounces and a loss of income of about $263.66 million.
Articles Tagged "platinum mine"
Implats Strike Causes Loss of 80,000 Platinum Ounces
Mineweb reported Impala Platinum (JSE:IMP) said the violent strikes at its Rustenberg platinum mine have cost 80,000 ounces in production so far.
Nkwe Patinum to be Awarded Mining Rights
Mining Weekly reported Nkwe Platinum (ASX:NKP) may soon be allowed to mine three of its platinum projects in South Africa.
More Than 25% of Miners Reemployed at Implats Project
Mining Weekly reported 4,617 of the 17,200 miners laid off in a mining dispute have been reemployed at Impala Platinum's (JSE:IMP) Rustenberg mine.
Is Platinum Treading The Gold Path?
Barrick Gold has confirmed that it has dropped plans to develop the Sedibelo platinum project in South Africa. Not to worry. The story for the metal has only just begun.
Supply Threats to Accelerate Platinum’s recovery
As platinum just start down the road to recovery, analysts are already warning that supply threats are likely to boost the metals price to new highs. Platinum prices may climb above $1,500 an ounce “in the next couple of years” as demand recovers amid supply constraints in South Africa, the world’s biggest producer, according to Banc of America Securities- Merrill Lynch.
Platinum gets mixed response as crude oil drops
Platinum was mixed on Thursday, July platinum rose $2.40 to $1,207.60 an ounce, while September palladium declined $3.35 to $239.70. The drop in the three month contract price was related to declining crude oil. Last week, prices of both platinum and palladium climbed to their highest levels since November 2008-
Platinum’s alternative investment appeal
Platinum is on track for the best quarter in over a year, as demand for the metal as an alternative to gold has nudged prices up 23 per cent. Platinum’s premium to gold stood at $213.15 an ounce yesterday, compared with $1,041.83 a year ago.
Platinum to mimic gold?
Platinum is known as "high-octane gold", for its stronger price moves and prospects for a higher upside. Platinum is essential to the economies of many industrialized nations, globally, demand for platinum is the sum of; investment demand, industrial demand, and jewellery demand.
