Bloomberg reported that Sibanye Gold (NYSE:SBGL) is open to purchasing platinum mines after wage strikes end in South Africa.
Articles Tagged "South Africa"
Striking at the operations of South Africa's three major platinum miners is negatively impacting everything from the miners' profits to local businesses. Prices, however, have thus far been largely exempt.
Bloomberg reported that despite a 10-week strike at its South African operations, Anglo American Platinum Ltd. (OTCMKTS:AGPPY) still has enough platinum to supply its customers.
Mining Weekly reported yesterday that South Africa's Association of Mineworkers and Construction Union (AMCU) is prepared to keep striking for another six months at the operations of major miners Anglo American Platinum Ltd. (OTCMKTS:AGPPY), Lonmin plc (LSE:LMI) and Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY).
Ivanhoe Mines Ltd. (TSX:IVN) announced yesterday that it has received a positive preliminary economic assessment (PEA) for its Platreef project, which is located in South Africa's Bushveld Complex.
Reuters reported that Kgalema Motlanthe, deputy president of South Africa, will be meeting with unions and mining industry members on Thursday.
Mining Weekly reported yesterday that Standard Bank plans to launch three new exchange-traded funds (ETFs) — the AfricaGold ETF, AfricaPlatinum ETF and AfricaPalladium ETF — on the JSE.
Ivanhoe Mines Ltd. (TSX:IVN) announced that drilling at its South Africa-based Platreef project has intersected a "thick zone of high-grade mineralization." The zone is located in a new extension of the Flatreef platinum-palladium-nickel-copper-gold-rhodium discovery.
Bloomberg reported that according to Simon Hudson-Peacock, a fund manager at Momentum Asset Management (Pty) Ltd., Anglo American Platinum Ltd. (OTCMKTS:AGPPY) will be able to supply its customers longer than Lonmin plc (LSE:LMI) and Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY).
Mineweb reported yesterday that analysts are raising the possibility that strikes at the operations of South Africa's major platinum miners will push prices for the metal up.