Friday, May 25, 2018

ENRC is to buy a 12.2% stake in Northam Platinum from Mvelaphanda Resources for R2.2bn in cash, leaving the way clear for the latter to begin an unbundling process.

Wesizwe and Platinum Group Metals have cleared the final hurdle that will allow them now to finalise deals to finance their platinum mines, which may include bringing in strategic partners.

Gold Fields Mineral Services (GFMS) predicts continued strength in both platinum and palladium prices this year driven by investment demand and economic recovery.

Anglo Platinum maintains its full-year production target of 2.5 million oz despite a quarter-on-quarter fall in output. It expects the platinum market to show a deficit this year on the back of strong demand.

Platinum surges to a two-year- high on strong auto demand and investor interest.

Hulamin, an independent producer of semi-finished and fabricated aluminium products, has announced the appointment of Richard Jacob as CEO with effect from July 2010.

Mid-tier mining company Metorex says that its clawback offer has been oversubscribed. A total of 822.96 million - or 329% - shares were subscribed for.

Platmin bolsters its war chest with $250m as its consolidation plans take shape in the South African platinum sector.

Kumba Iron Ore starts the arbitration process against ArcelorMittal in a dispute over the supply of cheap ore to South Africa's largest steelmaker, who has bumped up prices significantly since the battle started.

A small group of disgruntled community members march on Wesizwe. Questions are asked if this is merely a desperate diversion tactic in light of a court bid to reveal the whereabouts of some R500m.