Saturday, November 18, 2017

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.

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.

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

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

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

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.

The acrimonious fight for control of platinum riches belonging to a North West tribe, the Bakubung-Ba-Ratheo, which is the empowerment partner of Wesziwe, is deepening.

Platinum's supply side remains constrained, Investec Asset Management (IAM) says.

Anglo Platinum's Mogalakwena open cast mine near Mokopane in Limpopo Province is the group's "jewel in the crown" because of its low operating costs and extremely long economic life.