Saturday, January 20, 2018

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.

Anglo Platinum CEO Neville Nicolau says the group may increase production by up to 200,000oz of platinum this year in response to improving market conditions.

Impala Platinum has put two former executive stalwarts - ex-CEO John Smithies and former head of Rustenburg operations Paul Visser - back in harness as it strives to improve its Rustenburg operations.

EASTERN Platinum (Eastplats) on Wednesday reported a full year net profit attributable to equity shareholders of $5.7m compared to a net loss of $209.4m previously.

Wesizwe hunts for a partner to develop its platinum project after its CEO Mike Solomon is cleared of any financial impropriety, clearing the air after a heated boardroom battle last year.