Friday, January 19, 2018

Lonmin shuts its perenially problematic key furnace for a month but offsets production losses by starting up three smaller furnaces.

Mining exploration and development company Jubilee Platinum, has reported the narrowing of its first half headline loss to 0.11 pence a share from 0.37 pence a share the year before.

Platinum junior Platmin, which is developing mines in South Africa, has reported the widening of its loss to $11.1m for the 10 months to end December 2009.

Anglo Platinum is learning from the past, so when it resumes dividend payments it will adopt a more 'moderate' policy, says its financial director.

UPDATED - Singapore's Temasek invests $100m in Platmin, marking what promises to be the first of a number of investments in South Africa. Platmin is to raise a further $250m in a rights issue.

Resources giant Anglo American says Anglo Platinum, the world's largest platinum producer, has a more balanced capital structure following its R12.5bn rights issue.

Anglo Platinum, the world's largest platinum producer, says 99.5% of its rights offer shares had been subscribed for under its R12.5bn rights offer.

Jubilee Platinum expects its loss per share and headline loss per share for the six months to end December 2009 to be between 70% and 73% lower compared to the previously reported corresponding period.

Village Main Reef Gold Mining has concluded binding agreements with additional shareholders in Lesego Platinum that together own 76.6% of the project's inferred resource for a total purchase consideration of R506.8m.

Platinum Australia, the Australian exploration firm developing platinum projects in South Africa, says that underground mining operations have recommenced at the Smokey Hills Mine.