Friday, May 25, 2018

Zimplats' metal output falls, but profits rise on firmer metal prices.

Higher platinum group metal prices lifted Aquarius Platinum's revenues in the March quarter offsetting an 8% fall in production.

Brian Gilbertson's successful courting of two sovereign funds into the little known Platmin provides further evidence the commodity bull run is intact, and raring to go again.

The IDC has shed some light on its involvement in a series of transactions that led to the sale of Wesizwe platinum shares belonging to the Bakubung community.

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.