Platinum

Rising investment may take platinum to $2,000 an ounce in the next six months, its highest since mid-2008, Johnson Matthey said in an annual report.

There has been mixed reaction to Eastern Platinum’s March quarter results during which it broke even despite lower production thanks to rising platinum group metal prices.

Toronto, AIM and JSE-listed Eastern Platinum has reported a net profit attributable to equity shareholders of $824 000 for the quarter ended March 2010.

Anooraq's production dropped in the March quarter but the worst should be behind the junior platinum producer now that it has completed the labour restructuring programme.

The Royal Bafokeng Nation is about to reach a hugely significant milestone with the listing on the JSE later this year of its own platinum company.

Lonmin has reported an about turn in half year profits by posting first half earnings per share of 15.5 US cents, compared to a first half loss per share of 67.9 US cents for the first half of the previous year.

Shanduka Resources is to pay R2.8bn in cash and debt in return for a 50.03% stake in Incwala Resources, the struggling empowerment initiative first rolled out by Lonmin in 2004.

Platinum junior Platmin, which is developing mines in South Africa, has raised $250m in new equity.

Diversified SA miner African Rainbow Minerals plans to divest from a gold project in Namibia by June and finalise development of a copper project in Zambia this year, it says.

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