Platinum

Jubilee Platinum is moving rapidly to build a commercial plant to treat chrome-rich platinum concentrate, an important development in the South African platinum sector.

Nkwe optimises a bankable study into a R6.5bn-R8.3bn platinum project ahead of a listing on the JSE and Hong Kong. Xstrata must decide if it wants to earn into the project and shoulder the costs.

Impala Platinum says its production remains unaffected by a work stoppage at its 12 Shaft operation in Rustenburg.

Wesizwe secures financing of R6.6bn to build a mine. The funding will come from a Chinese consortium, comprising Jinchuan Group and the China Africa Development Fund, and which will take a 51% stake in Wesizwe.

Lonmin is to step up toll-treatment arrangments after it extended the month-long shut down of its Number One furnace by up to 30 extra days after earlier repairs failed.

Shareholders in platinum junior Wesizwe will decide in the next three months whether to go ahead with a R6.6bn capital injection that will see a Chinese consortium take control of the company.

Impala Platium Holdings, the world's second largest platinum producer, has confirmed a work stoppage at the company's 12 Shaft operation in Rustenburg.

UK metals firm Johnson Matthey is bullish on prospects for both platinum and palladium during 2010 and has predicted the platinum price could reach $2,000/oz.

Dennis Tucker's new platinum exploration company Bauba - formerly Absolute Holdings - is already butting heads with other platinum companies including industry leader Anglo Platinum.

Anglo Platinum has advised that its first half basic earnings per share and headline earnings per share were expected to increase by at least 20%.