Cash-strapped Sable Pt rings in the changes
Sable Platinum has enough cash until January although a recovery from SARS and a share issue could keep the company alive while it beds down Selebi Phikwe.
Lonmin through worst, but capital calls loom
Ben Magara, CEO of Lonmin, has steered the company well in these early stages, but important decisions loom on capital projects while strikes remain a risk.
PTM, Africa Wide in BEE dilution dispute
Platinum Group Metals said it was in arbitration over the extent of dilution of its BEE partner, Africa Wide, and that it was still to secure $195m in loan finance.
NUM scorns Northam’s ‘expensive public posture’
Tensions between the NUM and Northam have worsened after the union gave scant regard to an open letter spelling out the effects of a strike at Zondereinde.
Northam takes impasse public in open letter
Northam Platinum has published a notice in City Press calling on the National Union of Mineworkers to help it save the company amid a three-week strike over wages.
Northam will withstand prolonged NUM strike
Revenue losses from the strike at Northam's Zondereinde mine now were at R200m, but the firm was robust enough to withstand a prolonged strike.
SA platinum ETF demand ‘sticky’: JM
Johnson Matthey poured cold water on fears that Johannesburg's highly successful platinum-backed exchange traded product had introduced hot money into the market.
RBPlat cuts capex in R2bn brownfields plant
Royal Bafokeng Platinum will opt for a brownfields expansion of its concentrator at the Bafokeng-Rasimone Platinum Mine rather than build a new concentrator at Styldrift.
SA underpins widening platinum deficit
Johnson Matthey said closures and a loss of productivity would underpin a 78% increase in the platinum deficit, but added the price would still be contained.
Lonmin mulls ESOP, suffers cash burn
Lonmin said it was considering handing up to 8% in the company to employees and the community as it sought to win "hearts and minds".