SA platinum slide takes market into deficit
South African platinum production would be 300,000 ounces lower in 2012, said Johnson Matthey helping the market swing into a remarkable 400,000 oz deficit.
Lonmin urges support for $800m rights offer
Lonmin said its future was in jeopardy unless shareholders supported its refinancing, due for a shareholder vote on November 19. Crucially, it kept the door open to Xstrata.
Xstrata turns screws on Lonmin in takeover effort
In an extraordinary exchange, Lonmin has rejected the calls from its shareholder to
a reverse takeover and the resignation of its Board.
Lonmin seeks $800m in rights issue
UPDATED: Lonmin has proposed a rights issue of $800m, likely to take
place
before the end of the year, as part of a strategy to refinance its balance
sheet.
Battle weary Lonmin slashes capex further
Lonmin has reined in capital expenditure for the next two years by another
23% as the company seeks to map its way forward following the events at
Marikana.
Genorah to keep Nkwe stake
Nkwe Platinum says the equity stake of its major shareholder, Genorah Resources, is
safe following the lapse of a security lending agreement.
Talks on platinum forum lose momentum
Negotiatons on the establishment of a central bargaining platform for the platinum
sector is losing momentum, says a union official, while Amcu refuses to return to
talks.
Lonmin refutes collusion prior to shootings
Lonmin has defended director Cyril Ramaphosa, who was placed at the centre of
potentially controversial e-mails only 24 hours prior to the shootings of Marikana
miners in August.
Amplats holds off on further dismissals
Anglo American Platinum says it is holding off on dismissing striking workers at its
Union and Amandelbult mines.
Everyone in platinum ‘is now making money’
There’s a short-term benefit flowing through to the platinum sector, ironically owing
to the undoubtedly long-term negatives attached to the strike action.