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Implats HEPS down by as much as 41%

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Impala Platinum says its headline earnings for the past financial year may be down by as much as 41%.

Aquarius: Kroondal is safe, for now

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Aquarius Platinum’s Kroondal mine can withstand a further fall in PGM prices and is unlikely to be placed under care and maintenance, says CEO Stuart Murray.

Woeful financials spark Aquarius sell-off

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Aquarius Platinum’s financials all but confirmed the bleak situation CEO Stuart Murray previously warned the company was facing, yet still achieved to rip another 10% from the group’s share price.

Xstrata takes $500m hit on Lonmin stake

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Xstrata has taken an impairment charge of $514m against its 24.6% stake in platinum producer Lonmin; an asset it is likely to dispose of should it merge with Glencore International.

Alarm as Northam forced to rehash BEE deal

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Northam Platinum said its empowerment partners had sold up to 10% of their 26% stake to meet bank covenants. However, the same BEE partners will benefit from the new deal sparking outrage.

Former employees invade Kroondal, three dead

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Mine violence broke out at Kroondal’s Kwezi shaft, a part of its Kroondal mine, which is the only operation to survive brutal cutbacks amid a supply surplus.

Sable Pt backers say market will turn

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It may seem folly to list a platinum exploration play while producers are closing up shop, but mining’s a long-term game, say the people behind Sable Platinum.

Amplats’ Griffith has little margin for error

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Anglo American Platinum’s Chris Griffith has inherited a rather unenviable position in SA’s mining industry. However, he does seem to be extraordinarily blessed with good fortune.

Atlatsa’s Bokoni will not be shut amid review

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Atlatsa Resources said its R5bn recapitalisation programme with Amplats would not be complete in July as forecast, but added there were no plans to close its Bokoni mines amid Amplats’ restructuring review.

Nicolau felt Amplats had already cut back

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Speaking to Miningmx before his resignation, former Amplats CEO, Neville Nicolau, said he didn’t see the point in cutting ounces only for the benefit of the rest of the industry.