Home News PGMs Page 174

PGMs

The Bafokeng’s royal platinum play

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.

Shanduka seizes control of Incwala

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.

Lonmin swings to profit in first half

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.

Platmin raises $250m of new equity

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

ARM dumps Namibian gold project

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 profit up despite output falling

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

Aquarius gets basket price boost

Higher platinum group metal prices lifted Aquarius Platinum's revenues in the March quarter offsetting an 8% fall in production.

Brian’s next move

Brian Gilbertson's successful courting of two sovereign funds into the little known Platmin provides further evidence the commodity bull run is intact, and raring to go again.

ENRC buys Northam stake for R2.2bn

ENRC is to buy a 12.2% stake in Northam Platinum from Mvelaphanda Resources for R2.2bn in cash, leaving the way clear for the latter to begin an unbundling process.

IDC denies Wesizwe shares discount

The IDC has shed some light on its involvement in a series of transactions that led to the sale of Wesizwe platinum shares belonging to the Bakubung community.