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Platinum

  • Royal Bafokeng Platinum opens its first phase of homes for workers
  • Royal Bafokeng Platinum is setting a new standard for mining companies. The black-owned miner opened its first phase of homes for permanent workers. This is something unseen in the mining industry so far. As well as wages being a major issue leading to strikes, so has the living conditions of workers. Over the next few years, the platinum producer plans to build enough homes to house al... ››› more
  • [17 September 2014]
  • Experts agree - acting on the news will leave you broke
  • So you invest your own money, pick your own shares? And to do so you read as much as possible? You frequent Moneyweb, Fin24, Mining.com, Mining weekly etc. Guess what? Chances are you could be damaging your investment portfolio by being this ‘well informed'! If you read the news this past month your portfolio composition would’ve changed FOUR times Yep – one of the news sites I fr... ››› more
  • [08 September 2014]
  • Lonmin dismisses reports of mass retrenchments
  • It's been a tough year for Lonmin so far. A five-month strike in the platinum sector hit its production. Yesterday, reports speculated that the platinum miner had plans to let go up to a fifth of its workforce. But the CEO of Lonmin, Ben Magara, says this is untrue. He says the miner is concentrating on increasing production. Let's take a closer look at what's going on… Lonmin foc... ››› more
  • [26 August 2014]
  • Why even great management won't be able to save this platinum mine
  • Mining has always been a risky business. We all know how dangerous underground working conditions can be. And every once in a while there's a big mining accident that turns the fate of a profitable mine into a deep money pit. Village Main Reef had that with its Blyvoor mine two years ago after an earthquake collapsed a new mine portion - Making major parts of the mine inaccessible and cut... ››› more
  • [22 August 2014]
  • The price of palladium hits over $900 and pulls the JSE up with it
  • Yesterday, the Johannesburg Stock Exchange benefitted from a soaring palladium price. The struggling platinum producers outperformed on the news. Palladium supply is under threat due to geopolitical events in Russia. Russia is the world's number one producer of the precious metal. Let's take a closer look at what happened on the local bourse yesterday… Platinum producers benefitted f... ››› more
  • [19 August 2014]
  • Unions criticise Amplats' decision to sell mines
  • Yesterday, along with the release of its results for the six months to the end of June, Anglo American Platinum (Amplats) revealed its plans to sell of a number of its platinum operations. Workers' unions are not happy with the plans as they anticipate massive job cuts. And a labour expert has warned of the repercussions of the move. Let's take a closer look… Amplats’ selling its min... ››› more
  • [22 July 2014]
  • Aquarius Platinum pen a new three-year wage deal with the NUM
  • Yesterday, Aquarius Platinum and the National Union of Mineworkers (NUM) announced that they'd signed a new three-year deal. This is the second platinum producer in the last few days to agree to new terms without resorting to strike action. Let's take a closer look at the new wage deal… Aquarius will hike wages 12% in the first year The new wage deal between Aquarius Platinum and the ... ››› more
  • [22 July 2014]
  • Amplats to sell mines after a five-month strike leads to a 90% drop in earnings
  • Earlier today, Anglo American Platinum (Amplats) released its results covering the six months to the end of June. The five-month long strike took its toll on production, with earnings dropping drastically for the period. Amplats also revealed it plans to sell off some of its operations. Let's take a closer look… Amplats’ headline earnings per share fell almost 90% In its latest six-... ››› more
  • [21 July 2014]
  • Revealed: The platinum strike 'profit phoenix'
  • There's no denying, five months of strikes in the platinum industry has created a mess out of our economy. Even the South African Reserve Bank admitted the effects of the strike was part of why they only increased our interest rate with 0.25% instead of the typical 0.5%. But out of all the bad that's happened for the platinum sector, one good thing's emerged... Like a phoenix rises out of th... ››› more
  • [18 July 2014]
  • Royal Bafokeng Platinum and the NUM sign a new wage deal without a strike in sight
  • After the five-month long strike that crippled the production of the world's three top platinum producers, another platinum producer has signed a new wage deal without any industrial action. Yesterday, Royal Bafokeng Platinum and the National Union of Mineworkers (NUM) announced a new three-year wage deal. Let's take a closer look at the new agreement… A new wage deal in the platinum se... ››› more
  • [18 July 2014]
  • Anglo American reports a 40% drop in platinum production
  • The parent company of Anglo American Platinum (Amplats), Anglo American, released its second quarter production report earlier today. Not surprisingly, the diversified miner reported a sharp drop in platinum production. But other resources mined showed strong growth. Let's take a closer look at the report… Anglo American shares dipped on release of the report On release of the report... ››› more
  • [17 July 2014]
  • Palladium just hit a 13-year high… What's in store for the metal now?
  • So far, 2014 has been the year for palladium. The platinum group metal (PGM) is easily outperforming its precious metal counterparts. Palladium is up over 19% so far this year. But can palladium keep on rising? Or is it destined for a fall? Read on to find out and how you can get on palladium's move… The platinum sector strike hit palladium production hard Helping the price of palladi... ››› more
  • [11 July 2014]
  • The rand weakens as manufacturing and mining data disappoint
  • Yesterday saw the release of manufacturing production data and mining output data. Both disappointed. The manufacturing sector felt the effects of lower production in the motor sector. And, perhaps not surprisingly, mining output felt the effects of the platinum sector strike. The rand weakened on the news. Let's take a closer look at what the data revealed… Manufacturing data was f... ››› more
  • [11 July 2014]
  • The market is looking buoyant for precious metals
  • Gold, platinum and palladium continue to edge higher. A weaker dollar is helping to boost prices. Geopolitical tensions are helping push gold up. And supply concerns over platinum and palladium continue to drive prices higher. Let's take a closer look at what's going on… The prices of precious metals continue to rise Precious metals look likely to complete a “sixth consecutive week... ››› more
  • [10 July 2014]
  • The rand firms as strike worries ebb
  • Since over 220,000 metalworkers affiliated with the National Union of Metalworkers of South Africa (NUMSA) downed tools a week ago, the rand has been under immense pressure. But with news emerging today that the strike may be nearing an end, the rand has firmed slightly. Let's take a closer look at what's going on with the local currency… The rand claws back some ground The rand strengthened... ››› more
  • [08 July 2014]
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