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Difficulties continue for Afarak in Q3
Published: 16 Nov 18
Industry seasonal effects, coupled with some internal adversities, primarily in the ferro-alloys segment, continue to make this a difficult year for specialty alloys producer Afarak. During the company’s third-quarter period, ended September 30, the benchmark price for ferrochrome fell further, leading to lower revenues on a quarter-on-quarter and year-on-year basis.
South African company building new smelter in Zimbabwe
Published: 02 Nov 18
Foundry and engineering company Thos Begbie is working in the Great Dyke of Zimbabwe, close to the town of Shurungwi, where it is helping to construct the Unki platinum smelter, adjacent to a mining operation owned by platinum mining company Anglo American Platinum (Amplats). Thos Begbie was awarded the contract for the new smelter last year by Amplats, owing to a government regulation set out in 2015, which replaces the Mines and Minerals Act of 1963, restricting the exportation of raw minerals from Zimbabwe. The new regulation – the Mines and Minerals Development Bill – was approved in 2016 by then President Robert Mugabe, who was replaced by President Emmerson Mnangagwa in November 2017.
Amplats takes all of Mototolo
Published: 01 Nov 18
Platinum group metals (PGMs) mining company Anglo American Platinum (Amplats) said on Thursday that it had completed acquisition of the Mototolo joint venture (JV), which has become a wholly owned asset of the company. The Johannesburg Stock Exchange-listed Amplats, which was a 50% JV partner,  has taken up the 40.2% of Mototolo held by Glencore Operations South Africa and the 9.8% held by Kagiso Platinum Ventures.
Zimplats profit rises on higher 4E output
Published: 31 Oct 18
Impala Platinum (Implats) subsidiary Zimplats has reported a 4% increase in platinum, palladium, rhodium and gold (4E) tonnes mined to 1.6-million tonnes and a 6% increase in tonnes milled to 1.67-million for the quarter ended September 30. This compares with the 1.8-million tonnes of ore mined and the 1.7-million tonnes of ore milled in the quarter ended September 30, 2017.
Sylvania achieves second-highest production quarter
Published: 31 Oct 18
Aim-listed Sylvania Platinum started off its new financial year with earnings before interest, taxes, depreciation and amortisation of $7.1-million for the quarter ended September 30. This came on the back of the production of 19 137 platinum, palladium, rhodium and gold (4E) ounces.
Nornickel says Q3 nickel output up 9% q/q
Published: 31 Oct 18
Russia's Norilsk Nickel (Nornickel) said on Wednesday its consolidated nickel production was at 53 739 t in the third quarter of 2018, up 9% quarter-on-quarter. Nornickel, one of the world's largest nickel and palladium producers, also said its palladium production totalled 699 000 troy ounces, down 14% quarter-on-quarter. Platinum output fell 10% to 178 000 troy ounces, the company said.
Amplats extends Zizwe Batlase contract at Amandelbult Complex
Published: 31 Oct 18
Platinum miner Anglo American Platinum (Amplats) on Wednesday announced that the contract with joint venture (JV) company Zizwe Batlase for the provision of strip-mining services at the Amandelbult Complex has been extended. Zizwe Batlase is 51% owned by the local community of Baphalane through the Baphalane Community Trust, named Batlase.
Implats in talks with potential 1 Shaft buyers, as restructuring proceeds
Published: 31 Oct 18
Platinum miner Impala Platinum (Implats) achieved the highest first-quarter mill tonnage at its Impala Rustenburg operations since the 2013 financial year, during the quarter ended September 30. Tonnes milled at Impala Rustenburg increased by 5.6% year-on-year to 3.15-million tonnes in the first quarter of the 2019 financial year, which CEO Nico Muller said reflected the positive outcomes of various initiatives implemented at the operation to improve safety, production and cost performance.
Growth stock tag possible from Far West surface project –­ DRDGold
Published: 31 Oct 18
When it comes to the gold sector, recovering the precious metal from dumps on surface beats pursuing it in deep, dark and dangerous underground mines. The local gold industry has put many feelers out to access gold on surface and one of the most exciting projects under way is Far West Gold Recoveries Project.
GM cautious on switch to platinum even as palladium price soars
Published: 30 Oct 18
Palladium’s surge to a record has intensified talk among analysts that carmakers will look to replace it with cheaper platinum for use in pollution-control devices. The auto industry’s answer: Not so fast. Palladium, mainly used to control smog from gasoline engines, is trading near the highest relative to platinum since 2001 as consumers move away from diesel vehicles, where platinum is more widely used. Tensions between the US and Russia, a top supplier, and forecasts for shortages are also lifting palladium. Platinum fell to an almost 10-year low in August.
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