R/€ = 16.12 Change: -0.01
R/$ = 14.44 Change: 0.00
Au 1278.82 $/oz Change: -7.06
Pt 819.15 $/oz Change: -7.67


Zimbabwe platinum mines to ride out power cuts, gold output less secure 

By: Reuters     15th May 2019 Power imports are cushioning platinum mining companies against Zimbabwe's worst blackouts in three years, but gold mines could face production cuts as they continue to rely on an unstable national grid, industry officials said. State utility ZETDC this week started indefinite rolling power cuts... 

Greenland optimises Kvanefjeld economics

By: Esmarie Iannucci     15th May 2019 An optimised feasibility study into the Kvanefjeld rare earths project, in Greenland, has estimated a $31-million increase in annual revenue, at current rare-earth prices. ASX-listed Greenland Minerals on Wednesday reported that the optimised study had estimated an 8% increase in rare-earth... 

Platinum market set to move into deficit this year – Johnson Matthey 

By: Marleny Arnoldi     13th May 2019 The platinum market is expected to move into deficit this year, with a resurgence in investor activity to outweigh modest falls in industrial and jewellery demand, says Johnson Matthey in its latest platinum group metals market report. The science multinational company expects a tentative... 

Low morale, management turnover hit Lonmin output

By: Martin Creamer     10th May 2019 Low morale and high management turnover hit the operational performance of Lonmin heavily in the six months to March 31. In reporting a 4%-reduced workforce to 29 812, Lonmin CEO Ben Magara reiterated his conviction that the consolidation of the company through the all-share Sibanye-Stillwater... 

Norsk Hydro's new CEO takes the helm pledging deeper cost cuts

By: Bloomberg     10th May 2019 Norsk Hydro needs to extend its cost cutting after a production halt in Brazil erased the benefits of previous cuts, according to its new CEO. “We’ve been heavily affected by the Brazil situation,” Hilde Merete Aasheim, who started as CEO on Wednesday, said in an interview in Oslo. “The effect... 

Jubilee to maintain growth momentum with PlatCro coming into production

By: Simone Liedtke     9th May 2019 AltX- and Aim-listed Jubilee Metals on Thursday reported that the strong performance of the first quarter is expected to be maintained in the second quarter, as the PlatCro platinum group metals (PGMs) project is being brought into production at a targeted processing rate of 60 000 t/m. The... 

Kidman/Wesfarmers talks going for 'some time'

By: Esmarie Iannucci     9th May 2019 The chairperson of takeover target Kidman Resources, John Pizzey, on Thursday revealed to shareholders that the company had been in discussions with suitor Wesfarmers ‘for some time’ regarding a possible takeover offer. Wesfarmers earlier this month launched a non-binding and conditional... 

Worley creating a force for the future of resources and energy 

By: Martin Creamer     7th May 2019 Following the announcement in October 2018 of WorleyParsons' binding offer for Jacobs' Energy, Chemicals and Resources, the combined new entity has come together under a new brand – Worley – involving 57 600 people across 51 countries. While financially a $3.2-billion acquisition, operationally... 

Top oil buyers rue global chaos bringing back seller's market

By: Bloomberg     6th May 2019 The world’s biggest oil buyers are being forced to go on the defensive once again. US President Donald Trump’s sanctions on Iran and Venezuela, the Opec+ coalition’s output curbs, and disruptions from Nigeria to Libya are all handing crude sellers the upper hand in negotiations. With refiners in... 

Fortune confirms on site gold recovery from cobalt concentrates

By: Creamer Media Reporter      6th May 2019 TSX-listed Fortune Minerals could potentially defer the construction of its downstream refinery, after recent tests have confirmed that it could achieve good gold recoveries from its cobalt and bismuth concentrates at the proposed Nico mine site. The company, which had to find a new site for its... 

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