Shaft Sinkers announces starts main shaft sinking at Kibali

Shaft Sinkers Holdings plc ‒ the international shaft sinking and underground construction group ‒ has announced the start of the Main Sink Phase at...

Northam ready for further talks with NUM

South African platinum miner Northam Platinum Limited has responded to yesterday’s rejection by the National Union of Mineworkers (NUM) of its latest pay offer...

NUM considers new pay offer

The National Union of Mineworkers (NUM) is consulting members on a revised wage offer it has received from independent, mid-tier, integrated platinum group metals...

Platinum giants ready to confront union over pay demand

Rising costs and falling prices may prompt South Africa’s largest platinum mines to stare down a union threat to halt 70% of global production...

Mozambique coal exports via Sena line to Beira exceed 3Mt

Coal carried from the Mozambican province of Tete along the Sena railway line to the port of Beira so far this year has earned...

Pay Strike starts at Northam Platinum

A strike called by South Africa’s National Union of Mineworkers (NUM) at Northam Platinum Limited over wages has continued into a second day, as...

Impala workers to strike at world’s biggest platinum mine

The Association of Mineworkers and Construction Union (AMCU) ‒ the largest labour group at Impala Platinum Holdings Limited’s South African operations ‒ says that...

All parties must co-operate for success

What a period it’s been in the mining industry – globally and at home! Quite possibly not that much different from any other time; nevertheless,...

AMCU strike decision possible next week

South Africa’s Association of Mineworkers and Construction Union (AMCU) has announced that it may reach a decision next week on the issue of whether...

After the Burn

ANTONIO
Antonio Ruffini
– Editor
With the ongoing fallout of the sub prime crisis in the US, the impacts of high commodity prices themselves, oil in particular, on economic growth, and the recent strengthening of the dollar, commodities have lost some of their steam over the past few months.

Platinum is some US$1,000 off its peak. Looking at how the landscape has changed from another angle, gold companies that factor in all the costs of doing business, including amortisation of capital spent on establishing projects, not just cash operating costs, find that very few of them make much money at a gold price of less than US$800/oz. Some juniors are finding it harder to get hold of funds to undertake projects.

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