Platinum Group Metals

The platinum-group metals, more commonly known as PGMs, are iridium, osmium, palladium, platinum, rhodium, and ruthenium. Platinum group metals incorporates, mining, exploration, processing, precious metals. Electric vehicles use both palladium and rhodium, as well as platinum for use in the manufacture of the catalytic converter. Platinum and palladium are used in jewelry manufacture. PGMs are usually mined in deep level, narrow reef mines, where safety is of utmost concern.

WESTERN BUSHVELD JOINT VENTURE FOR 2010 PRODUCTION

Core drill
Core drill sample being
pulled to surface and
placed in the core tray.
The feasibility study released by Platinum Group Metals on the Western Bushveld Joint Venture (WBJV) has scheduled for underground production from the planned mine in late 2010. The mine design includes the construction of a concentrator to produce between 235,000 and 271,000 ounces a year of 4E (platinum, palladium, rhodium and gold) in concentrate over a steady state of nine years with a 22 year total underground mine life. The project’s average operating margin on three year trailing metals prices including minor elements and copper and nickel is estimated at US$739 per 4E ounce over the life of mine.

 

Seventh consecutive profit record for BHP Billiton

[img:Billiton%20-%20Pic%201_0.jpg|BHP Billiton’s
Mozal smelter in
Mozambique
]Melbourne, Australia --- MININGREVIEW.COM --- 19 August 2008 - BHP Billiton – the world’s largest diversified mining and resources company – has achieved another year of record earnings, driven by excellent operating performance, cost control and the delivery of high margin growth projects into strong market conditions.

Anglo- MDC talks on platinum future in Zimbabwe

[img:Zimbabwe%20-%20Pic%201_0.jpg|The Mimosa platinum
mine–an Implats/Aquarius
joint-venture – is on
the Wedza geological
complex, east of
Bulawayo in Zimbabwe
]Johannesburg, South Africa --- MININGREVIEW.COM --- 19 August 2008 - International mining giant Anglo American plc has held secret talks with Zimbabwe's Movement for Democratic Change (MDC) on the subject of obtaining lucrative platinum mining concessions should the opposition party gain power.

Second quarter turnaround for Eastplats

[img:Eastplats_0.jpg|The 120 000 tpm
new Eastplats
concentrator plant
]Vancouver, Canada --- MININGREVIEW.COM --- 18 August 2008 - Eastern Platinum Limited (Eastplats) – Canada's leading platinum group metals producer currently engaged in the acquisition, development and mining of platinum group metal deposits in South Africa. – has revealed an impressive second quarter transition from net loss to net earnings.

Rumours of BHP bid for Impala Platinum

[img:Impact1%20-%20Pic%201_0.jpg|The Two Rivers mine
in Mpumalanga – one
of the South African
operations of Implats
]Johannesburg, South Africa --- MININGREVIEW.COM --- 15 August 2008 - Shares in Impala Platinum Holdings Limited (Implats) – second biggest platinum producer in the world – rose 9% higher yesterday, partly boosted by market talk that BHP Billiton – the world’s largest diversified mining and resources company – could bid for the South African company.

Lonmin warns shareholders against Xstrata takeover bid

[img:Lonmin1_0.jpg|Sir John Craven,
Chairman,
Lonmin
]London, England --- MININGREVIEW.COM --- 15 August 2008 - Lonmin plc – the world’s third largest platinum producer – has again come out strongly against the US$10 billion (R75 billion) takeover bid by international miner Xstrata plc, and has warned shareholders against considering the offer by the Swiss-based company.

Exxaro earnings up almost 50%

[img:Exxaro%20guy_0.gif|Sipho Nkosi,
Chief Executive Officer,
Exxaro
]Johannesburg, South Africa --- MININGREVIEW.COM – 15 August 2008 - Diversified, South African-based resources group Exxaro Resources Limited (Exxaro) today reported revenue of R5.8 billion for the six months ended 30 June 2008 – an increase of 19% over the comparative period last year.
 

Weisizwe poised for success

[img:Wesizwe%20land_0.jpg|An aerial view of
Wesizwe’s Frischgewaagd
-Ledig core project
area on the
Western Bushveld
]Johannesburg, South Africa --- MINGREVIEW.COM --- 13 August 2008 - Emerging new generation platinum miner Wesizwe Platinum Limited – poised to launch the capital construction phase of its R5.6 billion Frischgewaagd-Ledig core project on the Western Bushveld complex next month – has had yet another very successful year which effectively marked the beginning of its transition from an exploration player to fully-fledged platinum producer.

Xstrata buys more Lonmin shares

[img:Xstrata%20-%20Pic_0.jpg|Lonmin’s K4
platinum concentrator
]London, England --- MININGREVIEW.COM --- 11 August 2008 - Swiss-based international miner Xstrata plc – making its hostile US$10 billion (R75 billion) bid for Lonmin plc – has purchased more shares in the world's third-biggest platinum producer from BlackRock Incorporated.

Reporting from here, Bloomberg News quoted Blackrock fund manager Evy Hambro as saying that he had accepted Xstrata's 3 300-pence-a- share bid “rather than waiting for a higher offer that may never eventuate.”

Mining production and mineral sales both rise

[img:SA%20mine_0.jpg|A typical South
African mine
]Johannesburg, South Africa --- MININGREVIEW.COM --- 08 August 2008 - Total mining production in South Africa – the world’s biggest precious metals producer –has halted its downward trend, and mineral prices are riding higher than ever.

Releasing latest production figures here today, Statistics South Africa revealed that the country’s overall mining output for the second quarter of 2008 had risen 7.7% above production in the first quarter of the year. The production of platinum group metals (PGMs) contributed 4.4% while diamonds contributed 1.5% Nickel was the only significant negative contributor (-0.1%) to the quarterly change in total mining production.

Latest Feature