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.

Record earnings for Anglo Platinum

[img:Neville%20Nicolau_0.jpg|Neville Nicolau,
CEO,
Anglo Platinum
]Johannesburg, South Africa --- MININGREVIEW.COM --- 29 July 2008 - Anglo Platinum – the world's largest primary producer of platinum – has announced record headline earnings for the half-year ended 30 June 2008. Headline earnings increased 22% to R8.44 billion, and headline earnings per share, attributable to ordinary shareholders, rose by 21% to R35.63.

US$10 billion mining investment in Cameroon

[img:Cameroon1_0.jpg|The road into
central Yaounde,
in Cameroon
]Yaounde, Cameroon --- MININGREVIEW.COM --- 28 July 2008 - Cameroon is luring a flood of new mining investors who it hopes will invest over $10 billion (R80 billion) and create over 27 000 jobs in the country over the next few years.

Reuters reports from here that Cameroon – rich in such minerals as bauxite, iron ore, cobalt, nickel and uranium, but long troubled by poor infrastructure, red tape and costly corruption – is now attracting the attention of some major new companies.

Strike threatens mine production

[img:gold%20fields%201.thumbnail.JPG|Gold Fields’ South
Deep mine – one of
a large number affected
by today’s strike
]Johannesburg, South Africa --- MININGREVIEW.COM --- 23 July 2008 - Today’s strike in protest against rising power prices has involved thousands of South African workers from various walks of life, but is also threatening production at various of the country’s mines in four provinces.

Cosatu strike today

[img:Strike3_0.jpg|Impala Platinum –
one of the mines
which could be hit
by today’s strike
]Johannesburg, South Africa --- MININGREVIEW.COM --- 23 July 2008 - South African unions are staging a one- day strike in four provinces today, possibly cutting production at mines owned by the two largest platinum producers, Anglo Platinum Limited and Impala Platinum Limited.

Platinum prices soar

[img:Platinum2_2.jpg|A convertor furnace
at Impala Platinum’s
Mineral Processes
]Johannesburg, South Africa --- MININGREVIEW.COM --- 22 July 2008 - South African platinum stocks boosted the bourse as the price of the precious metal soared off a two-month low yesterday, with Impala Platinum and Anglo Platinum leading the blue-chips higher.
 
Reporting from here, Reuters quotes BoE Private Clients trader Andrew Todd as saying: “There's a bit of an up-tick in the price of the metal, and there's also bargain hunting. These shares have been hit very hard over the last couple of weeks as people shifted from resources into financial. I think this was overdone,” he added.

Zambian mines must cut power usage

[img:Zampower1_0.jpg|Zesco will not cut
power to Zambian mines
]Lusaka, Zambia --- MININGREVIEW.COM --- 21 July 2008 - Zambian state power utility Zesco has urged the country’s copper producers to minimise power consumption during peak demand periods, and has undertaken to step up rationing to other consumers because of problems with generators.

Reuters reports from here that Zesco's efforts to upgrade generators and other equipment have led to power shortages that have sporadically affected copper and cobalt mines, which are vital to the economy of the Zambian economy.

No more power cuts, says Eskom

[img:Power%20tower%20-%20Pic%201_0.jpg|Eskom’s power stations
should manage this
winter without
electricity cuts
]Johannesburg, South Africa --- MININGREVIEW.COM --- 21 July 2008 - Good news for South African mines, among others, is that state-owned power utility Eskom has expressed confidence that South Africa will get through winter without power cuts, and added that it would tap bond markets to help raise the US$19.8 billion (R159 billion) required for its future expansion.

New smelters planned for SA

[img:Braemore1%20-%20Pic%201_0.jpg|Overview of Braemore
furnace showing slag
moulds
]Johannesburg, South Africa --- MINING REVIEW.COM --- 17 July 2008 - Braemore Resources plc – an AIM-quoted company aiming to become a top ten international nickel and platinum group metal producer – has combined the start of trading on the JSE with a move towards significant future developments in South Africa.

Rio Tinto sets production records

[img:Rio2%20-%20Pic%201_0.jpg|One of Rio Tinto’s many
and varied mining
operations across
the globe
]London, England --- MININGREVIEW.COM --- 17 July 2008 - Rio Tinto – a London and New York-listed international mining group headquartered in the United Kingdom – has set quarterly production records for iron ore, mined copper and alumina in the second quarter of 2008, thanks to increasing investment in growth projects.

Concern over re-negotiation of DRC mining contracts

[img:Congo24_0.jpg|Downtown Kinshasa,
capital of the DRC
]Kinshasa, DRC --- MININGREVIEW.COM --- 16 July 2008 - Renegotiation of mining contracts in the Democratic Republic of Congo (DRC) should not continue before proper policies and procedures have been put in place, according to a prominent American human rights group.

A ministerial panel is set to start renegotiating 62 mining contracts this month as part of a DRC government initiative to boost revenue from the mining industry.

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