Platinum mining
South Africa is the world's leading platinum producer and the second largest palladium producer after Russia. Platinum mining is a capital and labour intensive industry. On average, it takes six months and 7 to 12 tonnes of ore to produce just one troy ounce (31.135 grammes) of platinum. Iridium, rhodium, ruthenium and osmium are produced only as co-products of platinum and palladium and are not mined separately. Platinum and palladium are found in larger quantities.
Platinum mining in the news
RMB Sells Platinum Stocks, Favors Diversifieds, McCurrie Says (Bloomberg)
March 11 (Bloomberg) -- RMB Asset Management sold platinum- stock holdings over the last two months in favor of shares in diversified mining companies such as BHP Billiton Ltd., Wayne McCurrie, an asset manager, said by phone from Johannesburg today.
Stillwater Mining negotiating palladium contract with Ford (KTVQ Billings)
The Stillwater Mining Company says it is negotiating its contract with the Ford Motor Company. The current contract expires at the end of the year and includes minimum prices Stillwater receives for its Platinum Group Metals from Ford.
SA firm explores coal mining opportunities in Zim (The Herald)
INDUSTRIAL Development Corporation South Africa is reportedly exploring for coal mining opportunities in Zimbabwe as offshore firms jostle for space ahead of the announcement of fresh mining legislation expected to boost investor confidence.
PLATINUM GROUP METALS (Mineweb)
Palladium is an appealing investment because future jewelry and industrial demand will be strong, Norilsk Nickel ( GMKN.MM ), the world's largest palladium producer, told the Reuters Global Mining and Steel Summit.
If PolyMet meets its commitments, the DEIS suggests that its proposed mine poses no serious environmental impact (MinnPost)
One of the most controversial Minnesota projects in recent years is the proposed PolyMet mine on the Iron Range. The NorthMet Project calls for surface mining and mineral processing of approximately 228 million tons of copper-nickel-Platinum Group Element (PGE) ore over approximately a 20-year mine life.
COMPANY RELEASES (Mineweb)
Platinum Australia (AIM: PLAA; ASX: PLA ) says that underground mining operations recommenced at its Smokey Hills Mine in South Africa on Monday 8th March.
Research and Markets: The Global Metals and Mining Industry Grew By 8.5% in 2008 to Reach a Value of $1,661.4 Billion (Business Wire via Yahoo! Finance)
DUBLIN----Research and Markets has announced the addition of the "Metals & Mining: Global Industry Guide" report to their offering.
Feed Display (First Perspective)
No Feed URL specified. QUEEN’S PARK – Howard Hampton, NDP MPP for Kenora—Rainy River, today said that if the McGuinty government wants to develop the mining potential of the Ring of Fire region, it must begin with an open and honest consultation and accommodation of the rights and interests of the First Nation communities who live there.
Feed Display (First Perspective)
No Feed URL specified. “Kasabonika Lake First Nation has dozens of members of their community who are trained in prospecting and mining exploration. How many of those people are being employed by the companies who are interested in the Ring of Fire? Zero,” he added.
Gentor Resources Inc. closes acquisition of APM Mining Limited (PR Newswire via Yahoo! Finance)
GENTOR RESOURCES, INC. is pleased to announce the acquisition of APM Mining Limited pursuant to the closing under the Share Exchange Agreement dated February 23, 2010 between the Company, APM Mining and Arabian Peninsula Projects Ltd.
