Asset manager Coronation has changed its position on platinum group metals (PGMs), acquiring a 5.07% stake in Northam Platinum, just a year after labeling the sector a “value trap” due to declining prices and demand. Northam informed the market of the acquisition on Thursday, marking a significant shift for Coronation, which had previously recommended disinvesting...
READ MOREThe Public Investment Corporation (PIC), Africa’s largest asset manager, has increased its stake in Sibanye-Stillwater, now holding over 15% of the diversified mining company. This move signals confidence in Sibanye-Stillwater’s long-term growth, particularly in light of its promising lithium project in Finland, which has recently received financial backing through a R10 billion green loan package....
READ MORE**TerraVolta Resources Secures $225 Million for Lithium Project** The US Department of Energy has awarded a $225 million grant to TerraVolta Resources for its Liberty Owl project, which aims to extract lithium from formation water in hydrocarbon fields located in Texas and Arkansas. The project, with an estimated capital investment of over $1 billion, is...
READ MOREPlatinum group metals (PGMs), including platinum and palladium, are experiencing a renewed surge in demand, driven by the rising sales of hybrid vehicles. The shift in the automotive industry toward plug-in hybrids, as opposed to pure electric vehicles (EVs), is reversing the decline in PGM usage seen over the past few years. PGMs, which are...
READ MOREDespite an increase in production from South African platinum producers, the global platinum market is expected to remain in deficit in 2024, according to the World Platinum Investment Council (WIPC). South African producers such as Impala Platinum (Implats), Sibanye-Stillwater, Anglo American Platinum (Amplats), and Wesizwe Platinum have been restructuring their operations in response to low...
READ MOREAnglo American has raised approximately $400 million through the sale of shares in its platinum subsidiary, Anglo American Platinum, as part of a broader restructuring effort. The mining giant sold 13.94 million shares, representing a 5.3% stake in the subsidiary, at a price of 515 South African rand ($27.30) per share. This sale was made...
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Sibanye-Stillwater is set to report a significant drop in its interim earnings for the first half of 2024, with profits expected to plummet by nearly 100%. The company’s gold production decreased by 21%, while prices for platinum group metals (PGMs), particularly palladium, remained under pressure. Additionally, the company has recorded a R7.4 billion (USD 420...
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Impala Platinum Holdings, the world’s second-largest platinum miner, has reported a significant swing to a loss for fiscal 2024, as anticipated, due to a series of impairments. The company announced a basic loss of 17.31 billion South African rand (approximately $970.9 million USD) for the year ended June 30, compared to a profit of 4.905...
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Nornickel has released its financial results for the first half of 2024, showing a significant decline in revenue and profits. According to the report, the company’s revenue dropped by 22% to $5.6 billion, while net income fell by 23% to $829 million. Free cash flow also saw a sharp decrease of 61%, totaling $525 million,...
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Nornickel has announced its production results for the first half of the year and the second quarter of 2024. According to its statements, the company’s nickel smelting remained almost unchanged at 90,000 tons for January-June 2024. Copper output increased by 7% to 219,000 tons. Palladium output was stable at approximately 1.5 million troy ounces, while...
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