Anglo American Platinum has stopped production at its Waterval smelter in South Africa after a leak was detected on Saturday.
According to the press release:
All emergency procedures, including actions to safeguard all site personnel, were successfully implemented and no one was injured.
A preliminary assessment of the damage to the furnace has
Business Day Live reported that Jean Nel, former CEO of Aquarius Platinum (ASX:AQP) will head the platinum division of Sibanye Gold (NYSE:SBGL).
As quoted in the publication:
In a restructuring of the Sibanye company into three divisions as it becomes a multi-commodity business, the company has appointed three experienced heads of each
Platinum Group Metals Ltd. (TSX:PTM,NYSEMKT:PLG) announced that the Maseve platinum mine completed a 72-hour test run during the hot commissioning of its concentrator facility.
Mining Weekly reported that Sibanye Gold (JSE:SGL) of Anglo American Platinum’s (JSE:AMS) Rustenburg platinum assets.
Reuters reported that Zimbabwe’s Chamber of Mines has advised the country to cut royalties for platinum miners Anglo American Platinum (JSE:AMS) and Impala Platinum (JSE:IMP).
Bloomberg reported that Anglo American Platinum (JSE:AMS) will see its profit drop 20 percent this year amidst weak platinum group metals prices. Overall, Amplats is planning $976 million of asset writedowns.
Reuters reported that Sibanye Gold (NYSE:SBGL) has reiterated its commitment to acquisitions of platinum assets in South Africa, despite lower platinum and palladium prices this year.
Here’s a look at platinum stocks outside of South Africa. We’ve also included a few platinum stocks within the country, but beyond some of the larger South African producers.
Sibanye Gold (NYSE:SBGL) has stated that the recent Volkswagen diesel emissions scandal won’t hurt platinum prices as much as many are expecting, Mining Weekly reported. Sibanye recently bought Anglo American Platinum’s (JSE:AMS) Rustenburg operations in South Africa, and has also acquired Aquarius Platinum (LSE:AQP).
Bloomberg reported that platinum futures hit their highest price in two weeks, on supply concerns for the metal. According to the publication, platinum futures for January delivery touched a two week high of $955.50 per ounce on the New York Comex, and were trading at $944.90 by 10:22 a.m. EST.
Bloomberg reported that palladium prices rose this week in light of protests disrupted South African supply. Community members were protesting at mines owned by Anglo American Platinum (JSE:AMS) in the country.