‘Platinum’

Despite a warning by South Africa's power utility that supply would be extremely tight this month, the country's platinum miners are confident there will be enough to power their mines. Full story

Zimbabwean platinum producer Zimplats has been accused of underpaying royalties by the Zimbabwe revenue authority and is now locked in a legal battle to fend off a $28 million claim for outstanding payments. Full story

Eastern Platinum Limited (the “Company” or “Eastplats”) is pleased to report that further to its press release of February 1, 2011 announcing the receipt of letters of commitment for a debt facility, it has now signed a definitive agreement with UniCredit Bank AG, London Branch and Standard Finance (Isle of Man) Limited (a subsidiary of The Standard Bank of South Africa Limited) for a ... Full story

%content%Read more here:Zimbabwe considering a ban on raw platinum exports Full story

Bloomberg reports carmakers will use a record 3.82 million ounces or $7 billion of platinum in catalytic converters next year – 17% more than this year – diminishing oversupply to 81,000 ounces from 295,000 ounces. Helped by the first contraction in mine output – albeit a slight 1% – since 2008 according to Barclays Capital, prices will average $1,845 an ounce in the fourth ... Full story

Palladium, used mostly in catalytic converters for vehicles, beat most other commodities this week after US car sales expanded at the fastest pace in more than two years. Full story

IB Times reports South Africa’s biggest mine union said on Friday it had sealed a 2-year wage deal with Lonmin, averting a possible strike against the world’s third largest platinum producer. World number one and two Anglo American Platinum and Impala Platinum clinched similar deals earlier this year, significantly removing threats of labour unrest to 75% of the global production. The price of platinum ... Full story

One of the more unique lots at Christie’s Magnificent Jewels auction on November 29 in Hong Kong is likely to be a set of poker chips made by the Swedish artist and jeweller Kristian Ståhl. The outer frames of the 120 chips are made of 18K white gold and are set with a total of 5,160 calibrated top-quality gems, including diamonds, rubies and sapphires Full story

Implats reported Friday that a search mission was underway at its Rustenburg operation in search of two trapped workers and had stopped work at the affected shaft. Impala Platinum, the world's second-largest producer of the precious metal, said on Friday Full story

During Q1 Implats production fell 12% due mostly to planned operational outages. Gross platinum production was 388,000 oz compared to 441,000 during the same quarter a year ago. Palladium also declined in line with platinum, coming in at 251,000 oz compared to 285,000 year ago Full story