Platinum – The Easter weekend brought the tabling of a new wage offer for striking South African platinum miners, and since then, talks between the miners and affected companies have resumed; however, so far, negotiations have failed to yield significant results.
Articles Tagged "South Africa"
Platinum – Bloomberg reported yesterday that platinum took its biggest fall in three months on news that South African miners may be making progress in an ongoing dispute with workers. Platinum futures for April delivery dropped by 2 percent to $1,400.70 an ounce on the New York Mercantile Exchange, according to Bloomberg.
Palladium – Bloomberg reported yesterday that palladium prices dropped the most in nine months following news of talks moving forward in an ongoing labor dispute between workers and South African miners. NYMEX palladium futures for June delivery fell 3.6 percent, to $777.80 an ounce, early in the afternoon.
Platinum – Reuters reported today that talks are set to continue between platinum producers Anglo American Platinum (JSE:AMS), Impala Platinum (JSE:IMP), Lonmin (LSE:LMI,JSE:LON) and South Africa's AMCU union. The groups plan to meet this morning in an attempt to resolve a three month impasse between workers and platinum mining companies in the African nation, according to Reuters.
Platinum – Bloomberg reported today that Morgan Stanley predicts the worldwide platinum deficit, augmented by over three month long miner strikes in South Africa, could last four years before it gets corrected.
Iron – Reuters Africa reported that South African iron ore producers Assore and Kumba have seen their stocks come back with roughly 3.5 percent gains on spiking iron futures.
Platinum – Bloomberg reported that Sibanye Gold (NYSE:SBGL) is open to purchasing platinum mines after wage strikes end in South Africa.
Platinum – Striking at the operations of South Africa's three major platinum miners is negatively impacting everything from the miners' profits to local businesses. Prices, however, have thus far been largely exempt.
Platinum – Bloomberg reported that despite a 10-week strike at its South African operations, Anglo American Platinum Ltd. (OTCMKTS:AGPPY) still has enough platinum to supply its customers.
Platinum – Mining Weekly reported yesterday that South Africa's Association of Mineworkers and Construction Union (AMCU) is prepared to keep striking for another six months at the operations of major miners Anglo American Platinum Ltd. (OTCMKTS:AGPPY), Lonmin plc (LSE:LMI) and Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY).