Chinese want to buy SA platinum assets on the cheap after strikes

platinum ingotsBloomberg reports that China’s Long March Capital Ltd., which partners with Citic Group Corp., is considering buying South African platinum assets after their value was depressed by strikes, the company’s Managing Partner Clement Kwong said.

The company is now reviewing … Read the rest

Quadrupled recycled platinum supply driving mining price down

A significant increase in the supply of platinum from recycling, a strong fall in demand for autocatalysts and price-elastic Chinese jewellery demand are combining to hobble the platinum mining industry.

 (Amplats) CEO Chris Griffith tells Mining Weekly Online in the … Read the rest

Two more miners killed by police, one dragged by armoured car

RUSTENBURG, South Africa (AP) — Days after soldiers were deployed, South African President Jacob Zuma’s office announced Thursday he has ordered military forces to assist police trying to control labor unrest in the nation’s crucial mining sector. Despite resolution of … Read the rest

Police fire rubber bullets at Amplats miners

Police used rubber bullets and teargas to disperse a group of people gathered near Anglo American Platinum (Amplats) in Rustenburg on Wednesday, said a spokesman.

“Police dispersed people trying to gather illegally. As we have said, we are not tolerating … Read the rest

Amplats miners striking for R16 070 per month

Striking Anglo American Platinum (Amplats) mineworkers demanded pay of R16,070 a month at a meeting at the Blesbok stadium in Rustenburg on Thursday.

This was according to Gaddafi Ndoda, who described himself as a member of a newly formed workers’ … Read the rest

ANC tries to reassure ‘panicking’ international community about South Africa

ANC secretary general Gwede Mantashe has denied there was wide-spread panic over recent violent protests countrywide.

“I’m not sure what’s the difference between panic and caution. If they take cautionary measures to avoid the damage and deaths of people that … Read the rest