Platinum today: News/Miscellaneous

Impala Platinum names Terence Goodlace as new CEO

Tue, 31 Jan 2012 00:00:00 GMT

Metorex's Terence Goodlace will take over as chief executive officer of Impala Platinum (Implats) from July 1st following the resignation of David Brown.

Currently CEO of Metorex Limited, which delisted from the JSE on January 16th following the successful takeover by Jinchuan Group Limited, Goodlace brings 30 years mining experience to the role.

He has previously held a number of senior strategic and operational positions with Gold Fields Limited, including membership of their executive committee and head of international and South African operations.

Implats chairman Dr Khotso Mokhele said: "Terence, who has served on the board since August 2010, brings a wealth of mining knowledge to the company and will be a great asset to the Implats team."

Brown announced a fortnight ago his intention to step down as Implats CEO to pursue his own interests.

Sources:

Impala Platinum appoints Goodlace as CEO (31/01/12)

Resignation of Chief Executive Officer and Executive Director of the Board (18/01/12)

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Latest issue of Platinum Metals Review focuses on sustainability

Fri, 27 Jan 2012 00:00:00 GMT

Sustainability is important to all of us in the present climate, and it is a theme which features heavily in the latest issue of Platinum Metals Review, the quarterly journal of research on the science and technology of the platinum group metals published by Johnson Matthey.

In the new issue, an article by Dr Gavin M. Mudd of Monash University, Australia, focuses on the sustainability reporting metrics of the pgm mining industry and what the industry is doing to address global energy, water and environmental considerations.

Later in the issue, an article by Dr Christian Hagelüken of Umicore AG & Co KG, Germany, discusses the European recycling situation with regards to recovering the value inherent in the pgms.

New pgm technologies which will address our future energy needs also feature in the latest issue, with a conference review covering artificial photosynthesis using pgm-containing complexes to capture the energy in sunlight.

PGMs also contribute to the health and wellbeing of individuals and society, nowhere more so than in the field of emissions control. The issue’s Final Analysis article looks at opportunities for pgms in future emissions control technology.

The latest issue of Platinum Metals Review is available to download, free of charge, from: http://www.platinummetalsreview.com

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Queen's Diamond Jubilee UK platinum coin unveiled

Wed, 25 Jan 2012 00:00:00 GMT

The Royal Mint has unveiled a 94.2g platinum coin to commemorate the Queen's diamond jubilee.

Made from 0.9995 platinum, the Queen's Diamond Jubilee UK Platinum Proof Coin celebrates the 60th anniversary of her accession to the throne this year.

Only one other monarch has reigned as long, Queen Victoria, and the piece is the first-ever diamond jubilee platinum coin to be minted.

The £5 coin, which will costs £6,400 to purchase, was minted in platinum on double thickness blanks to the highest Piedfort Proof quality.

Just 250 of the coins, which feature two new portraits of the Queen created especially for the Diamond Jubilee by Ian Rank-Broadley, will be minted.

The Royal Mint said: "The importance of this platinum Piedfort Proof coin struck by The Royal Mint cannot be overestimated, as collectors hurry to add this prestigious coin to their collection."

"It is also a tasteful and long-lasting keepsake of the Diamond Jubilee that will be treasured forever."

Source:

The Queen's Diamond Jubilee UK Platinum Proof Coin

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Saint-Gobain unveils platinum-cured silicone hose

Tue, 24 Jan 2012 00:00:00 GMT

Saint-Gobain has unveiled a new high-purity hose that features multiple layers of platinum-cured silicone.

The firm has expanded its Sani-Tech line of fluid transfer products with the Ultra-HP high purity hose, which combines a tough outer jacket and hose comprising multiple layers of Sani-Tech Ultra platinum-cured silicone and 316L stainless steel helical wire reinforcement with a PharmaFluor FEP liner.

The smooth inner bore surface of the liner provides optimal flow and makes cleaning easy, the firm said.

In a release, Saint-Gobhain explained: "The PharmaFluor FEP liner minimises bonding of biological materials and maintains fluid purity due to low TOCs, extractables and leachables.

"The liner is fully bonded to the silicone hose utilising patented bonding technology, which helps ensure a high purity fluid path."

It is manufactured to "tight dimensional tolerances", making assembly simple, while its lightweight design, low force to bend and "exceptional" flexibility make it very user-friendly.

The hose can be used in a range of applications, including bioprocessing, load cells, product transfer and steam-in-place/clean-in-place.

Source:

Saint-Gobain Adds High Purity Hose Option to Sani-Tech® Line (23/01/12)

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Exploration Roundup January 2012

Tue, 17 Jan 2012 00:00:00 GMT

Update on Eastplats Projects (19/12/11)

Eastern Platinum (Eastplats) said mine development projects at the Zandfontein Section of its Crocodile River Mine are on track with the new infrastructure for underground ore and waste handling installed.

Decline development work and conveyor installations at the Maroelabult Section of the mine is also on schedule, with the mine life of this section extended by two years until 2016.

However, despite intersecting the UG2 reef and a bulk sample being mined at the Crocette Section, further development work on this section will cease until there is a "significant increase" in prices.

Production at CRM is forecast at 125,000 platinum group metal ounces in 2012.

On the Eastern Limb of the Bushveld Complex, the firm said the Kennedy's Vale mill complex near Steelport, which will commission with ore from the Mareesburg mine, is tracking on schedule and budget. Full production will commence in Q1 2013.

At full production, the mine is forecast to produce approximately 100,000 pgm ounces a year.

"We anticipate a 100 per cent increase in annual production over 2011 production by the end of 2013," said Ian Rozier, president and chief executive officer.

Eastplats Increases Equity Interest in Lion's Head Platinum and Ownership in the Mareesburg Platinum Project (22/12/11)

Eastplats has increased its interest in the Mareesburg platinum project to 37 per cent after purchasing a further 23 per cent interest in Lion's Head Platinum (Proprietary) Limited , which owns a 100 per cent interest in the mine.

"With the ongoing development of the low cost Mareesburg/Spitskop facilities, we are very pleased that we have been able to increase our equity position in Mareesburg," said president and chief executive officer Ian Rozier.

"Mareesburg is progressing well and is an important step in our growth strategy of reaching target production by the end of 2013 of 225,000 PGM ounces for the group."

Sunergy Announces Further Analytical Results for Its Pampana River Heavy Mineral Sands and Discovers Additional Platinum Group Metals (PGM's) and Silver in Potential Economic Amounts (04/01/12)

Sunenergy reports that its Pampana Heavy Mineral Sands project in Sierra Leone contains potentially economically viable quantities of platinum, palladium and silver, in addition to known amounts of gold and rare earth elements.

Overseeing the results was Advisory Board member Alexander Beckmann, who explained that platinum group elements "may exist in a fraction that we may have previously overlooked".

Results have ranged from four grams per ton to upwards of 100 g/t for palladium and over ten grams per ton for platinum.

"Once we have determined the highest and best methods for recovery and separation we will evaluate the feasibility of setting up a process facility near our Pampana operation," added Mr Beckmann.

Village Main’s platinum project progresses to DFS (10/01/12)

Village Main Reef has announced positive results from a prefeasibility study (PFS) of its Lesego platinum project in South Africa.

A definitive feasibility study is to follow with an updated resource from 700m to 350m below the surface and increased indicated and measured resources.

This will be completed by the end of the year, with development work to start in 2014 and ramp-up to full production taking place through to 2019.

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Sprott announces new platinum, palladium fund

Mon, 16 Jan 2012 00:00:00 GMT

Sprott Inc is to launch a new $115 million physically-backed exchange-traded fund (ETF) investing in platinum and palladium.

It will allow retail and institutional investors to gain exposure to metal spot prices without having to collect and store the metals, Reuters reports.

The ETF will be a long-term consideration and will not involve short-term speculation on price fluctuations, according to a preliminary prospectus lodged at the US Securities and Exchange Commission last week.

Differing from traditional ETFs that issue and redeem units daily, the Sprott fund will allow investors to redeem a minimum of 25,000 units on a monthly basis and can redeem the physical metal.

Strong demand from the auto and jewellery markets in recent years has resulted in the price of platinum doubling over a decade.

Similarly, industrial and consumer interest in palladium has caused its value to surge three-fold over the last ten years.

Sprott will issue 11.5 million shares worth $10 each. Reuters notes that this would equate to around 7,666 oz of platinum or 18,200 oz of palladium.

Output in 2010 was 6.05 million ounces of platinum and 7.36 million ounces of palladium

Figures from Johnson Matthey show 10,000 oz of physical palladium and platinum equates to 0.13 per cent and 0.11 per cent of global supply in 2010.

The metal will be held at the Royal Canadian Mint.

Source:

UPDATE 2-Sprott plans physically backed platinum, palladium fund (14/01/12)

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