The latest PALLADIUM news on the web
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Mining news: PALLADIUMNew Zimbabwe mining law will lead to re-evaluation of all mining contractsZimbabwe will re-evaluate all mining contracts and introduce a ‘use it or lose it’ policy for its mining industry under a proposed law, Finance Minister Tendai Biti told Reuters on Friday. The vetting of mining contracts by Zimbabwe’s unity government of Platinum discovery from North American PalladiumTORONTO: North American Palladium has announced the discovery of a new underground platinum group minerals (PGM) zone at its Lac des Iles mine near Thunder Bay, Ontario. The new zone, named the Cowboy Zone, was discovered during a pre-feasibility study. NA Palladium finds new PGM zone at Lac des IlesTORONTO (miningweekly.com) ? For a company that halted its only producing mine a good eight months ago, Toronto-based North American Palladium is doing a fine job of maintaining a steady flow of good news to the market. First. the firm announced in Eskom Wins 31% Tariff Gain, Spurring Inflation, CostsEskom Holdings Ltd., South Africa’s state-run power supplier, won an average 31.3 percent interim tariff increase from the regulator, pushing up electricity bills for miners and smelters, and adding to the country’s inflation. Why platinum and palladium prices have risen despite GM bankruptcyIt may seem strange that platinum and palladium prices have been on the rise given the turmoil in the U.S. Auto industry and the GM bankruptcy Gold prices sink to three-week lows as dollar reboundsNew York (Platts)–12Jun2009 Gold prices plunged Friday in the spot and futures markets to their lowest levels in three weeks and led the precious metals complex on a downward path. Silver, platinum and palladium all declined in tandem with gold. Mining resumes at Platmin s Pilanesberg mineJOHANNESBURG (miningweekly.com) ? Mining activities at TSX-listed junior-miner Platmin?s Pilanesberg mine in South Africa?s Bushveld Complex resumed on Friday. South Africa?s Inspector of Mines, on June 5, ordered the temporary suspension of SOUTH AFRICA: Mining and water safety do not mixEvery day 300 million litres of water laced with sulphuric acid and heavy metals, known as acid mine drainage (AMD), bubbles to the surface around South Africa’s biggest city, Johannesburg. Lundin gets month-long creditor extensionLenders to Lundin Mining Corp (LUN.TO) have agreed to extend a debt covenant waiver until next month, the company said on Thursday. Read more. DJ Norilsk Eyes Acquisitions In Metals, MiningRussian mining giant OAO Norilsk Nickel (GMKN.RS) is planning to use the proceeds from the sale of its minority stakes in power generating companies on acquisitions of “core” assets. Read more. Palladium, rhodium may come to fore as smaller petrol cars are targetedThe determination of the world to reduce ?its carbon footprint could have an ?impact on the palladium price, which currently lags many times behind the platinum ?price. The current environmental framework is tending to emphasise the curtailment of PRECIOUS-Gold firms on weak dollar before ECB decision* Dollar lifts from lows vs euro ahead of ECB * U.S. non-farm payrolls also in focus * SPDR ETF dips; ETFS silver, palladium assets hit records (Releads, updates prices) LONDON, June 4 (Reuters) - Gold was firmer in Europe on Thursday as the dollar GM bankruptcy watched by Stillwater MiningAn official at Stillwater Mining Co., which sells platinum and palladium for use in automobiles’ catalytic converters, says the company is monitoring the General Motors bankruptcy to see if Stillwater-GM contracts will be honored. Stillwater Mining Mitsui lifts 2009 precious metals price forecastsMitsui Global Precious Metals lifted its 2009 price forecasts for platinum, palladium and silver on hopes a stablisation of the economic downturn will help the demand outlook for the industrial precious metals. It also raised its price view for gold, Mitsui lifts ‘09 precious metals price forecastsBy Jan Harvey of Reuters LONDON - Mitsui Global Precious Metals lifted its 2009 price forecasts for platinum, palladium and silver on hopes a stablisation of the economic downturn will help the demand outlook for the industrial precious metals. It also Russia’s platinum group metal producersAlmost all of Russia’s platinum group metals are supplied by three mining companies and from state reserves. * Norilsk Nickel, the world’s largest palladium miner, forecasts output of palladium at 2.610-2.625 million ounces in 2009 and platinum at Platinum price could rise to $1 350/oz, palladium up to $280/oz ? Johnson MattheyJOHANNESBURG (miningweekly.com) ? Any improvement in the economic environment could help to drive the price platinum as high as $1 350/oz within the next six months, Johnson Matthey said on Monday. Any rise in commodity investment could see palladium Platinum and palladium - the ‘other’ precious metalsAs a South African I have long had a particular interest in platinum, even in 1988 prematurely launching the world’s first newsletter devoted to investing in it, with an annual subscription that was uniquely priced at one ounce of the metal. Platinum is Premium Exploration Signs Geologist & Road Access Contracts for High-Grade Gold Drill Program in IdahoVANCOUVER, BRITISH COLUMBIA–(Marketwire - May 13, 2009) - Premium Exploration, Inc. (TSX VENTURE:PEM) (”Premium”) is pleased to announce it has signed a contract for minor road development to access new drill sites for the Phase-One High-Grade Gold Drill Program at the Friday-Petsite drill target in Idaho, USA. Premium also welcomes Mike Ostenson, an experienced gold, platinum and palladium exploration geologist to Premium’s geological team. Highlights from historic drilling at the high-grade zone: Copper LME resistance at $4767Gold Mining| Copper | Amazon | Swine Flu | Commodity Market | China Gold | Bullion Market | Earth Day | Hindustan Zinc | MMTC | Gold ETCs | Metals | Gold Sales | Akshaya Tritiya | Platinum ETF | Gold Price | LME | Palladium | Old Gold | Gold Stocks | |
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