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Mining News: PLATINUMUPDATE 1-Mvela Resources says no talks with Aquarius, LonminLONDON, Sept 8 (Reuters) - South Africa’s Mvelaphanda Resources denied on Monday it was in talks with Aquarius Platinum about a possible merger with the world’s No.3 platinum producer Lonmin. ‘At the moment we haven’t had discussions with Aquarius about Mvela denies platinum consolidation talks with Aquarius over LonminMvelaphanda Resources has denied discussing a possible three-way merger with Aquarius Platinum and Lonmin. MORE PAIN FOR PLATINUM STOCKS - Brendan RyanExtract not available. LonminLONMIN is exploring a three-way merger with two rivals to create the world’s second-biggest platinum company and evade being taken over by mining giant Xstrata, the Sunday Telegraph reported. The secret talks which started several weeks ago involve a Booysendal - platinum belle of the ballThe outcome of the platinum party currently underway will determine the path of the sector for the next 50 years. Platinum miner Lonmin in merger talks to stymie Xstrata bidMedia reports say Lonmin, Aquarius, Mvela could merge in a move to try and fight off hostile bid from Xstrata. Lonmin in secret talks to evade XstrataBy Louise Armitstead and Mark Kleinman Lonmin is exploring a three-way merger with two rival groups to create the world’s second-biggest platinum company as a radical alternative to being taken over by Xstrata, the mining giant. The secret talks, which Wesizwe PtPLATINUM explorer Wesizwe Platinum on Friday reported a narrowing in its interim loss to R20.3m for the six months to end-June 2008 from R61.7m in the same period the year before. A basic loss per share of 0.04 cents was reported for the first half of Lonmin stock price suggests Xstrata may not need sweetener in platinum bid battleLonmin’s share price dipped to below the company’s proposed bid price of £33/share for the company today, perhaps indicating the market does not expect counter offers or Xstrata to raise its bid. More pain for platinum stocks[miningmx.com] — PLATINUM shares continued to tank today on the JSE including even Lonmin whose price has been underpinned by Xstrata?s hostile takeover offer of ?33 a share. Lonmin had been trading recently at around ?34.50 but it pulled back New water research questions Actionaid findingsWater testing techniques including water isotope analysis have raised questions regarding the accusations made earlier this year by international pressure group, ActionAid that Anglo Platinum mining operations pollute the drinking water of the Ga-Molekana and Ga-Pila communities in Limpopo, South Africa. Xstrata sweetener could win Lonmin in platinum bidEven though it appears to have the field to itself, the market seems to think a small increase to Xstrata’s bid for Lonmin could win the day. Lonmin[miningmx.com] — Platinum producer Lonmin on Wednesday issued global diversified miner Xstrata until October 2 to formalise its $10bn (R139bn) takeover offer for its company or back off, said I-Net Bridge citing a statement from the UK platinum miner. Xstrata must “put up or shut up’[miningmx.com] — THE UK Panel on Takeovers and Mergers has told Xstrata CEO Mick Davis to ?put up or shut up? by October 2 on the firm?s pre-conditional offer for platinum group metals producer Lonmin. This follows representations to the panel by IMPALA PLATINUM DOWN 3.93% - REUTERS, BLOOMBERGExtract not available. Gold firms above $800after falling to its weakest in two weeks below $800 an ounce the previous day, but gains may be capped by a firming U.S. dollar. Platinum bounced after tumbling to its lowest level in nearly two weeks but poor car sales weighed on sentiment and dealers Gold firms above $800; off 2-week lowsafter falling to its weakest in two weeks below $800 an ounce the previous day, but gains may be capped by a firming U.S. dollar. Platinum bounced after tumbling to its lowest level in nearly two weeks but poor car sales weighed on sentiment and dealers Gold firms above $800; off 2-week lowsBy Lewa Pardomuan SINGAPORE (Reuters) - Gold advanced on bargain hunting on Wednesday, after falling to its weakest in two weeks below $800 an ounce the previous day, but gains may be capped by a firming U.S. dollar. Platinum bounced after tumbling to Lonmin invites suitors to the tableBy David Litterick Lonmin chairman Sir John Craven said yesterday that his was not an ‘independent at any price’ company and urged any potential bidder to ‘come forward and put their best offer on the table’. He was speaking as the platinum miner Anglo Platinum[miningmx.com] — Anglo Platinum, the world’s largest platinum producer, on Tuesday said that it has appointed Bongani Nqwababa as its new chief financial officer (CFO), said I-Net Bridge citing an announcement by Anglo Platinum. The news comes just |
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