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Platinum Group Metals News
Mantashe warms to Anglo plan after opposing BHP bid
By: Bloomberg 14th May 2024 South Africa’s mines minister struck a conciliatory tone as Anglo American Plc announced plans to separate its platinum unit as part of a major shakeup following its rejection of two approaches from BHP Group. “It is their strategy and they must do anything that will optimize value,” Mines... →
All-round value unlock targeted in proposed demerging of Anglo Platinum and De Beers 
By: Martin Creamer 14th May 2024 Diversified mining major Anglo American is targeting value elevation in its planned demerging of South Africa-based Anglo American Platinum (Amplats) and the envisaged divestment or demerger of Southern Africa-dominant De Beers. In rejecting BHP’s second takeover offer, Anglo intends reshaping... →
PGMs to face continued supply constraints, low prices – report
By: Darren Parker 14th May 2024 Precious metals consultancy Metals Focus’ new ‘Platinum Group Metals (PGM) Focus 2024’ report, which offers a comprehensive analysis of the PGM industry, indicates that the rest of the year will be defined by persistent supply constraints, coupled with robust demand, leading to another year of... →
Investors expect BHP to lift Anglo American offer again
By: Reuters 14th May 2024 BHP is likely to sweeten its $43-billion takeover offer for Anglo American for a second time and possibly add cash, investors in both companies said on Tuesday, after the London-headquartered target rejected a higher bid. Anglo said the improved all-share offer, up 10% from BHP's initial... →
Analysts highlight concerns over valuation, regulatory hurdles in BHP-Anglo proposal
By: Mariaan Webb 14th May 2024 The rejection – for the second time – of BHP’s attempt to propose a deal with Anglo American underscores the concerns that continue to persist regarding value and regulatory hurdles in the proposed transaction. Responding to the latest developments in the BHP-Anglo takeover, CreditSight analysts... →
Green energy presenting South Africa with massive reindustrialisation chance – Nedbank 
By: Martin Creamer 13th May 2024 Green electrons and green molecules are presenting South Africa with a massive opportunity to reindustrialise, Nedbank CIB head of infrastructure, energy and telecommunications Mike Peo told the Green Hydrogen Roundtable on Monday. “We have an opportunity for South Africa to completely... →
Clean Air Metals appoints new VP of exploration
By: Creamer Media Reporter 13th May 2024 Canadian exploration company Clean Air Metals has appointed Lionnel Djon as its new VP of exploration, succeeding Geoff Heggie who has left the company to pursue other opportunities. Djon has most recently led the exploration team at Impala Canada. Under his leadership, significant mineral... →
Anglo investors tell company to move faster to survive BHP bid
By: Bloomberg 13th May 2024 Anglo American’s shareholders are pushing the company to speed up the release of its turnaround plan as the 107-year-old miner seeks to present an alternative to BHP Group’s takeover bid. Anglo has been reviewing its business since mid-2023, looking at every mine in its portfolio to help reshape... →
Fantastic advance by Proudly South African manganese battery metal first-mover
By: Martin Creamer 10th May 2024 Proudly South African Manganese Metal Co (MMC) of Mbombela, Mpumalanga, is making a fantastic first-mover advance to enter the manganese battery metal market, which is progressing super-fast. To be established is a faster stream to market, which is not only ahead of the global game, but also... →
Hard disk drive demand rebound holds opportunities for platinum – council
By: Tasneem Bulbulia 10th May 2024 The market for hard disk drives (HDDs) is showing signs of a rebound after almost two years of decline, as the rapid growth in machine learning and AI are driving the need for expanded data storage, industry organisation the World Platinum Investment Council (WPIC) points out, also highlighting... →
Froneman confident PGM prices will rebound once temporary decline abates
By: Darren Parker 10th May 2024 Multinational mining and metals processing group Sibanye-Stillwater CEO Neal Froneman remains confident that the platinum group metals (PGM) price outlook is fundamentally positive and that the price gouging of late was merely a temporary phenomenon. “Our view that the fundamental outlook for... →
Sibanye reports lowest serious injury rate in its history for the first quarter
By: Darren Parker 10th May 2024 JSE- and NYSE-listed Sibanye-Stillwater has reported its lowest group serious injury frequency rate (SIFR) in its history for the first quarter, ended March 31. The SIFR of 2.19 was 15% lower than the first quarter of last year and marked the third consecutive yearly improvement for the group’s... →
Anglo American's South Africa investors open to improved BHP bid, FT reports
By: Reuters 10th May 2024 Anglo American's key South African shareholders are open to a takeover offer from BHP, with some advocating for an additional cash component to the bid, the Financial Times reported on Thursday. The investors who collectively hold more than 15% of Anglo American, told FT that BHP, the world's... →
Botswana vows to protect interests in potential BHP-Anglo deal
By: Bloomberg 9th May 2024 Botswana President Mokgweetsi Masisi vowed to protect the country’s interests, including its 15% stake in diamond giant De Beers, should BHP Group acquire Anglo American. Anglo, which rejected a BHP proposal valuing the mining company at about $39 billion, owns the other 85% of De Beers. Under... →
Johnson Matthey forecasts lower palladium, rhodium deficits, but larger platinum deficit
By: Marleny Arnoldi 9th May 2024 Chemicals and sustainable technologies provider Johnson Matthey says the palladium and rhodium markets are likely to record smaller deficits this year, while platinum is likely to record a deficit of 600 000 oz on the back of lower primary supplies. It states in its latest yearly ‘PGM Market... →
Hydrogen’s ‘irreplaceable’ role highlighted by platinum-linked venture capital provider
By: Martin Creamer 9th May 2024 The role of hydrogen in the decarbonisation of the hardest-to-abate sectors of the global economy continues to be highlighted as “irreplaceable” by AP Ventures, the independent venture capital fund focused on investing in early-stage companies that use or enable the use of platinum group metals... →
Zimbabwe aims to use FDI to develop a competitive economy by 2030
By: Schalk Burger 7th May 2024 Zimbabwe held an investment conference on May 2 and 3 in South Africa during which its officials explained that the country of 16-million people wants to use local and international investments into key sectors of its economy to further develop the country by 2030. This objective is encapsulated... →
South African unions urge Anglo shareholders to reject BHP bid
By: Bloomberg 7th May 2024 South Africa’s biggest labour union federation urged local shareholders, including the powerful Public Investment Corporation (PIC), to oppose BHP Group’s bid to buy Anglo American. The Congress of South African Trade Unions (Cosatu), which includes the National Union of Mineworkers (NUM) among... →
BHP insists Anglo American's South African assets must go in any takeover, sources say
By: Reuters 7th May 2024 BHP's plan to divest the South African assets of its target Anglo American are key to the strategy behind the proposed takeover and is expected to be a part of any revised offer, investors briefed on the miner's thinking said. The "Big Australian" was rebuffed by its smaller rival on April 26... →
Eastplats reports record revenue for 2023 financial year
By: Creamer Media Reporter 6th May 2024 JSE- and TSX-V-listed Eastern Platinum (Eastplats) has reported net income attributable to shareholders of $13.8-million for the 2023 financial year, compared with a loss of $900 000 for the 2022 financial year, mainly as a result of higher revenue. Revenue increased to a record $106.9-million,... →
Growth in platinum jewellery demand continues in most key markets
By: Sabrina Jardim 6th May 2024 In its latest Platinum Jewellery Business Review (PJBR) for the fourth quarter of 2023, marketing organisation Platinum Guild International (PGI) has reported that India’s jewellery market maintained its robust growth during the final quarter of last year, while Japan enjoyed modest gains, and... →
Anglo CEO meets South Africa's mines minister after BHP's takeover proposal
By: Reuters 3rd May 2024 Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time since the miner rejected BHP Group's $39 billion takeover bid, a source familiar with the matter told Reuters. BHP, the world's biggest-listed mining group, is privately talking... →
Platinum-based green hydrogen emerging as Winter Olympics decarbonisation pillar
By: Martin Creamer 3rd May 2024 Green hydrogen, which is generated with the benefit of the catalysis that platinum group metals (PGMs) provide, is being increasingly highlighted as a pillar of the global decarbonisation transition that is poised to save the world from ruinous climate change. News just out is that steps are... →
What’s Anglo worth? For now it’s less than the sum of its parts
By: Bloomberg 3rd May 2024 As BHP Group considers its next move, there’s one big question facing the mining world’s bankers, analysts and executives at rival producers: What’s Anglo American actually worth? Anglo’s shares are trading about 8% above the price implied by BHP’s initial proposal, which was swiftly and firmly... →
Glencore studying an approach for Anglo American, sources say
By: Reuters 3rd May 2024 Commodities group Glencore is studying an approach for Anglo American, two sources said, a development that could spark a bidding war for the 107-year old mining company. Glencore has not yet approached Anglo, one of the sources said. The discussions are internal and preliminary at this stage... →
Chinese miners see opportunities as BHP’s mega bid unfolds
By: Bloomberg 2nd May 2024 China’s leading metals companies, including its state iron ore buyer, are considering their next moves following BHP Group’s blockbuster $39-billion approach for rival Anglo American, potentially the largest mining deal in over a decade. The world’s top consumer of commodities including copper... →
BHP woos South Africa in pursuit of $39bn Anglo takeover
By: Bloomberg 2nd May 2024 BHP Group has deployed a team of senior executives to South Africa as the world’s largest miner ramps up efforts to win over government officials, regulators and local shareholders, all of whom could yet determine the outcome of its proposed tie-up with rival Anglo American. The executives have... →
South Africa's Mineral Resources and Energy Minister Gwede Mantashe
Stillwater Critical Minerals raised C$3.89m in oversubscribed placement
By: Creamer Media Reporter 2nd May 2024 TSX-V-listed Stillwater Critical Minerals has successfully completed C$3.89-million in a nonbrokered placement, surpassing expectations with a 55% oversubscription. Commodities powerhouse Glencore spearheaded the placement, with a substantial $2.1-million order. →
Anglo to meet top shareholders on BHP bid as takeover rules restrain AGM
By: Reuters 2nd May 2024 Anglo American's chair will meet its top 30 shareholders to hear views on BHP's $39-billion bid for the miner, he told an annual general meeting on Tuesday, where he was restricted from discussing the spurned offer by takeover regulations. Anglo rejected the offer on Friday, saying it was... →
Anglo American takeover price needs to surpass £30 a share, survey shows
By: Bloomberg 30th April 2024 A takeover of Anglo American would need to be pitched at more than £30 ($37.6) a share, a higher price than BHP Group offered last week, according to analysts and traders surveyed by Bloomberg. Anglo American shares are trading above the value of BHP’s rebuffed $39-billion takeover proposal, a... →
As BHP weighs firm bid for Anglo, investors fret over cherry-picking assets
By: Reuters 30th April 2024 BHP Group can't cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, concerned that they stand to lose heavily by holding shares in South African subsidiaries. The world's No. 1 miner is weighing up its next move after its initial $39-billion takeover... →
A hydrogen-powered truck in operation at Anglo American Platinum's Mogalakwena mine
Implats platinum group metals output up amid robust demand but lacklustre pricing
By: Martin Creamer 30th April 2024 Platinum group metals (PGMs) mining and marketing company Implats on Tuesday reported higher production in a period characterised by robust demand but lacklustre PGM prices. “Despite continued macroeconomic and geopolitical uncertainty, demand from our contractual customers remains robust, with... →
Anglo under pressure to reveal plans to fend off BHP as Elliott hikes stake
By: Reuters 30th April 2024 Anglo American faced calls from shareholders on Monday to detail plans for improving its value in order to fend off bidder BHP, as activist investor Elliott further raised the stakes by increasing its holding in the takeover target. BHP, the world's biggest listed mining group, is privately... →
South Africa views BHP bid for Anglo as 'normal market activity'
By: Reuters 29th April 2024 South Africa views BHP Group's proposed bid for Anglo American as "normal market activity" and is following the process as it unfolds, President Cyril Ramaphosa's spokesperson said on Monday. BHP is considering making an improved offer for Anglo American after its $39 billion initial proposal was... →
BHP tells investors Anglo bid is 'on strategy', stresses discipline
By: Reuters 29th April 2024 BHP has told Australian investors privately that its $39-billion Anglo American bid is in line with its strategy and that it will be disciplined in its approach, two fund sources said. The world's biggest listed mining group is weighing up its next move after its initial takeover proposal for... →
BHP’s South Africa snub an indictment of ANC, DA says
By: Bloomberg 29th April 2024 BHP Group’s bid to spin off Anglo America’s South African assets as part of a takeover proposal shows how the economic policies of the ruling African National Congress (ANC) have undermined investor confidence in the country, the main opposition party said. The offer by BHP envisages Anglo... →
State-owned groups Eskom and Transnet have impaired mining productivity with unreliable power supply and a lack of trains to move mineral exports.
BHP considering improved proposal for Anglo American, sources say
By: Reuters 29th April 2024 BHP Group is considering making an improved offer for Anglo American after its $39-billion initial proposal was rejected by the London-listed miner, a source familiar with the matter told Reuters. BHP is in discussions on a revised bid for Anglo American to be made in coming weeks, the source... →
Shanghai Platinum Week: Hydrogen’s going to feature big, says World Platinum Investment Council
By: Martin Creamer 26th April 2024 The growth in demand for platinum applications in China is extremely high, making detailed access to the China market hugely advantageous. Providing this detailed access from July 8 to 11 will be the far-reaching Shanghai Platinum Week 2024, which is sandwiched between the London Platinum Week in... →
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