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Monday, January 21, 2013

Minesite Newsletter 21st January 2013

Untitled Document
Minesite.com Informed comment and independent mining news
Minesite Weekly Roundup 14th - 21st January 2013
Dear Minesite subscriber,
Weekly Review

Platinum hit a three month high of US$1,710.50 per ounce on Thursday 17th, trading higher than gold for the first time in several years. The following day palladium went to a 16-month high of US$797, partly on increasing confidence about the state of the global economy. US quarterly labour and housing market numbers came in positive, while there was also positive data out from China.

But there's more to it than that. The platinum industry famously struggles with a set of complex dynamics unique in the industry. Mining costs are high, and in South Africa, which accounts for the majority of the global supply, the deeper ore can be metallurgically tricky, as Lonmin's smelters know to their cost.

Making the numbers stack up even in an improving pricing environment isn't easy, hence the decision last week of Anglo Platinum to sell one project and cut production at others. That news met with a mixed reaction, depending on which particular part of the global economy you are exposed to.

South Africa's militant and sometimes violent union AMCU reacted with predictable fury to the loss the 14,000 jobs that Anglo Plats also said it was going to cut. Inevitably, an illegal strike was organised. Mines minister Susan Shabangu labelled Anglo Platinum "irresponsible". This does not bode well in a country that allowed its policemen to massacre platinum miners in considerable numbers just a few short months ago.

On the other hand, the platinum price is rising, and for the first time in a good long while, platinum equities are on the move too. Aquarius Platinum has nearly doubled since mid November, when a new chief executive was appointed. Lonmin is also significantly better across the same period, as are Jubilee, Sylvania and Eastern Platinum.

So what will happen next? It was notable that among the risers, shares in Anglo Platinum and its parent Anglo American fell after initial strength, as investors realised the scale of the cut-backs and the likely intensity of the political and union backlash.

The industry will now face more disruption on the supply side, meaning that the platinum price should hold firm and other platinum equities should at last enjoy some respite. If the global economy continues to improve and demand rises, there could be considerable returns on offer.

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Latest News

News: January 18, 2013

That Was The Week That Was … In Canda

Press releases

January 21, 2013 - African Consolidated Resources Plc Subscription to raise £1.90 million
January 21, 2013 - Bullabulling Gold Limited Dec 2012 Quarterly Activity and Cashflow...
January 21, 2013 - Anglesey Mining Plc LIM equity financing 
January 21, 2013 - Afferro Mining Inc. Board Changes
January 21, 2013 - Perseus Mining Ltd Quarterly Activities Report
January 21, 2013 - Perseus Mining Ltd Perseus Mining Appoints New Managing Director
January 18, 2013 - Afferro Mining Inc. Director Holdings
January 18, 2013 - Archipelago Resources Plc Drill Results for Jipang prospect at Toka...
January 18, 2013 - Conroy Gold and Natural Resources Plc Further re Metallurgical Test Results 
January 18, 2013 - Oracle Coalfields PLC Placing & ELF Drawdown
January 18, 2013 - Centaurus Metals Limited MOU Signed With Minas Gerais State...
January 18, 2013 - PMI Gold Corp PMI Announces Interim Order For Merger of...
January 17, 2013 - Kootenay Silver Inc. Kootenay Silver Announces 30,000 Meter,...
January 17, 2013 - Carpathian Gold Inc Carpathian Reviews 2012 Achievements and...
January 17, 2013 - Forum Uranium Corp Forum Stakes Claims on Trend of the...
January 17, 2013 - Anglesey Mining Plc LIM announces equity financing 
January 17, 2013 - Chaarat Gold Holdings Ltd Clarification of fiscal regime in Kyrgyz...
January 17, 2013 - Afferro Mining Inc. Media Speculation Regarding Possible Offer 
January 17, 2013 - Landore Resources Inc Resource Update - Junior Lake
January 17, 2013 - Serabi Gold Plc Operational Update
January 17, 2013 - Silver Lake Resources Ltd Integration Update
January 16, 2013 - Jubilee Platinum Plc Update to the Proposed Transaction with PLA 
January 16, 2013 - Great Panther Silver Limited Great Panther Silver Reports Improved...
January 16, 2013 - Serabi Gold Plc Result of General Meeting 
January 16, 2013 - EMED Mining Quarterly Operational Update
January 15, 2013 - African Consolidated Resources Plc Nkombwa Licence Confirmed as Sole Valid...
January 15, 2013 - Azumah Resources Ltd Increases Wa Gold Resources 32%
January 15, 2013 - Focus Minerals Ltd FML Commences New Drilling Programs
January 15, 2013 - Aureus Mining Inc Grant of Options 
January 15, 2013 - Donner Metals Ltd Stock Options Granted
January 15, 2013 - Sunrise Resources Plc Posting of Annual Report and Accounts
January 15, 2013 - Tertiary Minerals Plc Posting of Annual Report and Accounts 
January 14, 2013 - Pan African Resources PLC Results of Rights Offer
January 14, 2013 - Great Panther Silver Limited Great Panther Silver Updates Mineral...
January 14, 2013 - Afferro Mining Inc. Potential Offer Update 
January 14, 2013 - Volta Resources Inc. Higher Grade Lenses Support Phased...
January 14, 2013 - Caledonia Mining Corp Fourth Quarter Production Update 
January 14, 2013 - SolGold Plc Solomon Islands Update 
January 14, 2013 - Crusader Resources Ltd Posse Iron Ore Progress - Mining this Quarter
January 14, 2013 - ECR Minerals Plc Result of General Meeting and Update
January 14, 2013 - Forum Uranium Corp Forum Announces $2 Million Non-Brokered...

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