Impala Platinum Holdings Ltd.Grey Market
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  • May 29, 2015, 11:58 AM
    • Platinum miners betting on fuel cell vehicles to help boost demand and prices for the metal are in danger of having their hopes dashed, at least in the medium term, as electric and hybrid cars are taking a bigger share of the market, according to a Reuters analysis.
    • The world's three largest platinum producers - Amplats (OTCPK:AGPPY, OTCPK:AGPPF), Impala Platinum (OTC:IMPUF, OTCQX:IMPUY) and Lonmin (OTC:LNMIF, OTCPK:LNMIY) - are all investing in projects related to fuel cell technologies, but analysts doubt growth in fuel cell vehicles will keep up with their electric counterparts, mostly because battery recharging stations are less costly and already more widespread than hydrogen refueling stations.
    • Amplats CEO Chris Griffith, whose company has invested $35M in the last five years in companies developing new uses for platinum, mostly through fuel cell technology, says he does not want Amplats "to be a Kodak."
    | May 29, 2015, 11:58 AM
  • Apr. 24, 2014, 6:44 PM
    • The world's top three platinum producers - Amplats (AGPPY, AGPPF), Impala Platinum (IMPUY, IMPUF) and Lonmin (LNMIF, LNMIY) - say they will bypass the union representing tens of thousands of South African miners and offer a new wage deal directly to their employees, after talks aimed at ending three months of strikes hit an impasse.
    • Although the move doesn't bring an end to negotiations with the AMCA union, it could further damage already strained relations between management and strike leaders.
    | Apr. 24, 2014, 6:44 PM
  • Apr. 14, 2014, 10:59 AM
    • Platinum prices are surging, stoked by worries over supplies due to the crippling mine worker strike in South Africa and the potential for increased sanctions against Russia.
    • Platinum mining in South Africa has plunged by more than a third since workers went on strike in January to demand higher pay; mining companies had built up their inventories before the strike, but stockpiles have dwindled as the strike reaches its 11th week.
    • South Africa is the source of roughly 80% of the world's platinum, while Russia is the second largest producer; platinum is used primarily in catalytic converters of diesel-burning vehicles, which are common in Europe.
    • ETFs: PPLT, PTM, PGM
    | Apr. 14, 2014, 10:59 AM
  • Jan. 27, 2014, 8:21 AM
    • Talks resumed today between South Africa's top mineworkers union and the world's top three platinum producers, but with few hopes for a quick resolution to a strike that hit production of the metal given AMCU's uncompromising approach to negotiations and with the two sides far apart over wages.
    • The delegations for the talks were low level, with no ministers or chief executives from Anglo American Platinum (AGPPY), Impala Platinum (IMPUY, IMPUF) or Lonmin (LNMIF, LNMIY), and without the president of the AMCU union.
    • ETFs: PPLT, PTM, PGM.
    | Jan. 27, 2014, 8:21 AM
  • Jan. 24, 2014, 11:41 AM
    • The strike at South African platinum mines has paralyzed the world’s three biggest producers of the metal for a second day, as talks to resolve the dispute over pay brake up until next Monday.
    • Negotiations between Anglo American Platinum (AGPPY), Impala Platinum (IMPUY, IMPUF) and Lonmin (LNMIF, LNMIY) and the AMCU union are expected to resume for three days beginning Jan. 27; platinum prices pared declines as prospects of a quick end to the walkout faded.
    • At least 70K employees began their strike yesterday in the country that is home to 70% of global production; the mining companies estimate the strike will cost ~$13M/day in lost revenue.
    | Jan. 24, 2014, 11:41 AM | 1 Comment
  • Jan. 24, 2014, 5:00 AM
    • South Africa's Association of Mineworkers & Construction Union has started government-brokered pay talks with the world's three largest platinum producers in order to end a strike of up to 100,000 workers.
    • The strike, which is affecting over half of the world's platinum output, is in its second day and is threatening to turn violent.
    • The meeting marks the first time that the AMCU has met with Anglo American Platinum (AGPPY), Impala Platinum (IMPUY, IMPUF) and Lonmin (LNMIF, LNMIY) under one roof.
    • Platinum futures are -1% at $1,449.15 an ounce.
    • ETFs: PPLT, PTM, PGM.
    | Jan. 24, 2014, 5:00 AM
  • Jan. 23, 2014, 7:51 AM
    • Tens of thousands of platinum workers in South Africa went on strike today to demand higher salaries, and Anglo American Platinum (AGPPY), Impala Platinum (IMPUY, IMPUF) and Lonmin (LNMIF, LNMIY) say mining operations had mostly stopped as a result.
    • The companies warn that the industry is in a financially fragile state and a new strike will be damaging to both revenue and jobs; this week, Amplats said earnings in 2013 returned to a profit after a loss the previous year but a strike could reverse those gains.
    • ETFs: PPLT, PTM, PGM.
    | Jan. 23, 2014, 7:51 AM
  • Jan. 22, 2014, 11:58 AM
    • Anglo American Platinum (AGPPY) returned to a profit in 2013 as the platinum sector tentatively picked up after enduring a wave of violent strikes, but the recovery risks being jeopardized by new unrest as miners prepare to lay down tools tomorrow to demand a doubling of their basic salary
    • Amplats, majority-owned by Anglo American (AAUKY, AAUKF), expects EPS to increase to 480-590 cents from a loss the year before, amid higher sales of platinum and a favorable rand/dollar exchange rate.
    • Amplats joins Impala (IMPUY, IMPUF) and Lonmin (LNMIF, LNMIY) in warning of the potential damage of a prolonged strike, saying the miners' demands are “unaffordable and unrealistic."
    • ETFs: PPLT, PTM, PGM.
    | Jan. 22, 2014, 11:58 AM
  • Feb. 13, 2013, 4:59 PM

    While prices for gold and silver drift lower, platinum's premium to gold surged to a 17-month high on concern supply may fall after Zimbabwe's government seized land from the country’s biggest platinum producer Zimplats, majority owned by Impala Platinum. Commerzbank analysts expect further production outages which could increase the platinum supply deficit on the world market.

    | Feb. 13, 2013, 4:59 PM
  • May 29, 2012, 12:55 PM

    Impala Platinum's (IMPUY.PK) CEO says his company will watch Anglo American's (AAUKY.PK +2.1%) platinum review and would be prepared to scoop up any assets if they fit within its portfolio and generate value for shareholders. Anglo American launched a review earlier this year to extract more profitability from its platinum operations against a backdrop of rising costs.

    | May 29, 2012, 12:55 PM