Mining and minerals UPDATE 23/6/2024

January 2024 to December 2024

Platinum  CAPITAL GAINS/LOSSES

From                          Update June 2024

R530 AMS           -10 %                      

R75   IMP            + 5 %

R94  NPH            +11 %

R17  SSW             -8  %

R2    JBL              +14 %

All other mining

ARI  18      %

AGL  +21   %

BHP  -18     %

EXX   +0    %

GLN   +0    %

GFI      +11  %

 

Electricity tariff increase will push mining costs up 33% by end-2024 – Minerals Council Update 16/10/23

Electricity tariff increase will push mining costs up 33% by end-2024 – Minerals Council:

UPDATE 16/9/2023

PLATINUM STOCK PRICES

LOWEST                            PERCENTAGE

PRICE IN 2023                      GAIN,

IN RANDS                         16/10/2023

R58.32         AMS      +     27 %

R80.76         IMP       +     16 %

R95.67        NPH       +     26 %

R27.03        SSW       +     2  %

R1.65          JBL        -     5   %

 The Minerals Council has noted with dismay the above-inflation electricity tariff increase of 18.65% that the National Energy Regulator of South Africa granted to Eskom in its 2023/24 financial year, starting April 1. This increase, coupled with the 12.74% tariff increased that is poised for the following financial year, will translate into a R13.5-billion, or 33.7%, increase in the mining industry’s electricity costs to R53.5-billion by the end of 2024, the council states.

South32's Harris takes the wheel at Sandfire

South32's Harris takes the wheel at Sandfire: Copper miner Sandfire Resources has appointed Brendan Harris as its new CEO and MD, following the shock exit of founding CEO Karl Simich at the end of September. Harris, an exploration geologist, has held senior executive roles with diversified miners BHP and South32, and has been a member of South32’s executive management team since its demerger from BHP in 2015 and played a key role in the company’s establishment as its inaugural CFO.

Cabinet endorses Just Energy Transition Partnership Investment Plan ahead of COP27 (Present Post no 3)

Cabinet endorses Just Energy Transition Partnership Investment Plan ahead of COP27: Cabinet has officially endorsed the Just Energy Transition Partnership Investment Plan (JETP-IP) following a presentation it received at its latest meeting, held on Wednesday October 19. “After welcoming a presentation on the JETP and the JETP-IP, Cabinet endorsed the

UPDATES

 SEE ALL THE UPDATES IN THE RIGHT HANDED COLUMN.

ALSO READ THE PREVIOUS POSTS FOR MORE INFORMATION ON PGM MINERALS FOR AN INSIGHT TO THE FUTURE IN THE posts

Inflation Reduction Act presents platinum demand opportunity (Present post no.2)

Inflation Reduction Act presents platinum demand opportunity: In a recent report, ‘Hydrogen Insights 2022’ the Hydrogen Council in collaboration with McKinsey & Co state that capturing the maximum climate value of hydrogen to help meet the 2050 net-zero carbon emissions target requires a tripling of investment in hydrogen projects to $700-billion by 2030. This is equivalent to an additional $460-billion over and above the $240-billion of direct investment between now and 2030 already announced.

New CEO sees great opportunity to boost efforts to increase platinum investor numbers PRESENT POST NO1

New CEO sees great opportunity to boost efforts to increase platinum investor numbers: New World Platinum Investment Council (WPIC) CEO Trevor Raymond – working closely with WPIC leadership and a wider team – describes as great the opportunity to boost efforts to increase the number of investors globally who are considering allocating to platinum, amid the forceful worldwide build-up of decarbonisation momentum. “Our success will strongly support platinum’s role in global decarbonisation, as investment demand helps bridge any mismatch between demand growth and supply growth,” said Raymond, who has been a core member of the WPIC leadership team since 2014, most recently leading the organisation's global research and investor development functions.