Platinum, Palladium Fall in New York on Speculation Auto Demand May Weaken

(Bloomberg) -- Platinum and palladium fell in New
York on speculation demand may weaken after Nissan Motor Co.
developed a technology that uses less of the precious metals in
emission-control devices.

The Tokyo-based company said July 27 that its new
autocatalyst requires only half the platinum, palladium and
rhodium of existing models. Makers of the devices buy 54 percent
of the platinum sold each year, according to Helen Henton, head
of commodity research at London-based Standard Chartered Plc.


Read more at Bloomberg Commodities News

Platinum Declines in London, Erasing an Earlier Gain; Palladium Advances

(Bloomberg) -- Platinum fell in London, erasing an
earlier gain. Palladium rose.

Platinum for immediate delivery dropped $1.50 to $1,277 an
ounce as of 11 a.m. in London. Prices had gained as much as
$5.50, or 0.4 percent. Palladium rose $1.50 to $363 an ounce,
after earlier declining as much as $3.25, or 0.9 percent.


Read more at Bloomberg Commodities News

Platinum Futures Fall Daily Limit in Tokyo on Rising Yen, Demand Concern

(Bloomberg) -- Platinum futures in Tokyo declined
by the daily limit to a two-month low as a rising yen against
the dollar reduced the value of yen-denominated futures, and
amid concern that platinum usage in autocatalysts may decline.

The yen rose to the highest in more than three months
versus the dollar on July 27 as a fall in stocks caused traders
to repay Japanese currency loans used to fund high-yielding
investments.


Read more at Bloomberg Commodities News

Union cancels wage talks with Angloplat, row continues

(Reuters) - South Africa's biggest mining union cancelled wage talks due on Thursday with Anglo Platinum Ltd because the miner was apparently not prepared to substantially change its offer, a union official said.

The National Union of Mineworkers (NUM) declared a dispute, the first legal step towards a strike, on July 11, but never officially filed it after Angloplat said it may raise its offer.


Read more at Reuters Africa

Platinum Declines in New York on Prospect Anglo Platinum Will Avoid Strike

(Bloomberg) -- Platinum fell from an 11-week high
in New York on expectations Anglo Platinum Ltd., the world's
biggest producer of the metal, will resolve a wage dispute with
miners later this week, avoiding a strike. Palladium also fell.

South Africa's National Union of Mineworkers agreed to
meet Anglo Platinum for more wage talks on July 26 and expects
an improved offer, union chief negotiator Oupa Koma said on
July 20. Before today, platinum had gained 18 percent this
year, partly on concerns strikes would disrupt supplies.


Read more at Bloomberg Commodities News

Aquarius contractor fires 3,000 striking workers

(Reuters) - More than 3,000 striking workers at two South African mines owned by platinum miner Aquarius Platinum have been dismissed, the firm said on Thursday.

The strike stemmed from demands for a bonus made by employees and followed the dismissal of 108 load-haul dumper operators in May. The rest of the contractor workforce went on a sympathy strike.


Read more at Reuters Africa

Impala Platinum Pay Talks With Union Fail, State Mediation Is Sought

(Bloomberg) -- Impala Platinum Holdings Ltd.'s pay
talks with a South African labor union failed after workers
refused to accept a two-year agreement offered by the company, a
union official said. State mediation will now be sought.

While willing to accept Impala's offer to boost pay 8
percent to 10 percent this year, workers were unhappy with the
offer for a 7 percent to 8 percent raise next year depending on
job grade, Eddie Majadibodu, a negotiator for the National Union
of Mineworkers, said today in an interview from Rustenburg,
northwest of Johannesburg.


Read more at Bloomberg Emerging Markets News

South African Stocks Advance, Paced by Anglo American and Impala Platinum

(Bloomberg) -- South African shares rose for a second
day. Anglo American Plc and Impala Platinum Holdings Ltd. led the
gain as the prices of metals including copper, nickel and
platinum advanced.

The FTSE/JSE Africa All Share Index added 183.30, or 0.6
percent, to 28,886.43 at 10:22 a.m. in Johannesburg, as four
stocks rose for each one that fell.


Read more at Bloomberg Emerging Markets News

Platinum Falls Most in Month as Strike Concerns Ease; Palladium Declines

(Bloomberg) -- Platinum in New York fell the most in
a month as concerns eased about potential strikes at mines in
South Africa, which produces about 80 percent of the metal.
Palladium also declined.

Before today, platinum rose 1.7 percent this month after
companies including Anglo Platinum Ltd., the biggest producer,
Impala Platinum Holdings Ltd. and Northam Platinum Holdings Ltd.
started wage talks with workers. Unions say near-record prices
for the metal should allow companies to increase wages beyond
inflation, currently at 6.3 percent.


Read more at Bloomberg Commodities News

South African Stocks Decline, Led by Anglo American and Impala Platinum

(Bloomberg) -- South Africa's main stock index
declined for a third day, paced by Anglo American Plc and Impala
Platinum Holdings Ltd. as metals prices fell.

The FTSE/JSE Africa All Share Index lost 170.06, or 0.6
percent, to 28,924.26 at 10:07 a.m. in Johannesburg, as 82
stocks dropped, 16 rose and 66 were unchanged.


Read more at Bloomberg Emerging Markets News

Platinum Rises as Industrial Users May Hoard the Metal; Palladium Falls

(Bloomberg) -- Platinum climbed for a second
consecutive day in London on speculation industrial users will
hoard the precious metal in anticipation of a strike in South
Africa, the largest producer. Palladium dropped.

The one-month interest rate to borrow rhodium, a metal
that's mined from the same ore bodies as platinum in South
Africa, has soared this week to an annual rate of 30 percent,
from 18 percent last week, said Mark Augustynak, a trader at
Natixis Commodity Markets Ltd. in London. South Africa is also
the biggest producer of rhodium.


Read more at Bloomberg Commodities News

Platinum Climbs in London After Impala Labor Talks; Palladium Also Gains

(Bloomberg) -- Platinum climbed to a one-week high
in London after pay talks continued without an agreement at
Impala Platinum Holdings Ltd., reviving speculation miners will
strike in South Africa, the biggest producer of the metal.
Palladium also rose.

Negotiations that continued until 11 p.m. local time
yesterday failed to bring a breakthrough, Eddie Majadibodu,
chief negotiator for the National Union of Mineworkers, said
today. Anglo Platinum Ltd., the biggest platinum producer, is
halting output at its Rustenburg underground mine for safety
checks in two days' time following the deaths of five workers in
the past two weeks.


Read more at Bloomberg Commodities News

Eland Platinum Asks JSE to Investigate After Shares Plunged This Week

(Bloomberg) -- Eland Platinum Holdings Ltd., whose
stock plunged 20 percent this week on speculation that potential
bidders pulled out of takeover talks, asked the Johannesburg
stock exchange to investigate volatility in its shares.

The company is still in talks that may affect its shares,
Johannesburg-based Eland said in an e-mailed statement today.
Articles published recently on Mineweb.com contain ``material
inaccuracies'' about Eland, it added.


Read more at Bloomberg Emerging Markets News

Platinum Drops For Third Day in London on Gains in Dollar; Palladium Rises

(Bloomberg) -- Platinum fell for a third successive
day in London because of speculation that gains in the dollar may
erode demand for the metal as an alternative investment.
Palladium advanced.

The dollar's rebound from a record low against the euro
since April has halted a rally in platinum and gold. Before
today, platinum had gained 13 percent this year, partly on
investor demand and speculation that a strike will disrupt
supplies from South Africa, the world's biggest producer.


Read more at Bloomberg Commodities News

Implats to help workers buy 3 pct of its shares

(Reuters) - South Africa's Impala Platinum Holdings Ltd (Implats) has launched a plan to help its mainly black workers buy 3 percent of the firm's shares worth nearly 4 billion rand, it said on Monday.

Implats, the world's second biggest platinum producer, said in a statement it had financed the purchase of 16.4 million shares, which will be placed in an employees' trust.


Read more at Reuters Africa

Platinum Climbs in London on Demand for Auto Catalysts; Palladium Rises

(Bloomberg) -- Platinum rose for a second consecutive
day in London on expectations that demand for auto catalysts,
made with the precious metal, will expand. Palladium, also used
in the pollution-control devices, gained.

Johnson Matthey Plc, maker of a third of about 100 million
catalysts sold worldwide every year, is expanding in Russia and
South Korea, adding to growing markets in China and India, the
company said a report today. Legislation to limit emissions is
spreading to trucks and mining equipment.


Read more at Bloomberg Commodities News

Canadian Stocks Rise, Led by Eastern Platinuml; Crystallex Shares Advance

(Bloomberg) -- Canadian stocks advanced, led by Eastern
Platinum Ltd. after the nation's largest platinum producer said it
may buy other companies in the next two years.

Crystallex International Corp. jumped after a newspaper
reported Venezuela decided to allow the company to mine for gold in
the Sierra del Imataca region. Energy stocks rose even as crude oil
declined in New York.


Read more at Bloomberg Stocks News

Palladium Gains for Fourth Session on Investor Demand; Platinum Declines

(Bloomberg) -- Palladium futures in New York gained
for the fourth session in a row on investor demand for the metal
used in jewelry and auto-exhaust systems. Platinum dropped.

Hedge-fund managers and other large speculators increased
net-long positions, or bets prices will rise, to a record 11,873
contracts as of May 8, according to Commodity Futures Trading
Commission data. The total slipped to 10,665 as of May 15, the
data showed. Investor demand helped spur an 11 percent rally in
palladium this year.


Read more at Bloomberg Commodities News

Platinum Falls in London on Expanding Mining Supply; Palladium Advances

(Bloomberg) -- Platinum fell in London, extending
last week's decline, as growing output from South Africa and
Russia may exceed demand from jewelers and carmakers. Palladium
gained to a one-week high.

Platinum output from South Africa, the world's biggest
producer, may rise more than 5 percent this year after a 1.7
percent gain last year, London-based Johnson Matthey Plc forecast
last week. Russia, the second-biggest producer, was allowed to
resume exports after a delay since the start of the year,
Interfax news agency reported in April.


Read more at Bloomberg Commodities News

Tokyo gold up nearly 1 percent on soft yen

(Reuters) - Tokyo gold futures bounced back on Monday, rising nearly 1 percent, as a higher close on New York's COMEX and a softer yen prompted buying, while bargain hunting lifted dollar-based gold prices.

Platinum also regained some ground to hit a record high as bargain hunters bought the metal, which is enjoying steady demand due to its use in automobile catalytic converters.


Read more at Reuters Africa