Platinum group metals demand set to overwhelm supply balance – Davis
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JOHANNESBURG (miningweekly.com) – Long-serving precious metals consultant Dr
David Davis has reached the conclusion, after a comprehensive study, that the demand for platinum group metals (PGMs) is poised to outstrip stagnant supply.
Davis, who has spent several months carrying out a ‘deep dive’ into the future of PGMs for precious metals researchers in Singapore, Australia and the UK, has concluded that demand for the metals will overwhelm the balance in as few as two to three years.
Zimbabwe to fund part of compensation to white farmers with mine revenue Finance minister says the government is also considering selling real estate and raising debt to meet the compensation bill 08 January 2021 - 17:27 Godfrey Marawanyika The Zimbabwe flag. Picture. 1233RF/NATANAEL ALFREDO NEMANITA GINTING
Zimbabwe plans to use profits from a mining venture to help settle a $3.5bn compensation claim from white farmers and settle a two-decade dispute that’s soured the country’s relations with Western nations and global lenders.
Kuvimba Mining House, of which the government owns 65%, intends to raise $1bn for acquisitions and capital expenditure. It will invest a “significant amount” of the cash raised on the Darwendale platinum project, which belongs to Kuvimba’s Great Dyke Investments unit, according to COO David Brown.
Construction of the box cut at the GDI site at Darwendale, July 2020. The box cut is the first step in excavation, providing a portal into the underground mine
HARARE (Bloomberg) –A mining company majority owned by the Zimbabwe government and whose profits will partly be used to compensate former white commercial farmers for land confiscated two decades ago intends to raise $1 billion for acquisitions and capital expenditure.
Kuvimba Mining House Ltd., in which the government holds a 65% stake, will invest a “significant amount” of the cash raised on the Darwendale platinum project, which belongs to its Great Dyke Investments unit, according to Chief Operating Officer David Brown. About $100 million will be set aside for acquisitions and capital expenditure over the next 12 months, he said in emailed responses to questions.
(iStock)
Zimbabwe plans to use profits from a mining venture to help settle a $3.5 billion compensation claim from white farmers and settle a two-decade dispute that’s soured the country’s relations with Western nations and global lenders.
Kuvimba Mining House, of which the government owns 65%, intends to raise $1 billion for acquisitions and capital expenditure. It will invest a significant amount of the cash raised on the Darwendale platinum project, which belongs to Kuvimba’s Great Dyke Investments unit, according to Chief Operating Officer David Brown.
If successful, the company could help meet the $3.5 billion the government agreed to pay thousands of white farmers it began evicting from their land in 2000 in a failed land reform program that has seen Zimbabwe’s economy collapse. Resolving the dispute is key to repairing relations with multilateral lenders who have shut off finance to the country.