Pacific Coast Nickel Corp. Purchases Wellgreen PGM and Lynn Lake Nickel Projects From Prophecy Resource Corp. (18/01/11)

Pacific Coast Nickel has announced it is purchasing Wellgreen PGM and Lake Nickel Projects from Prophecy Resource. The deal, which has a gross value of just over $107 million (£67 million), will see Pacific Coast Nickel take over the two operations in Yukon Territory and Manitoba.

John Lee, chairman and chief executive officer of Prophecy, said the transaction will unlock the "intrinsic value" of the company's assets. He added: "Investors will have a choice to own Prophecy Coal for 1.4 billion-tonne coal exposure, or own Prophecy Platinum for unique and significant Nickel PGM exposure."

Village intersects shallower reef at Lesego project (19/01/11)

Village Main Reef's Lesego site has been elevated from "a good platinum project to a potentially great one" after the discovery of shallower mineralised reef.

The assertion, from the firm's chief executive officer Bernard Swanepoel, came after the Johannesburg-listed firm announced the initial results of an exploratory drilling programme that found there may platinum at a shallower depth than first thought.

Mr Swanepoel said the discovery has given the project, which currently has an inferred resource of 27.8 million ounces of platinum-group metals, "more confidence".

Platinum projects on the rise for EPCM firm (21/01/11)

Engineering, procurement and construction management (EPCM) firm K'Enyuka is noticing an increase in platinum projects, its managing director Mike Symonds says.

The firm has been awarded feasibility studies for new platinum projects, as well as revalidation of old projects, with Mr Symonds claiming the company will undertake more work in PGMs and other commodities than it has in the last 18 months.

K'Enyuka reports that it is in a strong position through its association with a Chinese outfit and that its modular coal plant has attracted attention.

Tjate platinum project on track (21/01/11)

Mining and exploration firm Jubilee Platinum's Tjate platinum project in the Bushveld Complex is continuing with nine new drill holes in the last three months of 2010, according to Snowden Mining Industry Consultants, which has the contract for the project's engineering, financial and environmental assessment.

Jubilee expects to apply for mining rights for the project during the first half of 2011. Meanwhile, Snowden believes that more money will be committed to platinum projects this year, providing the South African government lifts a moratorium on mineral rights and there is only limited discussion of the nationalisation of mines

HTX Minerals Corp 

Forms a New Strategic Alliance with Impala Platinum (24/01/11)

HTX Minerals Corp has announced a new strategic alliance with Impala Platinum Holdings Limited (Implats), the world's second-largest primary platinum producer, in a deal that will see the two companies focus on PGE-Nickel-Copper exploration within the Mid Continental Rift area of Ontario, Canada.

The agreements will see Implats help fund exploration in the area in return for a 50 per cent vested interest in all HTX existing properties and new projects in the region.

Commenting on the partnership, HTX president and chief executive officer Scott McLean said it demonstrates Implats' confidence in HTX's exploration programme. He added: "Implats brings a level of expertise and experience to our exploration approach which complements the solid technical expertise of HTX."

Rio Novo Drilling Confirms Gold-Palladium-Platinum Potential (26/01/11)

INV Metals has intersected highly anomalous precious metal values in auger and diamond drilling on its Rio Novo North claim in the Carajas area of Brazil.

The firm's chief executive officer Robert Bell said the find "corroborate[s] the potential for the Rio Novo North property to host the possible strike extension of the Serra Pelada high grade platinum- palladium-gold mineralisation".

An additional 3,000-metre diamond drill programme is planned for April to further test the potential of the site, he added.

Targeted resource of 138m ounces of PGMs for Bauba (28/01/11)

The Bauba project on the eastern limb of the Bushveld Igneous Complex represents a targeted resource of 138 million ounces of platinum-group metals, according to Bauba Platinum executive manager Grant Pitt.

Independent consultancy group Venmyn and mining engineering and mine design services provider Sound Mining Solutions is carrying out a scoping study that will form the basis for future work on the the Bauba project.

Bauba Platinum aims to establish a mine that produces an initial 350,000 oz/y of PGMs within the next ten years. According to the firm, the area concerned is expected to reveal both Merensky reef and upper group two chromitite layer occurrences.

Thunder Bay could prove profitable to Magma – study (07/02/11)

Magma Metals' Thunder Bay North platinum/palladium/copper/nickel project in Ontario could yield a cash flow of between C$164 million and C$360 million (£104 million-£228 million), a scoping study has found.

Commenting, Magma chairperson Keith Watkins said the results reveal "the basis for a robust project", adding that there is "considerable" potential to drive better value for money from the scheme.

With federal and environmental assessments due, it is thought the project will be up and running in the first six months of 2014. Estimates show the project will be mined at 1.5 million tonnes of resources a year over a seven-year period.

Platinum Group Metals Says Bushveld Production to Begin in 2013 (09/02/11)

Canadian mining firm Platinum Group Metals says it has started developing a mine that will produce platinum, palladium, rhodium and gold by 2013.

"We're in the process of starting construction," the firm's chief executive officer Michael Jones said in an interview. "We expect a bulk sample permit to be issued in the next week or two."

He expects prices of metals to continue to climb as demand from car makers outstrips supply – platinum, used in automotive pollution devices, has already gained 24 per cent in the last year.

Benton Options Bark Lane Project to Platinum Group Metals (10/02/11)

Platinum Group Metals (PGM) has agreed a deal that gives the exclusive interest to earn up to a 75 per cent interest in Benton Resources Corp's Bark Lake platinum/palladium project.

PGM is particularly interested in the discovery of sulphide boulders, samples of which returned grades including 5.84 grams per tonne (gpt) 3 PGM, 2.65gpt platinum, 1.46gpt palladium, 0.73gpt gold, 1.21 per cent copper and 1.55 per cent nickel under assay.

The Bark Lake property comprises 19 mineral claims over a total area of 3,884 hectares, around 120km west of Thunder Bay in Ontario.

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