Sibanye, Lonmin merge to create world’s largest platinum miner

More than 200 delegates from the mining, renewable energy and finance sectors attended this event.

The besieged miner plans to lower costs at its iron ore mines after boosting total annual output for the steelmaking ingredient.

The ratings agency expects physical supply/demand imbalance to widen further, leaving miners in extremely weak conditions.

Bullion prices are also set for a gradual recovery this year as demand increases in Asia and mine production contracts.

While Apple's costs $17,000, Samsung's is expected to go for about $520.

Silver attracts buyers, gold price lifted out of historic net short positioning as large futures speculators cut overall bearish bets on commodities by 74%.

Only last month, the South African miner announced it was postponing all investment in new or replacement capacity until at least 2017

Four miners have died in an underground fire in a platinum mine, the Impala group said in a statement.

Top miners BHP Billiton, Rio Tinto, Vale and Anglo American are among the firms at risk of rating downgrade.