Sibanye says platinum mine shaft shut until official probe

The company filed a preliminary economic assessment in the spring.

The move aims to reduce the gold producer's dependence on unreliable electricity supply from state-run utility Eskom Holdings.

With the markets in whiplash mode, Joe McAlinden, founder of McAlinden Research Partners and former chief global strategist with Morgan Stanley Investment Management, believes volatility is going to stick around for a while, and we might see a correction double of what we've had so far.

The announcement comes only days after Anglo announced a $330m deal to sell lossmaking South African platinum mines to Sibanye Gold.

With the Yuan devaluation, interest rate hikes, and stock market volatility, Eric Coffin explores what commodities merit your investment dollars.

The companies are expected to make an official announcement on Wednesday.

Deutsche Bank recently provided a graphical snapshot that covers the returns of a wide span of assets both YTD and since the mid-August meltdown.

Supply for the year, however, is expected to increase by 9% to 7.91 million ounces, owing to the recovery in the country’s output following strikes in 2014, as well as increased platinum recycling.

CHART: The commodity slump has slashed major miners' market valuations to 60–88% below 2011 highs.