Rhodium

Zimbabwe said on Tuesday it could prosecute or cancel the mining licence of Zimplats, the local unit of Impala Platinum, for failing to agree to transfer majority ownership to local blacks, piling pressure on the firm to strike a deal. However, Indigenisation and Economic Empowerment Minister Saviour Kasukuwere, who is leading the drive to increase Zimbabweans' control of the economy, said Harare had reached an agreement with Rio Tinto's Murowa mine and a deal was "imminent" for Aquarius' Mimosa mine. The deals with Rio and Acquarius put the squeeze on Zimplats' parent, the world's number two platinum producer, which risks losing its concessions to others, especially the Chinese, who are favoured by President Robert Mugabe.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 30, 2011) - Further to the press release dated July 27, 2011, Nortec Minerals Corp. (TSX VENTURE:NVT)(PINK SHEETS:NMNZF)(FRANKFURT:WMQ) ("Nortec" or the "Company"), is pleased to announce that it has signed an Option and Joint Venture Agreement ("OA") with Otterburn Ventures Inc. (CSNX:OTB) ("Otterburn"). The OA gives Otterburn the option to earn up to an 80% interest in Nortec's Läntinen Koillismaa project, a 100 % owned palladium-platinum–gold–copper-nickel property ("LK Project"), located in north central Finland.

Mining Review reports Impala Platinum ‒ the world’s second-largest producer of the precious metal ‒ may invest as much as $10 billion in Zimbabwe to expand production if the government backs down on its controversial indigenization policy. Earlier this month Zimbabwe's government gave foreign companies including miners and banks a 14-day ultimatum to submit plans on how they propose to transfer majority stakes to local owners or risk losing permits. Impala is already the biggest investor in Zimbabwe's mining sector.

According to a new report by GIA the global market for heavy-duty diesel (HDD) catalysts is forecast to reach $2.6 billion by the year 2017, spurred by rigorous emission control regulations for heavy-duty on-road and off-road vehicles across the world. Catalysts with a high palladium content are fast replacing platinum catalysts in gasoline exhaust systems, while demand for platinum increased due to its increasing usage in catalysts for diesel exhaust systems.

South Africa's Impala Platinum Holdings (Implats) said on Thursday that its headline earnings for the 2011 financial year rose 41% as it reaped the benefit of rising prices. The world's second-largest producer of the metal also said Thursday that it expects output in 2012 to be steady or slightly lower on the year and that costs will likely rise. Implats accounts for close to 30% of global supply of the precious metal sometimes referred to as white gold, used in vehicle emission systems to reduce pollution and for the manufacture of jewellery. Prices for platinum climbed throughout the year from just over US$1,500 per ounce to end at about US$1,800 per ounce.

Zimbabwe's government has given foreign companies including miners and banks a 14-day ultimatum to submit plans on how they propose to transfer majority stakes to local owners or risk losing permits, state media reported on Friday. However, immediately thereafter the country's central bank governor Gideon Gono launched a scathing attack on the minister responsible for the indigenization policy saying the threats “could irreparably harm the nerve-centre of the recovering economy.” Before a new unity government in 2009 Zimbabwe economy had shrank by as much as half over the preceding decade amid hyperinflation, property seizures and civil unrest. The country is the number two platinum producer in the world and rich in gold and diamonds.

The darkening economic outlook this month has sent investors out of the palladium market in droves, but the coming months of uncertainty are likely to be more of a cooling-off period than an end to their romance with last year's star performer.

Bloomberg reports the proposed expansion by South Africa's Royal Bafokeng Platinum follows an increase in demand for platinum which has gained 19% in the past 12 months to $1,818/oz. Steve Phiri, RB Platinum CEO said demand is likely to exceed supply in the next three years, while a shortage of palladium, typically mined along with platinum, may rise to 1 million ounces in 2014. South Africa produces more than three-quarters of global supply.

Platmin Limited announced production results from the Pilanesberg Platinum Mine and financial results for the quarter and half-year endedJune 30, 2011. Sales revenue for the quarter-ended June 30, 2011 was US$34.5 million, an increase of approximately 130% compared with US$15.0 million recorded in the prior corresponding period; and for the half-year ended June 30, 2011 - US$60.5 million, an increase of approximately 80% compared with the prior corresponding period. Sales of 4E PGM ounces for the June 2011 month was 9,258oz or about 110 000oz annualized;