Angloplat H1 headline EPS up 47 pct, cuts FY output

(Reuters) - South Africa's Anglo Platinum posted a 47 percent jump in interim headline earnings per share on Monday, at the top end of its own forecast, and cut its output estimate for the year.

Angloplat, the world's biggest platinum producer, said headline EPS for the six months to end June increased to 29.43 rand from 22.02 rand in the same period last year, mainly due to strong metals prices.


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Platinum Falls Most in Eight Months on Stronger Dollar; Palladium Declines

(Bloomberg) -- Platinum fell the most in eight
months in New York as the dollar strengthened, reducing the
metal's appeal as an alternative investment. Palladium also
dropped.

Platinum is traded mostly in dollars, which rose to a two-
week high against the euro, making the metal more expensive for
holders of the European currency. U.S. stocks extended
yesterday's drop, the biggest in five months, as investors
shunned riskier investments in favor of bonds.


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Platinum ETFs fail to stir market, seen supportive

(Reuters) - Platinum exchange-traded funds (ETFs) have failed to boost the thinly-balanced market or attract huge investment in the first three months, but will continue to underpin prices in the long run, analysts say.

The trading rule of 'buy the rumour, sell the fact' has been true for the metal, with prices setting historic highs in November on mere talk of an ETF launch but hovering in a broad range below the peak after their listings in April and May.


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Miners boost S.Africa stocks; outlook hits Angloplat

(Reuters) - South African shares muscled to a record high on Thursday as a stronger gold price and Rio Tinto's bid for Alcan powered mining stocks but Anglo Platinum sank on a disappointing trading update.

The Johannesburg Top-40 index of blue-chip stocks rose 0.54 percent to 27,028.86 points, a historic closing peak, while the All-share index gained 0.49 percent to 29,789.95 points, also a record.


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Platinum Rises as Wage Disputes at South Africa Mines May Disrupt Supplies

(Bloomberg) -- Platinum rose, heading for its
second weekly gain in three weeks in New York on concern wage
disputes will lead to strikes at mines in South Africa, the
biggest producer of the metal. Palladium also gained.

Anglo Platinum Ltd. last week raised a wage offer in an
attempt to avert a strike, and employees at Impala Platinum
Holdings Ltd. turned down a proposed pay increase. The two
South African companies are the world's biggest platinum
producers.


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S.African shares creep higher, Implats jumps

(Reuters) - South African shares inched higher on Wednesday in thin trading as Impala Platinum gained amid talk of sector consolidation.

The Top-40 blue chip index gained 0.35 percent to 26,082.29 points while the broader All-Share index added 0.31 percent to 28,844.31 points.


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Platinum Advances as Buying by Manufacturers Increases; Palladium Rises

(Bloomberg) -- Platinum rose in London on buying by
manufacturers attracted by yesterday's slide in prices.

``We've seen a little bit more interest,'' said Mark
Bedford, director of precious-metals marketing at Johnson Matthey
Plc in Royston, England. ``When prices dropped yesterday, there
was more interest from industrial buyers.''


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Union says declares dispute against Northam Platinum

(Reuters) - South Africa's National Union of Mineworkers (NUM) has declared a dispute against small mining firm Northam Platinum, it said on Friday.

The NUM declared a dispute, the first legal step towards going on strike, after the company refused to submit a wage offer, it said in a statement.


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Platinum, Palladium Rise as Falling U.S. Dollar Boosts Investment Appeal

(Bloomberg) -- Platinum and palladium rose in New
York along with other precious metals as a decline in the U.S.
dollar boosted their appeal as alternative investments.

The dollar fell to a two-week low against the euro after
European Central Bank President Jean-Claude Trichet suggested he
may extend interest-rate increases. Platinum, mostly traded in
dollars, has risen 14 percent this year as the dollar dropped
1.5 percent against a basket of six major world currencies,
including the euro.


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Platinum Climbs in London After Impala Labor Talks; Palladium Also Gains

(Bloomberg) -- Platinum climbed to a one-week high
in London after pay talks continued without an agreement at
Impala Platinum Holdings Ltd., reviving speculation miners will
strike in South Africa, the biggest producer of the metal.
Palladium also rose.

Negotiations that continued until 11 p.m. local time
yesterday failed to bring a breakthrough, Eddie Majadibodu,
chief negotiator for the National Union of Mineworkers, said
today. Anglo Platinum Ltd., the biggest platinum producer, is
halting output at its Rustenburg underground mine for safety
checks in two days' time following the deaths of five workers in
the past two weeks.


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Platinum Futures Hold Near Record High in Tokyo as Mining Costs May Rise

(Bloomberg) -- Platinum futures held near a record
high in Tokyo on speculation wage disputes in South Africa would
push up production costs, and as gains in gold this week lured
investors to other precious metals.

South Africa's National Union of Mineworkers yesterday
rejected a wage increase offer by Impala Platinum Holdings Ltd.,
the world's second-biggest platinum producer, because it wasn't
big enough. Gold for immediate delivery has gained about 2
percent in the past six trading days, drawing buyers to other
precious metals as well, Jonathan Barratt, managing director of
Commodity Broking Services in Sydney, said today by phone.


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Platinum Gains as Anglo Platinum Halts Rustenberg Mine; Palladium Advances

(Bloomberg) -- Platinum rose the most in two weeks
after South Africa's Anglo Platinum Ltd., the world's biggest
producer, halted output at its largest mine following the deaths
of five workers in the past two weeks. Palladium also advanced.

The Rustenburg mine will be closed for as long as seven
days, reducing annual production by between 10,000 and 15,000
ounces, Johannesburg-based Anglo Platinum said in a statement
today. Platinum supply fell short of demand in seven of the past
eight years, helping prices to more than triple since 1998.


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Platinum Falls in London as Higher Rates May Slow Demand; Palladium Drops

(Bloomberg) -- Platinum fell for a fourth successive
day in London on speculation rising borrowing costs in Europe
will slow demand from car manufacturers. Palladium also dropped.

Europe was the biggest user of platinum last year, dominated
by demand from manufacturers of auto catalysts to reduce
pollution, according to London-based manufacturer Johnson Matthey
Plc. The European Central Bank, the Swiss National Bank and the
Bank of England have raised interest rates this year.


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