Latest news with #PGM
Yahoo
6 hours ago
- Climate
- Yahoo
Lawyer shares rules on leaving work if it's 'too hot'
A lawyer has shared the rules around working in heat as the Met Office predicts high temperatures across the UK. Some areas may reach 33C on Tuesday, August 12, with mercury remaining high for much of the week. In some countries, there is a legal limit defined in Celsius when it comes to working conditions. READ MORE: Three counties in England set to escape 34C heatwave arriving this week READ MORE: Man lived in flat with ex-girlfriend's dead body for years For example, in Qatar, workers on buildings cannot continue construction work when the outdoor temperature hits 50C. Read More: Man shoved and slashed on Birmingham street In the UK, there's a recommended minimum temperature for a workplace, which is 16C or 13C if employees are doing physical work. However, there is no set maximum temperature clearly defined in the law in the UK - but you might still be able to leave work early, according to PGM Solicitors. This is because employers are expected to have 'reasonable responsibility' to keep a workplace at an acceptable working temperature for people's health. A spokesperson for the firm said: "Many employees believe there is a maximum workplace temperature set by the law which, once reached in the summer, means they're entitled to be sent home from work. Unfortunately this is not the case – yet. "The Trades Union Congress wants to make it illegal to keep people at work indoors if the temperature is above 30C and protection in place for people working outside or driving for a living too. "The good news is that there are still rules that can let you leave an office that is too hot." PGM goes on to quote the TUC, which says: "An employer must provide a working environment which is, as far as is reasonably practical, safe and without risks to health. In addition, employers have to assess risks and introduce any necessary prevention or control measures." The Workplace (Health, Safety and Welfare) Regulations 1992 lay down particular requirements for most aspects of the working environment, The Express reports. Regulation 7 deals specifically with the temperature in indoor workplaces and states: "During working hours, the temperature in all workplaces inside buildings shall be reasonable. When defining reasonable, you need to take into consideration the nature of the workplace such as a bakery, a cold store, an office or a warehouse." PGM continues: "There are six basic factors an employee should look at including air temperature, radiant temperature (i.e. the temperature radiating from warm objects), air velocity, humidity, and what clothing or insulation workers are expected to wear. "The law also states that if 'a significant number of employees are complaining about thermal discomfort' then it's the employer's responsibility to carry out a risk assessment, and act on its results, adjusting the workplace temperatures: If your office is air-conditioned, the employer must assess things if 10 per cent of staff complain If your office is not air-conditioned, 15 per cent must complain In shops and warehouses 20 per cent of staff need to complain The Health and Safety Executive says about the hot conditions: "A meaningful maximum figure cannot be given due to the high temperatures found in, for example, glass works or foundries. "The Workplace (Health, Safety and Welfare) Regulations 1992 lay down particular requirements for most aspects of the working environment. Regulation 7 deals specifically with the temperature in indoor workplaces and states that: "During working hours, the temperature in all workplaces inside buildings shall be reasonable. "However, the application of the regulation depends on the nature of the workplace, such as a bakery, a cold store, an office, a warehouse."
Reuters
6 days ago
- Business
- Reuters
Zimbabwe platinum miners owed millions in unpaid export earnings
HARARE, Aug 5 (Reuters) - Zimbabwe's platinum miners are owed millions of dollars in unpaid exports income under the government's foreign currency retention rules, the mining chamber has said, hurting operations in a sector battling to recover from a price collapse. The southern African country requires all exporters to retain only 70% of their proceeds in foreign currency, with the balance being converted to local currency. The world's third largest producer of platinum group metals after neighbour South Africa and Russia, says it needs the foreign currency to fund vital imports and repay foreign loans. Platinum producers in Zimbabwe, who include Valterra Platinum, Impala Platinum's (IMPJ.J), opens new tab Zimplats ( opens new tab and Mimosa, a joint venture between Impala and Sibanye Stillwater (SSWJ.J), opens new tab, exported PGM mattes and concentrates worth $690 million in the first half of this year, government data shows. However, the government has not been paying the miners the local currency equivalent of their export earnings since January, an official at the mining chamber told Reuters. Deputy finance minister Kuda Mnangagwa confirmed that the government had fallen behind on paying the miners. "There were issues of cash flow constraints, particularly in the first quarter of the year when our revenue collections are at their lowest," Mnangagwa told Reuters on Tuesday. He added that the government was talking to platinum miners to ensure "that these delays don't burden their operations". Platinum group metals, used to make catalytic converters that curb vehicle emissions, are Zimbabwe's second most valuable mineral export, behind gold. Zimbabwe exported gold worth $1.8 billion during the first half of 2025, up from $870 million during the same period last year, thanks to record high bullion prices. Gold producers have also complained about Zimbabwe's foreign currency retention rule, which they say eats into their income when part of their export proceeds are converted into an overvalued local currency.
Daily Maverick
28-07-2025
- Business
- Daily Maverick
Valterra's maiden post-Anglo results underwhelm, but rising PGM prices bode well
The Valterra demerger from Anglo was a fairly straightforward process and the company looks ready to carve out its own destiny. The De Beers disposal will be much more challenging. Valterra Platinum's maiden interim results hardly shot the lights out, but rising platinum group metals prices (PGM) bode well for it as a standalone business outside the Anglo American stable. Indeed, with PGM prices once again on the boil, Anglo may yet rue its decision to demerge its platinum arm as it pivots to a sharper focus on copper, iron ore and fertiliser minerals. Valterra completed its demerger from Anglo in late May as the PGM market was showing the signs of an upturn. But the rally was not completely reflected in its results, which were hampered by an extreme flooding event at its Amandelbult operation – the weather is having a material impact on many a mining company these days. The company took a R4.6-billion hit from that deluge, but expects to get most of the money back from insurance. It also had a hit of R1.4-billion in one-off demerger-related costs – lawyers and bankers don't come cheap. Headline earnings per share tanked 81% to R4.73 per share. But the future, while perhaps not bright enough to don shades at this point, looks promising as the sun once again rises on the PGM industry. Perky prices Prices in the year to date have been perky. Platinum is up over 50% to more than 10-year highs, palladium is 35% higher, and rhodium is fetching 42% more. 'We have guided for a 15% increase in production in the second half, and we will be delivering that into buoyant prices,' CEO Craig Miller told Daily Maverick. 'We have been saying for quite some time that the market is in a deficit, that supply is relatively tight and that demand is robust. And that really played out in June and now July. The basket price in July is 20% higher than where it was in the second quarter.' Several factors explain this rebound from depressed prices that in recent years slashed the profits of PGM producers. These include the supply constraints that Miller mentioned, spurred in part by a collapse of the PGM recycling industry, which has also been battered by low prices. There have also been shifting demand patterns. Record gold prices have seen the jewellery industry switch to lower-priced platinum, while sales of hybrid vehicles – which actually require more PGMs than internal combustion engine vehicles – are gaining traction. For the second half of the year, Valterra will be able to bank on the recovery at Amandebult and higher grades from its cash-spinning Mogalakwena operation. The Valterra demerger from Anglo was also a fairly straightforward process, and the company looks ready to carve out its own destiny. Anglo will be releasing its interim results on Thursday and should provide an update then on its plans to dispose of diamond giant De Beers. The PGM sector has had a rough ride in recent years, but producers of natural diamonds face an existential crisis from the surge in lab-grown gems and changing consumer patterns.
Reuters
28-07-2025
- Business
- Reuters
Valterra Platinum's half-year profit plunges 81% on lower sales
July 28 (Reuters) - South Africa's Valterra Platinum (VALJ.J), opens new tab reported an 81% slump in half-year profit on Monday, hit by lower output and costs associated with its demerger from Anglo American Platinum. Valterra's headline earnings were 1.2 billion rand ($67.62 million) in the six months to June 30, down from 6.5 billion rand in the same period last year. The miner said its sales of platinum group metals (PGM) sales decreased by 25% to 1.48 million ounces in the first half, mainly owing to the impact of flooding at its Amandelbult operations after heavy rains in February. Valterra declared an interim dividend of 2 rand per share, down 79% from the payout a year earlier. The world's biggest PGM producer by value demerged in June and is now listed separately in Johannesburg and London while global mining giant Anglo restructures its business to focus on copper. ($1 = 17.7452 rand)
Zawya
15-07-2025
- Business
- Zawya
Implats' Emma Townshend to Speak at African Mining Week (AMW) Amidst Platinum Group Metals (PGMs) Market Sustainability Drive
Emma Townshend, Executive: Corporate Affairs at South African mining company Implats, has confirmed her participation as a speaker at the upcoming African Mining Week (AMW) 2025, Africa's premier event for mining stakeholders. Townshend will contribute to a high-level panel discussion titled South Africa's Strategic Influence in the Global Platinum Group Metals (PGMs) Market, showcasing Implats' role in maintaining South Africa's dominance in PGMs. African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@ Townshend's AMW participation comes at a time when Implats is strengthening its operations to support long-term growth. In July 2025, the company announced the consolidation of its Impala Platinum and Impala Bafokeng Resources ( operations in South Africa. This strategic realignment is aimed at mitigating the effects of PGM price volatility, improving operational efficiency and securing sustainable revenue for both Implats and the broader South African economy, which accounts for approximately 80% of global PGM output. The company also has an ongoing capital investment program ( designed to increase production capacity, extend life-of-mines and enhance local beneficiation. Key projects include a R460 million initiative at Impala Bafokeng to counter declining production. The firm is undertaking over $387 million in upgrades to tailings and smelting infrastructure at Zimplats in Zimbabwe. The development of the Mupani Mine in Zimbabwe is expected to increase the company's annual platinum ore output by 2.2 million tons in 2026 and 3.6 million tons by 2029. Additionally, a R500 million expansion at the Springs Base-Metal Refinery in South Africa aims to strengthen the company's processing capabilities and operational resilience. At AMW, sustainability will also be a major focus of Townshend's remarks. Implats has set an ambitious target to reduce its carbon emissions by 30% by 2030. As part of this effort, the company signed a five-year power purchase agreement (PPA) ( with Discovery Green in January 2025 for the provision of 130,000 MWh of renewable electricity annually to its Springs refinery. The agreement is expected to meet 90% of the refinery's power needs from 2026, cutting approximately 170,000 tons of greenhouse gas emissions annually. The company is also expanding its renewable footprint with an additional 45 MW solar power plant at Zimplats, complementing the 35 MW facility commissioned at its Selous metallurgical complex in 2024. In addition to showcasing operational and environmental initiatives, AMW represents an ideal platform for Townsend to spotlight Implats' leadership in promoting gender inclusivity in the mining sector. The company has already achieved its 2026 goal of 29% female representation in management and continues to integrate gender equality into its broader growth strategy. Distributed by APO Group on behalf of Energy Capital&Power.
