A Look at Several Palladium Mining Companies

Mining & Minerals - Evaluations / Other Metals

Date posted: 09/25/15

Teresa Matich reports that metals prices have been under pressure this year, and palladium has not been exempt. The spot palladium price is down 20.15% year-to-date and hit a five-year low last month. Certainly, that has been tough on palladium stocks. However, the metal has seen an uptick over the past month, with the spot palladium price rising 12%, to about $644 per ounce. Most of the world platinum-group metals (PGMs) are produced in South Africa and Russia by major producers like Anglo American Platinum, Lonmin, and Impala Platinum Holdings, but there are certainly other companies that have an interest in the metal as well. Stillwater Mining is the only US producer of PGMs, as well as the largest primary producer of the metals outside of South Africa and Russia. Its operations include the Stillwater and East Boulder mines in Montana, as well as a smelter, refinery and laboratory in the state. North American Palladium is one of only two primary palladium producers in the world. It been operating its Lac des Iles (LDI) mine in Ontario since 1993. Ivanhoe Mines is developing the massive Platreef project in South Africa, for which it released a pre-feasibility study in January. The mine is slated to be the lowest-cost producer of PGMs in Africa. In February, the company reported that box cutting was underway ahead of construction of shaft collar infrastructure for the mine. Sama Resources holds a number of different projects in Africa, including the Lola graphite property and the Lola nickel-cobalt-scandium property. However, the Samapleu nickel-copper-palladium property is in the Ivory Coast. Sama reported results of a drill program at Samapleu, with highlights including 8 meters of massive sulfide grading 4.08% nickel, 2.43% copper and 0.74 g/t palladium. Wallbridge Mining is currently producing copper and PGMs at its Broken Hammer mine in Sudbury, Ontario, along with Au a and silver. Wellgreen Platinum is in the Yukon offering Pt, palladium, and gold.