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Company News

Amplats’ 2014 Profit Down 55 Percent

Mineweb reported that the 2014 profit of Anglo American Platinum Ltd. (OTCMKTS:AGPPY) fell by as much as 55 percent from the previous year due to South Africa’s longest mining strike.

40 Percent of Northam Platinum Workers Report for Duty

Northam Platinum Ltd. (JSE:NHM) announced that more than 40 percent of workers at its Zondereinde mine in South Africa reported for duty after the company procured a court interdict against a strike that started January 13.

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Market News

Platinum Sector Yet to Recover from Strike

Business Day Live reported that the platinum sector is still reeling from last year's South African strike, with the output levels in the sector more than 20 percent lower than pre-strike levels.

Strong US Car Sales Good for Platinum, Palladium Prices

Analysts are saying that strong car sales in the United States will be a boon for platinum and palladium, according to Mineweb. The metals are used in catalytic converters for vehicles.

Platinum Market Shortfall Estimated at 885,000 Ounces

A report put out by the World Platinum Investment Council is calling for a platinum market deficit of 885,000 ounces for 2014, according to Reuters. The report cited strikes in South Africa earlier this year and rising autocatalyst demand as drivers behind the deficit.

Platinum and Palladium to Supplies to Fall Short of Demand in 2015

For the fourth year in a row, platinum and palladium supplies are anticipated to fall short of demand, according to Bloomberg. Citing Johnson Matthey, the news outlet said that increased demand will make up for an increase in output from South African mines following protracted strikes earlier this year.

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