4 Uses of Platinum: An Overview

Platinum can be used in autocatalysts and jewelry, as well as for medical and industrial purposes.

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David Franklin: Platinum Price Going Higher

At last week's World Resource Investment Conference in Vancouver, Andrew Topf, senior editor at the Investing News Network, spoke with David Franklin, market strategist at Sprott Asset Management, about the markets for platinum and palladium.

Company News

Sudbury Platinum Closes $1.5-million Financing

Sudbury Platinum Corp., a private subsidiary of Transition Metals Corp. (TSXV:XTM), has closed a non-brokered private placement with Royal Nickel Corp. (TSX:RNX) for gross proceeds of $1,500,000.

AMCU Ready for Six More Months of Striking

Mining Weekly reported yesterday that South Africa's Association of Mineworkers and Construction Union (AMCU) is prepared to keep striking for another six months at the operations of major miners Anglo American Platinum Ltd. (OTCMKTS:AGPPY), Lonmin plc (LSE:LMI) and Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY).

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Company Videos

INN Video: Greg Johnson of Prophecy Platinum on Exploration in the Yukon

Prophecy Platinum Corporation (TSXV:NKL) President & CEO, Greg Johnson spoke with the Investing News Network during PDAC 2013 in Toronto, on platinum exploration in the Yukon. Most of the world's platinum-palladium deposits are in 'high risk' zones according to Mr. Johnson, whereas Prophecy has a large undeveloped deposit in the mining-friendly Yukon. Mr.Johnson believes that Prophecy will be able to address North American platinum demands over the next few years.

Market News

Platinum Deficit to Continue for Years

Bloomberg reported today that Morgan Stanley predicts the worldwide platinum deficit, augmented by over three month long miner strikes in South Africa, could last four years before it gets corrected.

Platinum Prices Could Rise Again Soon

Although platinum and palladium saw price drops on Monday, CNBC has pointed to a broader 5-percent jump in year-to-date platinum futures prices as well as a 7-percent price jump for its sister metal.

Platinum Prices Take a Dive

Frik Els of Mining.com reported that platinum prices fell by more than $20 per ounce on Monday while palladium prices also declined. According to mining, prices for the metals are not reacting as expected to supply squeezes from Russia and South Africa, especially in light of revived demand from the European automobile industry.

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