In an interview with Platinum Investing News, Prophecy Platinum's Greg Johnson shares his insights on the platinum market, the company's Wellgreen project and common misconceptions about the sector.
Rule explains why investing in PGMs may be better than silver or gold in the near term.
A brief overview of platinum price developments, supply and demand and significant market movers.
Zimbabwe is planning to repossess Zimplats' land and distribute it to new investors.
Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) announced voting results from the annual and special meeting of shareholders held on May 21st, 2013, and J. Alberto Arias, John Frostiak, David Garofalo, Greg Hall, Mel Leiderman, Claudio Mancuso, Douglas Reeson, and John S.M. Turner were elected as directors of the Company.
AllAfrica reported that 83 percent of workers striking at Lonmin plc's (LSE:LMI) South Africa-based Marikana mine went back to work on Wednesday night. They had been ordered back to work earlier in the day by the president of the Association of Mine Workers and Construction Union.
Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) provided an update on its Brazil-based, 75-percent owned Serra Pelada gold-platinum-palladium mine, commenting that the mine is on track to begin production of 250 metric tons per day in Q3 2013.
Ivanplats Ltd. (TSX:IVP) announced its financial results for the first quarter of 2013, commenting that the mineral resources at its Flatreef deposit, which is located at the company's South Africa-based Platreef platinum-palladium-gold-rhodium-nickel-copper project, have been expanded and upgraded by a new resource estimate.
Bloomberg reported that as platinum miners limit supply, demand for the metal is increasing. It is expected to end the year at $1,690 per ounce, up 16 percent from its current price.
Bloomberg reported that last year, platinum saw a shortage of 375,000 ounces, the biggest since 2002, largely due to strikes and work stoppages in South Africa, as per information in a report released today by Johnson Matthey.
NASDAQ reported that South African supply problems are making it likely that platinum will see a strong price increase in the coming weeks; that means it may be a good time to invest in platinum ETFs.
MetalMiner reported that on Monday, the price of Chinese platinum bars increased by 1.9 percent, while the price of Japanese platinum bars was little changed.