Platinum Price Hits Five-and-a-Half-Year Low — What’s Next?

Platinum Price Hits Five-and-a-Half-Year Low — What’s Next?

The precious metal's price fell to a five-and-a-half-year low on Friday, and the platinum-gold spread is at its highest level in almost two years. Still, experts believe there could be brightness ahead for platinum in 2015.

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Company News

Implala Plans to Modernise Rustenburg operation

Mineweb reported that Impala Platinum (OTCMKTS:IMPUY) aimed to structure Rustenburg mines into “smaller, more concentrated mining” operations.

Northam Platinum Plans to Buy More Assets

Mineweb reported that Northam Platinum Ltd. (JSE:NHM) plans to seek more assets after buying Aquarius Platinum Ltd.’s (ASX:AQP) Everest operation.

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Market News

Robert Friedland: Platinum Becoming Increasingly Key in Japan

Mining Weekly reported that according to mining magnate Robert Friedland, platinum is becoming an increasingly important metal in Japan. For instance, the country is building fuel cells that use platinum to provide clean electricity and heat, and plans to run the Tokyo Olypmics on fuel cells.

Zimbabwe May Revoke Platinum Export Tax if Refinery Built

Reuters reported that the Zimbabwe government would consider removing a tax on raw platinum exports, but only if mining companies build a refinery and process platinum locally. The 15 percent tax was implemented January 1, but according to Mines Minister Walter Chidhakwa, the platinum tax could be removed.

Zimbabwe Platinum Export Tax Uncertainty Puzzles Companies

Mining Weekly reported that a platinum export tax levied by the Zimbabwean government in 2013 was not included in the country's 2015 finance bill. The move has left platinum companies confused.

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.

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