Platinum Price Drops to Six-year Low

Platinum Price Drops to Six-year Low

Platinum made headlines on Monday as its price fell to a six-year low. According to the The Wall Street Journal, platinum for July delivery fell 0.8 percent, to $1,088.60 per troy ounce, on the New York COMEX, the lowest since March 2009.

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Videos

Wellgreen Platinum CEO Weighs in on Yukon Project PEA

To learn more about the PEA for Wellgreen Platinum's Yukon-based Wellgreen project, Resource Investing News spoke with Greg Johnson, the company's president and CEO. Here's what he had to say.

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

Bakgatla Ba Kgafela Confident Over Anglo Platinum Mine Stake

Bloomberg reported that Bakgatla Ba Kgafela, a community near the South African mines operated by Anglo American Platinum Ltd.(OTCMKTS:AGPPY), is confident about its prospects to acquire stakes in the operations that Amplats seeks to dispose of.

Amplats Axes over 400 jobs at Rustenburg Platinum Mines

Anglo American Platinum (OTCMKTS:AGPPY) announced its plans to cut over four hundred jobs at its Rustenburg Platinum Mines unit as a continuation of the company’s value-driven strategy in response to the dark outlook for the sector.

Midland Resumes PGE Exploration in the Labrador Trough

Midland Exploration Inc. (TSXV:MD) announced the resumption of the field exploration program on the Pallas Platinum Group Elements ("PGE") project in the Labrador Trough in partnership with Japan Oil, Gas and Metals National Corporation.

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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

CPM Says Global Platinum Supplies to Remain in Deficit

Mineweb reported that CPM Group has predicted that the global platinum supplies will remain in a deficit this year despite the rise in mine production as demand for automobile manufacturing and jewelry is set to rise.

Platinum Price Hits Lowest in 6-year

Mineweb reported that Platinum price hit its lowest in six years this week, with only the platinum-based ETFs providing some upside potential.

Major Platinum Miners Betting on Fuel Cell Technology

Reuters reported that the world's three largest platinum producers are investing in fuel cell technologies, which "generate electricity that can power vehicles by combining hydrogen and oxygen over a platinum catalyst."

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