WPIC Releases Stats on Aboveground Platinum Stockpiles

The amount of platinum stockpiled aboveground isn't usually discussed, but the World Platinum Investment Council lays out the numbers in its inaugural quarterly platinum report.

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Company News

NovX21 in Talks with Quebec Government Over Plant Financing

NovX21 in Talks with Quebec Government Over Plant Financing

NovX21 (TSXV:NOV) confirmed it is in talks with the Quebec provincial government to finance the construction of a commercial extraction plant at the Thetford Mines. The funding was requested under the Créativité Quebec financial aid program.

Johnson Matthey Sells Gold and Silver Refining Unit to Asahi

Johnson Matthey plc (LSE:JMAT) announced plans to sell its gold and silver refining business to Asahi Holdings Inc. (TSE:5857) for US$186 million. The transaction is expected to be completed by the end of March 2015.

Polymet Reports Third Quarter Results

Polymet Reports Third Quarter Results

PolyMet Mining (TSX:POM) reported its financial results for the three and nine months ended October 31 2014. The company has also executed a confidential, non-binding term sheet for a loan facility of up to US$30 million, anticipated to close early in 2015.

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Market News

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.

New Industry Body to Stoke Investment Demand for Platinum

According to Reuters, a new industry body being formed to encourage investment demand for platinum is set to launch later this year. The body, which will likely be based in London or Johannesburg, will be called the World Platinum Investment Council.

Platinum Bull Market to Come?

According to an article from Seeking Alpha, platinum could still stand to swing into a bull market this year on the back of shrinking resources and slowing production from South Africa. Analysts from J.P. Morgan and Standard Bank see stockpiles that have stopped prices from rising as of late are rapidly being depleted.

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