How To Fix South Africa’s Platinum Industry

Reuters reported on the problems and potential fixes to South Africa’s platinum industry.

As quoted in the market news:

Platinum looks like a commodity from hell, and not just because it is dug from especially deep mines. The economics and the politics point to a long crisis.

Since August, labour strife has gripped the South African platinum industry, the source of 80 percent of a metal used in car exhausts. Workers want higher pay, to compensate for dangerous work. Unrest that started at world number-three producer Lonmin has spread. Two weeks of wildcat strikes have shut up to 30 percent of daily production at Amplats, the world’s largest platinum miner.

 Click here to read the full Reuters report.