South Africa is the world's largest platinum producer and also holds the largest reserves of platinum-group metals. However, the country's influence on the platinum sector looks like it is beginning to fade.
Johnson Matthey said in its Platinum 2013 Interim Review that platinum looks set to record a 605,000-ounce deficit this year.
Shares of Ivanhoe Mines rose today after the company said that at its Flatreef discovery, it has intersected mineralization containing 4.51 grams per tonne (g/t) platinum, palladium, rhodium and gold over 90.64 meters at a cut off of 1 g/t platinum, palladium and rhodium.
Platinum-group metals are mainly produced in South Africa, but a few companies are also exploring for the metals across the globe in South America.
An AMCU-led strike, along with restrictions regarding water use, is disrupting Anglo American Platinum's South African operations.
The Goldrums of June are giving way to a new dawn for platinum group metals, says David Franklin, a market strategist at Sprott Asset Management. While white metal miners face a variety of challenges, there is an increasing demand for platinum and palladium from vehicle manufacturers in the U.S. and China. And supplies of the hard-to-find metal are vanishing day by day. Now is the time to buy into existing stockpiles of the precious metal, Franklin tells The Metals Report.
Gary Nagle and Paul Smith, both executives at Glencore Xstrata, were appointed to the board of Lonmin yesterday.
Russia is the second-largest platinum producer in the world. Here's a look at a few companies mining the precious metal.
Here's a look at five companies that are focused on mining and exploring for platinum in Canada.
Conflict between the NUM and AMCU, two South African unions, is largely behind the strikes at Anglo American Platinum's operations.