Strikes at South Africa's top platinum mines have prompted China's Long March Capital to look into buying platinum assets in the country. Trade unions, however, do not like that idea.
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Frank Holmes, CEO of US Global Investors, says the growing demand for fuel-efficient cars, along with supply disruptions, will cause platinum-group metals to trade higher in 2014.
Lately, Indian men have been favoring platinum jewelry over gold.
Both platinum and palladium are expected to make gains in 2014.
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.