Platinum Market News Directory

Platinum Prices to Rebound from a 5 Year Low

Mineweb reported that platinum prices are poised to rebound from a five year low due to shrinking platinum stockpiles, rising demand from carmakers and new uses of platinum being charted out in the energy field.

Robert Friedland: Platinum Becoming Increasingly Key in Japan

Mining Weekly reported that according to mining magnate Robert Friedland, platinum is becoming an increasingly important metal in Japan. For instance, the country is building fuel cells that use platinum to provide clean electricity and heat, and plans to run the Tokyo Olypmics on fuel cells.

Zimbabwe May Revoke Platinum Export Tax if Refinery Built

Reuters reported that the Zimbabwe government would consider removing a tax on raw platinum exports, but only if mining companies build a refinery and process platinum locally. The 15 percent tax was implemented January 1, but according to Mines Minister Walter Chidhakwa, the platinum tax could be removed.

Platinum Sector Yet to Recover from Strike

Business Day Live reported that the platinum sector is still reeling from last year's South African strike, with the output levels in the sector more than 20 percent lower than pre-strike levels.

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.