Platinum gained to $876 an ounce
On the London Platinum Market, platinum gained to $876 an ounce at the late fixing from $812 a week earlier. For full story, click here
Archive for 2008
Platinum rises after losing as much as 9.4 percent
Platinum rose after losing as much as 9.4 percent and on expectations for reduced supply offset concerns about falling demand from the global automotive industry. For full story, click here
Zimplats Halts Open Cast Platinum Mining
South African owned Zimbabwe Platinum Mines has shut down its open cast mining operations at Ngezi Mine along the rich great dyke, citing a drop in platinum prices on the international market and increasing operating costs in the troubled southern African country. For full story, click here
Greenback’s gain triggers precious metals sell-off
The sharp retreat of the stock market, combined with a higher US dollar has triggered a broad sell-off in the precious metals. Spot platinum slipped to a session low of $794.50 an ounce, down 8.8 per cent from $871.50 an ounce late on Friday.
Lonmin May Cut 5,400 Jobs After Platinum Declines
The world’s third-largest platinum producer, may cut as many as 5,400 jobs, or about 17 percent of its workforce, after prices plunged. For full story, click here
Platinum gained to $876 an ounce
On the London Platinum Market, platinum gained to $876 an ounce at the late fixing from $812 a week earlier. For full story, click here
Spot platinum quoted at $860.50/880.50 an ounce
Spot platinum quoted at $860.50/880.50 an ounce, slightly up from $853 late on the earlier session. The industrial precious metals have suffered more from the economic downturn than gold, with platinum and palladium, which are chiefly used in catalytic converters, both dropping significantly from their summer highs. For full story, click here
4 000 Lonmin workers may be retrenched
Up to 4 000 employees at Lonmin’s South African operations may loose their jobs. For full story, click here
Platinum below marginal cost of production
The correction for many commodities seems overdone. Platinum is materially below the marginal cost of production. For full story, click here
East West Resource Corporation-Eva Kitto Platinum Property Optioned
East West Resource Corporation has entered into an option agreement with International Bethlehem Mining Corp. whereby International Bethlehem has been granted an option to earn an initial 30% interest in East Wests Eva Kitto platinum group element property located north-northeast of Thunder Bay, Ontario. For full story, click here
