Platinum rebounded early in ’09, and came back into the four digits, the metal’s highest value in over 12 weeks. In 2008 the metal went on a wild ride, hitting a peak of $2,290 per ounce, and then came crashing down to a three digit value. Despite the metal starting the year on a good note, RBC capital markets has cut its platinum price forecast for the next two years.
Zimbabwe’s biggest platinum mine Zimplats on Tuesday warned its survival was under threat and expected significant losses due to the fall of metals on the international market. For full story, click here
South African based mining entrepreneur, Mr Loucas Pouroulis, indicated that he was looking forward to replicate the success of Eland Platinum (of South Africa) with another platinum venture called Kameni, which will develop new mines in South Africa and Zimbabwe. For full story, click here
South African mining group, Kameni has mulled plans to develop new platinum mines in Zimbabwe and South Africa. For full story, click here
Tuesday, January 13, 2009