Higher platinum prices are encouraging some in the catalytic converter industry to turn to palladium as a cheaper alternative, but increasing worldwide auto demand, especially for cleaner vehicles, will continue to drive platinum prices higher.
Wednesday, October 20, 2010
Platinum Today reports that Basinvest’s BI Physical Commodity Fund has anticipated need ahead of some major banks, having a 15 per cent exposure to palladium and a ten per cent exposure to platinum. The story is quoted as saying: Ronald Wildman, Managing Director of Basinvest, explained that the Zurich-based company is “pioneering the concept” of asset [...]
Thursday, May 27, 2010
Mining junior, Pan African Resources PLC (AIM: PAF, JSE: PAN) has reported that its Phoenix platinum project reserves of platinum palladium, rhodium and gold, or four-element platinum-group metals (4E PGM) has been increased to 469 000 oz. Pan African CEO Jan Nelson is quoted saying: “In addition, the drilling program underpins the high quality of [...]
Continue reading "Pan African Phoenix Project Increased Reserves to 469 000 oz."
Thursday, October 15, 2009
Nortec Ventures Corporation (TSX VENTURE:NVT)today announced the acquisition of the Haukiaho Palladium-Platinum-Gold-Copper-Nickel Project from an Australian company, Vulcan Resources Limited.
Continue reading "Nortec acquires Haukiaho PGM Project in Finland"
Wednesday, July 29, 2009
As platinum just start down the road to recovery, analysts are already warning that supply threats are likely to boost the metals price to new highs. Platinum prices may climb above $1,500 an ounce “in the next couple of years” as demand recovers amid supply constraints in South Africa, the world’s biggest producer, according to Banc of America Securities- Merrill Lynch.
Continue reading "Supply Threats to Accelerate Platinum’s recovery"
Thursday, June 18, 2009
Platinum was mixed on Thursday, July platinum rose $2.40 to $1,207.60 an ounce, while September palladium declined $3.35 to $239.70. The drop in the three month contract price was related to declining crude oil. Last week, prices of both platinum and palladium climbed to their highest levels since November 2008-
Continue reading "Platinum gets mixed response as crude oil drops"
Friday, June 5, 2009
Platinum prices, already on the positive track, got a boost this week from declining greenback and the announcement of GM’s Bankruptcy. GM’s bankruptcy is by no means a positive for platinum, as the auto industry accounts for approximately half of global platinum demand; however, platinum’s price has been reflecting the impending bankruptcy for many weeks.
Continue reading "GM bankruptcy lends relief to platinum"
Thursday, June 4, 2009
Colossus Minerals (TSE:CSI) reported today results from the first two of it's Phase II drill results. Included in the results were 27.9 meters at 35.49 grams per tonne gold, 19.89 grams per tonne platinum and 25.14 grams per tonne palladium. This mineralization was intersected starting at 208.4 meters down hole. True widths have yet to be reported.
Continue reading "Colossus hits more significant results"
Monday, April 27, 2009
The amount of metal ETF Securities holds to back its London platinum and palladium exchange-traded commodities surged by 2.4 percent and 4.4 percent respectively in the week to last Friday. For full story, click here
Continue reading "ETF Securities platinum, palladium ETC holdings rose"
Wednesday, March 18, 2009
Monday’s equity market rally switched precious metals to a negative track. As equities rose, the precious metals were less enticing to investors, and this was reflected in their value. Platinum for April delivery ended the session in New York down $14.20 to $1,049.40 per troy ounce.
Continue reading "Equity rally bad news for platinum"
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Tuesday, February 8, 2011