Impala Platinum Holdings Ltd (IMP:JNB), world’s second-largest platinum producer, held a meeting with labour union the National Union of Mineworkers (NUM) and confirmed that although there are still 34 miners on strike, production of platinum is not affected. Click here to access the entire news
Bank of America Merrill Lynch declared that it has surged its forecast for platinum prices in 2010 to an average $1,350 an ounce from $1,250 previously, citing constraints to mine supply. For full story, click here
Bank of America Merrill Lynch declared that it has raised its forecast for platinum prices in 2010 to an average $1,350 an ounce from $1,250 previously, citing constraints to mine supply. For full story, click here
Anglo Platinum’s plan to add enough flexibility to its operations to be able to supply an extra 500000oz of platinum to the market if demand picks up will add an element of uncertainty to price forecasts. For full story, click here
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, as per Banc of America Securities- Merrill Lynch. For full story, click here
The Blue Ridge mine is expected to produce 75000 ounces of platinum a year. For full story, click here
Demand for platinum will be fuelled up by the new Euro 5 light duty vehicle emissions rules that mandates the use of diesel particulate filters in Europe and by continued growth in vehicle production in China. For full story, click here
Platinum has shed 45 per cent of its value in just nine months. Last Friday the spot price of platinum hit a low of $812.75 per oz. Now, for this first time in 12 years gold has surpassed platinum in value.
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
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.
Get our independent commentary on platinum trends and companies delivered to your inbox.
