Platinum – Bloomberg reported that the CEOs of the world's biggest platinum companies, leaders of other South African mines, union heads and South Africa's deputy president met to try to smooth over union rivalry that has caused unrest — including deaths — over the past year.
Platinum – Thomson Reuters GFMS believes that platinum prices could rise to nearly $1,600 this year. South African supply will play a major role in determining whether that happens.
Platinum – ETF Trends reported that the expectation that wage talks in South Africa will end badly has brought platinum exchange-traded products their largest inflows in more than eight months.
Platinum – Reuters reported that workers went on strike at Lonmin’s Marikana mine as the company launched a publicity drive to show that it had already recovered from several months of labour unrest and violence.
Platinum – Mining Weekly reported that banking group Nedbank said the mining sector in South Africa is still suffering from the devastating effects of the labor unrest, as stagnant platinum output continues to affect the country’s mining production growth.
By Dave Brown – Exclusive to ResourceInvestingNews.com Lowered expectations and prolonged uncertainty were seen as the key drivers, leading to market volatility late in the week for equity investors. Mixed economic data being released during the period included: readings of new-home sales, consumer sentiment and durable-goods orders, however these positive stories were buoyed by a [...]
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