Platinum – Reuters reported that according to Zimbabwe's mines minister, the country will allow foreign-owned platinum mining companies to own majority shares in their operations as long as they build a refinery in the country. The norm is for companies to send mined material to South Africa for processing.
Articles Tagged "Platinum Market News"
Platinum – The Financial Times reported that platinum prices have sunk to a one-month low, pulled down by gold, which has fallen as a result of "easing political tensions after the deal with Iran" regarding its nuclear program.
Platinum – The Economic Times reported that HSBC Holdings plc (NYSE:HSBC) has lowered its platinum price forecast to $1,500 per ounce for 2013 and $1,625 per ounce for 2014. That is down from a previous forecast of $1,580 per ounce in 2013 and $1,725 per ounce in 2014.
Platinum – Mineweb reported that a recovery in the Western European car market may push platinum prices up next year, largely due to the fact that European demand accounts for around one-third of global platinum demand for use in autocatalysts.
Platinum – BDlive reported that while South Africa is the largest source of platinum in the world, supply from other locations — as well as from recycling — has lessened the country's influence on the platinum market.
Platinum – Bloomberg reported that platinum futures for January delivery rose 0.5 percent, to $1,418.10 per ounce, on the New York Mercantile Exchange. Earlier in the day, the price hit $1,405.10.
Platinum – Reuters reported that according to Johnson Matthey's Platinum 2013 Interim Review, this year platinum will hit its largest deficit since 1999 on the back of strong investment and industrial demand.
Platinum – Reuters reported that Robert Mugabe, president of Zimbabwe, said the country may stop exporting raw platinum to South Africa in order to force mining companies to build a refinery in the company.
Platinum – Reuters reported that analysts are surprised that strikes in South Africa have done little to move platinum prices this year. In 2005, striking in that nation pushed prices for the metal to record highs.
Platinum – Writing for Sprott's Thoughts, David Franklin said today that he believes the long-term fundamentals for platinum-group metals (PGMs) are bullish, largely because air quality in China has reached "emergency levels."