Platinum Futures Near Eight-week High on Supply Concerns
Platinum – The Wall Street Journal reported that platinum futures came close to an eight-week high today on the back of worries about disruptions in supply from South Africa.
Articles Tagged "South Africa"
Kimberley Process Loophole Raises Concern
Diamond – The Guardian reported that under the Kimberley Process, conflict diamonds are defined as diamonds "sold by a rebel group to wage war against a government." However, Human Rights Watch believes there is a "major loophole" in that description as it means that governments are not stopped from "committing abuses" when mining and selling diamonds. The publication fears that this week's Kimberley Process meeting will fail to account for that fact.
3,000 Implats Workers Strike in South Africa
Platinum – Bloomberg reported that about 3,000 Impala Platinum Holdings Ltd. (OTC Pink:IMPUY) workers began a strike after an employee was let go yesterday at one of the company's South Africa-based mines.
2013 Platinum Price Contingent on South African Supply
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.
David Franklin: Platinum Price Going Higher
Platinum – At last week's World Resource Investment Conference in Vancouver, Andrew Topf, senior editor at the Investing News Network, spoke with David Franklin, market strategist at Sprott Asset Management, about the markets for platinum and palladium.
ETFS Physical Platinum Shares is a Buy, Says Zacks
Platinum – Zacks Investment Research reported that investors interested in the ETFS Physical Platinum Shares (ARCA:PPLT) ETF should keep an eye on conditions in South Africa as violence and labor unrest could cause volatility for the ETF. For now, the firm is maintaining a "buy" rating on the fund.
Over 99 Percent of Traded Diamonds Now Conflict Free
Diamond – Mining Weekly reported that, according to Susan Shabangu, South Africa's minister of mining, over 99 percent of the diamonds currently being traded are conflict free. That's a fairly large jump from about 85 percent during the 1990s.
Platinum ETPs Gain on South African Concerns
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.
De Beers and Diamcor Push Through Southern Africa Flooding
Diamond – Unusual weather in Southern Africa caused problems for De Beers and Diamcor Mining in the first quarter of this year, but both companies are confident that no lasting damage has been done.
South African Platinum “Rescue Plan” in the Works
Platinum – Reuters reported that in order to maintain the viability of its platinum and gold industries, South Africa may make unspecified "interventions" into the sectors.
