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Platinum miners that are not based in South Africa!!! (PLAT)     

Tonker - 28 Jan 2008 01:11

With the price of platinum increasing so much because of the problems in south africa, it would be good to find a company on the LSE that has good production outside of south africa. Can anyone make any suggestions?

oilyrag - 05 Feb 2008 06:52 - 9 of 10

30 Jan sp 5.50, 4 Feb sp 7.40. Thats a 35% hike in 2 trading days.

HARRYCAT - 06 Apr 2008 10:47 - 10 of 10

April 4 (Bloomberg) -- Platinum rose as the dollar weakened and as concerns mounted that output may be disrupted from South Africa and Zimbabwe. Palladium fell.

``I don't see the situation in South Africa improving any time soon,'' said Walter Otstott, a senior broker at Dallas Commodity Co. in Dallas. ``Platinum is up because of the dollar, and on sagging confidence in the South African electricity situation being rectified, and supply slackness in Zimbabwe.''

Platinum futures for July delivery rose $17.60, or 0.9 percent, to $2,030.50 an ounce on the New York Mercantile Exchange. Still, the metal fell 0.9 percent for the week, following a 9.1 percent gain in the previous week.

Platinum soared 34 percent in the first quarter, more than the 33 percent gain for all of last year, after electricity shortages shut South African mines for five days in January. Power supplies have been limited since then. The metal reached a record $2,308.80 an ounce on March 4. South Africa supplied 78 percent of the world's platinum in 2007, according to manufacturer Johnson Matthey Plc in London.

Palladium futures for June delivery fell $3, or 0.7 percent, to $444.40 an ounce in New York. The price fell 22 percent last month, the most in five years, and 2.3 percent in the past week.

Platinum will probably ``test its all-time high within a couple of months,'' Otstott said, while palladium may rise to $600 an ounce this year. Both metals are used in pollution- control components for vehicles and in jewelry making.
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