Mineweb reported an interview with Mitsui & Co Precious Metals’ Strategic Analyst David Jollie, who says platinum prices have bottomed out.
David Jollie said:
Well its interesting time I think for the sector – there are a lot of things going on, but the major issue is exactly what you focused on there, which is cost pressures, and you can see some of those are because we’re looking at, in a lot of cases, first generation mines which are becoming more expensive to operate. You can see wage increases, you can see all sorts of things, and that’s in an environment where you’ve got weak commodity prices at the moment, certainly for the platinum group metals. That’s just made life quite difficult.
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