Mining Weekly reported production cuts are needed in the platinum sector to restore profitable prices.
As quoted in the market news:
Despite a forecast cumulative surplus of nearly one-million ounces of PGMs by 2015, producers were not expected to further reduce production unless the pressure on profitability significantly increased, Broda said in Nomura’s ‘Platinum Sector Note’, released this week.
The analyst stated that there was a sufficient pipeline of low-cost development projects and existing operations to add another 1.1-million ounces of platinum to the market over the next ten years.
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