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Zimbabwe’s New Mine Laws May Prevent Palladium Surplus, Standard Bank Says
Sep. 08, 2011 12:02PM PST
Precious MetalsBloomberg reported if Zimbabwe withdraws Zimplats (ASX:ZIM,PINK:ZMPLF) mining license it will prevent a global surplus of platinum and palladium.
Bloomberg reported if Zimbabwe withdraws Zimplats (ASX:ZIM,PINK:ZMPLF) mining license it will prevent a global surplus of platinum and palladium.
The market news is quoted as saying,
Zimbabwe will probably produce 350,000 ounces of platinum next year, or 6 percent of global mine supply, and 280,000 ounces of palladium, or 5 percent of the total, according to Standard Bank. Zimplats may produce about 180,000 ounces of the country’s platinum and 150,000 ounces of its palladium, the bank said.