Norilsk Nickel Expects Platinum Deficit On South African Strikes

Bloomberg reported strikes in South African mean global platinum supplies may fall short of demand this year, according to OAO GMK Norilsk Nickel (LSE:MNOD).

As quoted in the market news::

Platinum futures rallied to the highest in more than five months yesterday on concern that supplies will be disrupted by labor unrest in South Africa, the world’s largest producer of the precious metal. Strikes and pit closures meant mining companies extracted 380,000 ounces less than they could have this year, equivalent to about 6 percent of global output, Deutsche Bank AG estimates.

Click here to read the full Bloomberg report.