Business Insider reported an interview with the Gold Report, George Topping and Michael Scoon as they discuss current platinum market conditions.
George Topping said:
Yes, we’re finally starting to see closures. Aquarius Platinum Ltd. (AQP:ASX) shut down its Everest and Marikana mines recently due to low prices, rising costs and labor problems. The mining industry in South Africa, which produces 70% of the world’s platinum and 35% of the world’s palladium, has been disseminated. It won’t be long before prices start to move higher.