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Bloomberg reported that platinum stockpiles may run out if the most recent round of talks aimed at ending strike action at the operations of Lonmin plc (LSE:LMI), Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) and Anglo American Platinum Ltd. (OTCMKTS:AGPPY) are not successful.
Bloomberg reported that platinum stockpiles may run out if the most recent round of talks aimed at ending strike action at the operations of Lonmin plc (LSE:LMI), Impala Platinum Holdings Ltd. (OTCMKTS:IMPUY) and Anglo American Platinum Ltd. (OTCMKTS:AGPPY) are not successful.
As quoted in the market news:
Anglo Platinum, the largest producer and which is known as Amplats, was able to fulfill customer orders for six to eight weeks, the company said in January. Lonmin stockpiled 42,000 ounces of unrefined metal in the year through September and also had 13,000 ounces of unsold refined platinum, it said in November.
Lonmin declined to comment on guarantees for platinum deliveries when contacted by phone. Amplats wasn’t immediately available to comment.
‘We’re not that far away’ from producers reaching the end of their stockpiles, Justin Froneman, a Johannesburg-based equity analyst at SBG Securities Ltd., said by phone. ‘That’s when you’re going to start to see a real reaction from the market.’