The Conversation (0)
Mining Weekly reported Northam Platinum’s (FWB:NOC) Consultant Bernard van Rooyen says South Africa’s platinum sector costs too much and lack marketing.
Mining Weekly reported Northam Platinum’s (FWB:NOC) Consultant Bernard van Rooyen says South Africa’s platinum sector costs too much and lack marketing.
As quoted in the market news:
He believes that some platinum miners will be forced out of the industry because of their inability to cover their cash costs.
He calculates that 60% to 70% of platinum mines are currently not covering their costs plus their stay-in-business capital and points out that forward development for a mine is really just an operating cost, and failure to invest in stay-in-business capital will ultimately result in mines having to close down.