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Platinum Week: South Africa Unlikely to See Rise in Platinum
May. 14, 2012 12:49PM PST
Precious MetalsReuters reported Johnson Matthey said South African platinum supplies are likely to decline in 2012.
Reuters reported Johnson Matthey said South African platinum supplies are likely to decline in 2012.
As quoted in the market news:
About 80 percent of the world’s known platinum group metal reserves, valued by Citibank at $2.2 trillion, lie in South Africa, where the industry has been hit by labour unrest and a government safety drive.
Supplies of platinum from South Africa increased by 5 percent in 2011 to 4.86 million ounces because of inventory releases, the metals refiner said in an annual report.