Platinum Week: South Africa Unlikely to See Rise in Platinum

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.

Click here to read the full Reuters report.