Polymetal Sees Potential in Platinum Amid Strikes in South Africa

Bloomberg reported that Polymetal International Plc (LON:POLY), which is the biggest producer of silver in Russia, has decided to invest on platinum upon seeing the metal’s earning potential amid strikes in South Africa.

As quoted in the market news:

““We see platinum as attractive metal especially given the recent events in South Africa,” Vitaly Nesis, chief executive officer said by phone today, referring to labor strikes in that country. Polymetal, which also mines gold, said today it agreed to pay $10 million for the Svetlobor platinum exploration project in Russia’s Sverdlovsk region.”

Click here to read the full Bloomberg report.