Proposal of Establishment of South African PGMs Exchange Delayed

Mining Weekly reported that the vested interests of the existing market structures and the lack of understanding within the industry and in government’s policy creation circles are the reasons behind the delay in the establishment of PGMs exchange in South Africa.

As quoted in the market news,

As more than 80% of the world’s known platinum-group metals (PGMs) reserves are in South Africa, it is ideal that a PGMs exchange be established locally to ensure that the country receives maximum benefit from its mineral wealth, avers investment company Pan-African Investments & Research Services CE Dr Iraj Abedian.

Abedian has been advocating the establishment of a locally based PGMs exchange for about the past five years.

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