South Africa’s Platinum Woes Could Benefit Zimbabwe

AllAfrica reported that as per information from Johnson Matthey’s Platinum 2013 report, reduced platinum output in South Africa could give Zimbabwe the opportunity to export more of the metal.

As quoted in the market news:

‘The year 2012 saw an exceptional disruption to platinum mining in South Africa. At least 750 000 ounces of production was lost to strikes, safety stoppages and mine closures,’ the report said.

According to the report, Zimbabwe produced 340 000 ounces of platinum last year but production at the three platinum mines has since increased and Zimplats’ Ngezi mine’s plan to increase platinum production to 270 000 ounces annually by 2015 is on schedule.

Click here to read the full AllAfrica report.