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Watch These Three Platinum Projects, Says Johnson Matthey’s Cowley
Jun. 28, 2013 09:51AM PST
Precious Metals InvestingPlatinum Today reported that “relatively low” prices for platinum group metals and a rising cost base are together putting pressure on the platinum sector, according to Alison Cowley of Johnson Matthey. She believes good prospects for demand are coming, but thinks that those in the industry need to focus on where production will come from in the future.
Platinum Today reported that “relatively low” prices for platinum group metals and a rising cost base are together putting pressure on the platinum sector, according to Alison Cowley of Johnson Matthey. She believes good prospects for demand are coming, but thinks that those in the industry need to focus on where production will come from in the future.
As quoted in the market news:
But there are some bright spots for South Africa’s embattled platinum sector, notably a few big projects.
The Wesizwe Bakubang platinum mine is currently under construction. “It has a deep shaft that is going to take several years to build and it will take even more time for the mine to start production,” notes Cowley. It will produce around 350,000 oz/y from the underground mine.
Northam Platinum’s Booysendal mine is another gearing up for full production. Output will be about 160,000 oz of metal in concentrate when at full tilt.
In addition, world number two producer Impala Platinum has announced a new shaft at Rustenburg that will ensure it maintains production levels for some time to come. The shaft will deliver 185,000 oz annually by the time it ramps up to full production at the start of the 2018 financial year.