Zimbabwe Considering Banning Platinum Exports

Reuters reported Zimbabwe is considering banning the export or raw platinum.

As quoted in the market news:

The southern African country has the second largest known platinum reserves in the world, after neighbouring South Africa, and the top two global producers, Anglo American Platinum and Impala Platinum, have operations there.

Both Amplats and Implats currently send platinum concentrate from their Zimbabwean mines to South African refineries but the Zimbabwe government has over the years tried to encourage the firms into processing the metal locally.

Click here to read the full Reuters report.