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South African Platinum Supply to Rise 5%
Boosted by stockpile sales - Johnson Matthey
JOHANNESBURG (Reuters) -
Supply of platinum from South Africa, the world's top source of the precious metal, will rise by 5 percent this year, with the sale of stocks countering lower output, a leading metal refiner said on Tuesday.
The producer of four fifths of the world's platinum, will see supply rise by 210,000 ounces to 4.73 million ounces in 2009 mainly due to sales of the metal produced last year, but were unsold until this year, Johnson Matthey (JM) said in its Platinum 2009 Interim Review.
Although three new mines have started up in South Africa, and a number of others have increased production, output of platinum concentrate will fall, but changes in refined stocks will ensure supplies will increase, JM said. [Read more...]
Filed Under: Non-Gold Metals Tagged With: mining stocks, platinum
Lonmin to Boost Platinum Output 20%
By 2013 to take advantage of climbing prices
LONDON (Reuters) -
Lonmin Plc, the world's third biggest platinum producer, swung to an annual loss on weak prices and lower output, but said it planned to boost output by a fifth by 2013 as prices climb on shortages.
[Read more...]
Filed Under: Non-Gold Metals Tagged With: company profile, london, platinum
Precious Metals Forecasting
LBMA Conference - bullish on gold but terrified on dollar...
London -
Asked by John Reade, in his anchor leg role on the Conference podium, to forecast the gold price at next year's LBMA Conference (late September 2010), the average forecast among this year's Conference delegates was $1,183/ounce,(a gain of 12% in dollar terms. Last year the forecast for today's price was $956.50, which is perhaps a sobering thought for those of us to profess to have crystal balls. We were not asked to project a dollar exchange rate as such, but not surprisingly 63% of delegates thought that the dollar would be weaker next September than it is now. [Read more...]
Filed Under: Gold Prices, U.S. Dollar Tagged With: gold price, palladium, platinum, precious metals