Post by cjm on Apr 4, 2014 17:49:41 GMT
A SA wiz kid suggests that SA & Russia should push the price up.
How realistic is this? Is it easy to replace platinum with something else?
...
South African platinum producers, which account for almost three quarters of world supply, should consider controlling output to improve prices, said the head of Africa’s biggest fund manager.
Anglo American Platinum (JSE:AMS) Ltd., known as Amplats, Impala Platinum Holdings (JSE:IMP) Ltd. and Lonmin plc (JSE:LON)Plc, the world’s largest producers of the metal, need prices to climb to offset rising costs in an industry already beset by a “concerning” 11-week wage strike, said Elias Masilela, 49, the chief executive officer of the Pretoria-based Public Investment Corp., which manages R1.6trn ($152 billion), almost all of which is South African government workers’ pensions.
“They may, as an industry, want to think about supply- demand conditions globally to influence the price,” Masilela, 49, said in an April 1 interview in Johannesburg. “South Africa is a major supplier of platinum, but remains a price-taker. There must be a way of balancing that out given it’s size.”
Masilela’s comments echo those by the governments of South Africa and Russia, which together hold about 80% of platinum group metal reserves. The countries plan to set up a production bloc resembling the Organization of Petroleum Exporting Countries, a cartel of the biggest oil-producing countries, they said in March last year.
....
www.moneyweb.co.za/moneyweb-mining/pic-says-platinum-producers-should-control-prices
How realistic is this? Is it easy to replace platinum with something else?
...
South African platinum producers, which account for almost three quarters of world supply, should consider controlling output to improve prices, said the head of Africa’s biggest fund manager.
Anglo American Platinum (JSE:AMS) Ltd., known as Amplats, Impala Platinum Holdings (JSE:IMP) Ltd. and Lonmin plc (JSE:LON)Plc, the world’s largest producers of the metal, need prices to climb to offset rising costs in an industry already beset by a “concerning” 11-week wage strike, said Elias Masilela, 49, the chief executive officer of the Pretoria-based Public Investment Corp., which manages R1.6trn ($152 billion), almost all of which is South African government workers’ pensions.
“They may, as an industry, want to think about supply- demand conditions globally to influence the price,” Masilela, 49, said in an April 1 interview in Johannesburg. “South Africa is a major supplier of platinum, but remains a price-taker. There must be a way of balancing that out given it’s size.”
Masilela’s comments echo those by the governments of South Africa and Russia, which together hold about 80% of platinum group metal reserves. The countries plan to set up a production bloc resembling the Organization of Petroleum Exporting Countries, a cartel of the biggest oil-producing countries, they said in March last year.
....
www.moneyweb.co.za/moneyweb-mining/pic-says-platinum-producers-should-control-prices