Platinum output fell by nearly 40% as a consequence of a more than three-month strike over pay in the sector South Africa.
Platinum hits 3-week low and palladium falls back below $800 an ounce.
Now a $2 billion stock, Stillwater Mining gaps higher again on Monday as South Africa-Russian supply picture darkens.
CEO Mark Cutifani said the Rustenburg operations were no longer considered one of the company’s core assets.
Palladium breaks through $800 to two-and-a-half year high as lease rates double and ETFs attract 270,000oz in two weeks.
Defying all expectations of a continued rally, palladium lost 3% and platinum fell back to pre-strike levels on Monday.
What works well for gold may work for PGM, too.
The now three-month strike over pay in the country's platinum belt has forced Amplats to declare a force majeure on a long list of suppliers.
The real issue in South Africa is that there is a very big gap in incomes.
Rick has recently warned investors not to become too bullish too soon – there will be more pullbacks and sell-offs ahead.
The frequency of TB among mineworkers is ten times higher than the level of a health emergency as defined by the World Health Organization (WHO).
Earlier this month the company said it would not hit its sales guidance of 750,000 ounces of platinum annually, as it has already lost 90,000 ounces since the strike began.
Platinum miners said the financial cost of the strike doesn’t really tell the full story, as the real victims are those suffering from hunger, lack of businesses and increased violence on the streets.
Stats like platinum-backed ETF holdings surging to a record high have so far failed to move the price. Speculators are betting that's about to change.
The more or less severing of relations between Russia and Europe will accelerate a Russian pivot towards China.
Precious metal hits two-and-half-year high over supply uncertainty from top producing countries.
The pieces not only are historically significant, but they are also unique as rarely ever Papal jewellery goes for sale.
When it comes to Wall Street, oil isn’t the only commodity investors are seeking stable supplies of—you can add platinum to the list.
Bear markets lead to bull markets; and this bear market will end at some point.
I’m not always sure that everyone appreciates the role of psychology in the investment world–but to ignore the irrational nature of the herds of people involved in speculating on the value of this or that asset is to ignore the reality of the human beast, in my mind.
More than conquering the age-old quest to turn base metals into precious ones, these scientists are applying modern day alchemy to build the next-generation of fuel cells and electrolyzers.
The new law also lets the state to acquire an unspecified additional share at an “agreed price,” among other debated changes.
Fresh evidence contradicts South African police account of the events, which claims most died as they opened fire when striking miners charged officers.
Rather than shoot for the stars, Paul Adams of DJ Carmichael argues that junior miners should focus on more modest projects best suited to maximizing shareholder value.
The first contest in a series of many, kicks off on March 17.
Despite stagnant wages and increased borrowing, Americans ramped up their consumer spending in January.
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