Nornickel expects full output to resume at flooded mine this month

Company has been fined $2-billion for the damage caused by the spill last year in Russia's worst environmental disaster in the Arctic.

The project in Limpopo province is also assessing mining of rhodium, nickel, copper and gold.

Investors net sold $1.4 billion in precious metal funds in the week ended Feb. 10.

Metal has broken out of more than a decade of price weakness to reach its highest since 2014.

Platinum rose above the $1,300/oz level for the first time since September 2014.

Prices have climbed to a record high of $4,390 an ounce from $1,685 on Dec. 12, accelerating a rally that began in 2016, when iridium cost around $500 an ounce.

Supply shortfalls have driven rapid price gains, with platinum trading at six-year highs and rhodium and palladium close to record levels.

Company expects half-year headline earnings to increase more than fourfold, buoyed by higher metals prices and a weaker rand.

The interest in Bokoni may suggest that higher metals prices are rekindling investors’ interest in reviving some of the mines in South Africa.