The gold mining industry that built South Africa and produced about half of the yellow metal that’s ever been dug up seems now to be in terminal decline.
Prices of 65% iron-content ore for delivery to China hit a five-year-peak of $110.5 a tonne on Thursday, while its premium to benchmark 62% ore widened to five-month highs.
Specialist materials firm Johnson Matthey forecast a 127,000-ounce platinum shortfall this year, after surpluses of 372,000 and 44,000 ounces in 2018 and 2017 respectively.
SailingStone Capital, the second largest shareholder in Rio Tinto- controlled Turquoise Hill is expected to vote against the re-election of the Canadian miner’s board members this week.