New gemstones mining and marketing company is stepping up efforts to kick off operations at some of its key assets and help organize what it calls "a highly disorganized and fragmented industry."
Platinum demand fell nearly 7 percent last year, with sharp falls seen in Japanese investment and Chinese jewellery buying as well as a slowdown in consumption by carmakers, who use the metal in catalytic converters.
Proceeds from the placing will fund ongoing diamond exploration in South Africa and Botswana, and will also provide the company with additional working capital, the company said.
The firm, North America's No.1 producer of coking coal, said the boost in profit was mainly thanks to the reversal of an impairment charge related to an improvement in the outlook for steelmaking commodity.