creamer media

The global platinum group metals (PGMs) market had to deal with a challenging 2014, with much of the attention centred on the labour situation in South Africa and on the events in Ukraine, and their possible implications for especially palladium. After the turbulence in the South African platinum mining industry in 2012 and 2013, which had been described as one of the most difficult periods in the sector’s history, 2014 was an even tougher year for the world’s largest platinum-producing companies.

An unprecedented five-month strike across the Rustenburg platinum belt, in South Africa’s North West province, battered producers, shutting down 45% of the world’s platinum supply. The strike resulted in about 1.3-million ounces of platinum being removed from the seven-million-ounce market. However, despite the supply-side woes in South Africa, platinum prices hardly responded to the strike, owing to a global oversupply and the selling of inventory. In comparison, three separate strike actuons in 2012, in South Africa, had each added about $100/oz to the platinum price.

Creamer Media’s ‘Platinum 2015’ report reviews South Africa’s platinum-sector business environment, with particular focus on the main participants in the platinum industry, as well as other platinum producers, and exploration and development companies. The report also provides a global overview of the platinum market and an outlook for the sector.

This report is a summary of information published in Engineering News and Mining Weekly, as well as of information available in the public domain. The report does not purport to provide analysis of market trends.

Published on: 12 May 2015.