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Commodities  |  August 20, 2012 10:39:28

Platinum more expensive due to the unrest in the mines

ColosseumThe six-week highs recorded on the NYMEX price of platinum after a confrontation between striking miners and security forces in the South African mine belonging Lonmin ended with the death of 34 people. Now there are fears that the unrest spread to other mines in South Africa. Lonmin is the third largest producer of platinum in the world after Anglo American Platinum Ltd.. and Impala Platinum Holdings Ltd.. South African mining companies worried in recent months, falling prices and rising costs of platinum. The October contract on Friday platinum traded for up to $ 1,475 per ounce, up from 6 July. Trading volumes were in response to the events in South Africa the largest since the end of June. and # 160;

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