Colosseum a.s. (Colosseum a.s.)
Commodities  |  August 23, 2012 16:51:33

One-fifth of global platinum production out of order!

ColosseumApproximately one fifth of global platinum production capacity is temporarily out of service. The cause is a day of national mourning in South Africa for 44 miners and police officers who were killed in the worst violence since the end of apartheid. The company Impala Platinum Holdings (IMP), the second largest producer of platinum, temporarily closed production in some of its mines and to allow employees to participate in the funeral rites. Dissatisfaction miners, however, continues to spread. They demand a salary increase and greater safety. Active contract price of platinum during today's trading climbed to 1,550 dollars per ounce. In the past 6 trading days precious metal strengthened by 11%.

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