Much lower supplies and lower volumes of autocatalyst recycling will move the platinum market from surplus to deficit in 2012, according to Johnson Matthey in a “Platinum 2012 Interim Review”, released today.
Financial information provider SNL Financial, Charlottesville, Va., has moved into the metals and mining sector by acquiring Metals Economics Group, Halifax, Nova Scotia. The acquisition makes metals and mining the fifth vertical market for SNL.
The US Commodity Futures Trading Commission should shortly conclude its four-year-old investigation of the silver market but has gone beyond the schedule that was the wish of Bart Chilton, the commissioner who originally called for the probe.
The reality for gold bulls may fall short of their expectations of ever-increasing prices that run ahead of gold supplies, says a self-described gold bug who forecast the initial run-up of gold at the turn of the millennium but who now finds himself in the bear camp for bullion.
Gold and platinum prices jumped by more than $30, silver prices by more than a dollar and palladium by more than $10 after the Federal Reserve issued a statement on Thursday promising continued asset purchases until jobs rebound.
Mining Indaba LLC has lined up Dambisa Moyo, international economist and the author of New York Times bestsellers Dead Aid: Why Aid is Not Working and How there is a Better Way for Africa, to be a keynote speaker at the 19th annual Investing in African Mining Indaba.
Platinum prices jumped to their highest level in six weeks in trading following the killing of more than 30 striking workers Thursday at Lonmin Plc.’s Marikana mine in South Africa’s Bushveld during clashes with police.
Shares of rare earths miner and processor Molycorp Inc. fell to a low of $11.16 in early trading Thursday before recovering slightly to around $11.40, down more than 5% for the day, after the company announced it was selling stock and debt to fund operations.
After selling 812 tons of silver from exchange-traded products last year, investors have bought 797 tons through silver-backed ETPs this year and now hold the equivalent of eight months of mine supply and just under the record 18,639 reached in April 2011.