• 5 minutes 'No - Deal Brexit' vs 'Operation Fear' Globalist Pushback ... Impact to World Economies and Oil
  • 8 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 12 minutes Will Uncle Sam Step Up and Cut Production
  • 10 hours Russia Accuses U.S. Of Stoking Tensions With Missile Test
  • 51 mins OPEC will consider all options. What options do they have ?
  • 4 hours Maybe 8 to 10 "good" years left in oil industry * UAE model for Economic Deversification * Others spent oil billions on funding terrorism, wars, suppressing dissidents, building nukes * Too late now
  • 1 hour Recession Jitters Are Rising. Is There Reason To Worry?
  • 1 hour What to tell my students
  • 14 hours With Global Warming Greenland is Prime Real Estate
  • 2 hours NATGAS, LNG, Technology, benefits etc , cleaner global energy fuel
  • 5 hours TRUMP'S FORMER 'CHRISTIAN LIAISON' SAYS DEEPWATER HORIZON DISASTER WAS GOD'S PUNISHMENT FOR OBAMA ISRAEL DIVISION
  • 36 mins Trump vs. Xi Trade Battle, Running Commentary from Conservative Tree House
  • 1 hour CLIMATE PANIC! ELEVENTY!!! "250,000 people die a year due to the climate crisis"
  • 21 hours In The Bright Of New Administration Rules: Immigrants as Economic Contributors
  • 17 hours Get First Access To The Oilprice App!
  • 6 hours Flaring is at Record Highs in Texas
Alt Text

What The Market Is Overlooking In The Occidental Deal

Occidental Petroleum has caught a…

Alt Text

How To Play A Recovery In Oil Prices?

A realistic correction in the…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

Here's An Unexpected Spot For Platinum Exploration

Crippling mining strikes in South Africa. Political sanctions in Russia. And major mine collapses in Zimbabwe.

All of these recent events have made one thing very clear: the world needs new sources of platinum.

Together, the above three nations account for over 90% of global platinum output. And with all of them facing major headwinds to production and exports, the sector is looking for answers in different places.

Last week we got news about one such possible destination. Namely, an unexpected corner of the world: New Zealand.

The country's ministry of energy and resources awarded five platinum exploration blocks as part of its New Zealand Platinum Tender 2013. With all of the licenses going to Canadian-listed Coronado Resources (a firm owned 49% by New Zealand oil and gas developer Tag Oil).

Coronado's new permits cover two areas of New Zealand's South Island. Including 355 square kilometers at the north end of the island, near Murchison--and 168 square kilometers at the island's southern end, near the town of Invercargill.

Intriguingly, these areas have been past produces of platinum. Albeit at a small-scale, through alluvial mining operations that ran during the late 19th century through to the early 20th century.

The source of this alluvial platinum has never been identified. But there are mapped ultramafic complexes known across the South Island--of the type that host major platinum deposits like South Africa's Bushveld deposit.

The newly-awarded permits will now allow Coronado up to five years to explore for such a hard-rock platinum source. With government officials noting the company is expected to spend $3 million over the first three years. Potentially rising to $7.5 million during the last two years of the contract.

Related Report: The 5 NEXT Big Oil & Gas Trends

This represents a limited success for the government, given it had also been hoping to license three additional land packages totalling nearly 3,000 square kilometers. Those blocks however, drew little interest from bidders--leaving Coronado as the sole awardee in the bid round.

Nonetheless, this is one of the freshest and most interesting targets going in platinum today. It will likely be some time before we get substantial exploration news here--but certainly a spot to keep on eye on as things get tighter in the world's platinum production centers.

Here's to new ideas for new times,

Dave Forest




Download The Free Oilprice App Today

Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play