• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day How Far Have We Really Gotten With Alternative Energy
  • 1 day Bad news for e-cars keeps coming
  • 9 days For those of you who are full of __it.
Growth in U.S. Oil and Gas Output Slows Down

Growth in U.S. Oil and Gas Output Slows Down

This year's increase in shale…

The New Trucking Trend Transforming Chinese Oil Demand

The New Trucking Trend Transforming Chinese Oil Demand

China's booming sales of LNG-fueled…

Platinum Gains on Miner Unrest in South Africa

Platinum made its biggest gains today since May amid investor concerns over tensions with minors in South Africa and clashes between strikers and security forces that left 44 dead last week. 

With concerns about supply rising, platinum gained 1.3%, settling at $1,518.75 an ounce today, for an overall increase of 9.2% in the past week, according to Reuters.

While security forces and miners clashed last week at the Lonmin mine, other tensions among miners themselves are brewing, with strikers blocking other miners from work at the Rasimone mine owned by Royal Bafokeng Platinum.

The tension may also spread to the largest platinum mine in the country, Anglo American Platinum, where workers have also demanded higher wages. Anglo American Platinum is the world’s largest producer of platinum.

Analysts predict that the unrest will lead to a significant reduction in the current market surplus, and possibly even a deficit by next year.

Among other things, platinum is used in the auto industry for catalytic converters.

By. Charles Kennedy of OIlprice.com

 



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News