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Platinum supply drops to 13 year low as mines close

Posted on 06 February 2013

Platinum supplies are falling to a 13-year low as mines in South Africa, the world’s biggest producer, close and automobile sales reach new highs. Production will drop 2.7% to 5.68 million ounces, the least since 2000, according to Barclays, which raised its 2013 shortage estimate sixfold last month after Johannesburg-based Anglo American Platinum (AMS) said it plans to idle shafts.
At the same time, demand from carmakers, the biggest consumer of the metal, will increase 0.5% in 2013, Barclays says. Investors are buying platinum at the fastest pace in three years………………………………………..Full Article: Source


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