| The phenomenal success of Absa Capital’s NewPlat ETF, which it listed in April, reflects long-term belief in the platinum price, but disillusion in the local industry’s ability to mine it profitably.
The NewPlat exchange-traded fund (ETF) already accounts for around 20% of total global platinum ETF holdings, according to data analysed by Reuters. “There is appetite for platinum ETFs and with good reason,” says Alon Olsha, senior metals and mining analyst at Macquarie in London. “Investors in general remain reasonably bullish on the long-term fundamentals for the metal.”..............................................Full Article: Source |