19.08.2015 - Glencore mulls future of platinum mine as commodity prices plunge
Glencore considering shutting Eland platinum mine in South Africa as price of the precious metal continues to tumble. Mining and commodity trading giant Glencore in mulling shutting down its Eland platinum mine in South Africa because of the falling price of the previous metal. The FTSE 100 company is already under pressure because of tumbling commodity prices and is expected to announce a huge drop in profits on Wednesday when it announces interim results. In a statement Glencore confirmed the move, saying “ongoing poor market conditions in the platinum sector and difficult operational conditions at the mine” had driven the process...............................................Full Article: Source
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