ForceFate
Honorary Master
- Joined
- May 18, 2009
- Messages
- 45,117
- Reaction score
- 30,822
Now, let's continue....
The real world works differently I'm afraid
Now, let's continue....
I dont know if we are subsidizing their power, but if we are, it should stop. Especially in a time of load shedding. Yes, our mining is a big market , however we have larger markets in other spaces that are impacted by load shedding as well.
View attachment 615032
Mining is not a renewable resource. We should not let sustainable business models suffer for unsustainable ones.
Lets also not forget all the externalized costs our society inherits. Ones that the mining companies rarely pay for. Such as the underground acid water build up in Gauteng. These are costs, we, not them, will be paying for generations to come.
Nah, nothing to be afraid about. "The real world" in South Africa works exactly as the picture posted by LewThe real world works differently I'm afraid
Nah, nothing to be afraid about. "The real world" in South Africa works exactly as the picture posted by Lew
Yeah, yeah, FORECASTS tend to do just that. "Billion and trillions of OZs will be used...." actual output and consumption is what matters.
https://www.businesslive.co.za/bd/c...ican-output-will-bring-down-platinum-surplus/
There is still a surplus of Platinum in the world today. The US alone can supply any demand. South Africa is no longer a player. The government made sure about that.
Record palladium prices and a weaker rand are lifting the gloom enveloping South Africa’s platinum industry.
For South African producers, the rally in palladium is partially offsetting the slump in platinum prices to near a decade low. Combined with a decline in the rand, which lowers costs for miners selling metal for dollars, that’s extending a lifeline to companies such as Impala Platinum, Sibanye Gold and Lonmin.
“While the outlook for South Africa’s platinum industry is uncertain, we do not believe it is as bleak as perceived, at least for some producers,” said Carsten Menke, a commodity strategist at Julius Baer Group.
The price of palladium, used mainly in pollution-control devices in gasoline vehicles, has almost tripled over the past three years, including a 42% gain since August. Rhodium, another byproduct of platinum mining that’s used in cars and the chemical sector, has climbed fourfold since July 2016. Smaller quantities of the other platinum-group metals - iridium, ruthenium and osmium - are also extracted from South African mines.
Implats rose the most in more than two months in Johannesburg trading on Monday after the world’s No. 2 platinum producer rebounded to a first-half profit from a year-earlier loss. The turnaround was driven by higher platinum-group metals prices, the company said.
“We have customers asking to buy all our palladium and rhodium,” Johan Theron, a spokesman for Implats, said before the results were released. That demand doesn’t fully compensate for losses from mines that produce mainly platinum, he said, and the company still plans to cut 13 000 jobs at its giant Rustenburg complex.
Anglo American said it expects 2018 profit to as much as double, boosted by a 13% increase in the basket price of PGMs. The world’s biggest platinum miner is also expanding its Mogalakwena mine that is highly geared toward palladium.