Top platinum miners declare force majeure

[5huggy]

JOHANNESBURG/LONDON (Reuters) - The world’s largest platinum producers Anglo American Platinum, Sibanye Stillwater and Impala Platinum have declared force majeure on contracts after a three-week national lockdown forced operations to close.

 

South Africa, which accounts for around 70% of mined platinum, called the shutdown last week to try to slow the spread of the coronavirus outbreak.

The measure triggered a downgrade by ratings agency Moody’s on Friday and will hit the country’s mining industry, which accounts for about 7% of GDP.

Miners have put many of their operations in care and maintenance and have reduced metal processing, while the coronavirus has also slowed demand from global car companies.

full article here - -  >>  >https://www.reuters.com/article/us-health-coronavirus-safrica-mining/top-platinum-miners-declare-force-majeure-after-coronavirus-lockdown-idUSKBN21H12O

[5huggy]

BUY signal IMHO! 😉 👍

[BazzaC]

Cant find any anywhere, and if I do it's nowhere near spot 🙄

[5huggy]

11 minutes ago, BazzaC said:

Cant find any anywhere, and if I do it's nowhere near spot 🙄

https://www.royalmintbullion.com/Products/Britannia/Platinum/BB201ZPC 😉  👍

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Added 0 minutes later...

https://www.royalmintbullion.com/Products/New-Releases

[BazzaC]

Cheers @5huggy 

[Uksilverstackers]

I do like the Royal Arms Platinum 👍

[Uksilverstackers]

Just for info, Amplats declared force majeure on 6 March following an explosion....

 

An explosion in February at the first converter, which readies matte from Amplats’s four smelters by stripping out iron ahead of the refining processes, and then inexplicable water ingress at the second standby converter plant in March, prompted the force majeure declaration on March 6.

Amplats lowered its refined metal output forecast for 2020 by 900,000oz of platinum, palladium, rhodium, ruthenium, osmium and gold for 2020, representing about a fifth of its annual output.

 

Amplats to fix processing plant