LESS RECYCLING THAN EXPECTED
Platinum deficit is likely to persist, say analysts
World Platinum Investment Council CEO says there’s consensus the five-year long deficit will persist
The world’s major platinum producers were confident that autocatalyst recycling and the growth of electric vehicles would not counter the growing deficit in the market, industry leaders said on Tuesday. Paul Wilson, CEO of the World Platinum Investment Council, said at a panel discussion at the Investing in African Mining Indaba that all credible analysts agreed the platinum market had been in deficit for the past five years and the council believed the deficit would persist into the future. Production was constrained because of falling capital spending and rising input costs. Any supply respalponse to rising prices would be slow. Steve Phiri, CEO of Royal Bafokeng Platinum, and Chris Griffith, CEO of Anglo American Platinum, agreed that exchange-traded funds represented a long-term removal of platinum from the market, not an easy source of supply as soon as prices rose. Gerhard Potgieter, acting CEO of Impala Platinum, said that since 2011, mining companies had cut capital spend an...
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