World Platinum Investment Council
Platinum outlook ‘remains lacklustre’ as demand and investment stall
The World Platinum Investment Council expects South African platinum production to slide further in 2017
South African platinum production will slide further in 2017, says the World Platinum Investment Council, as mines are closed in a difficult market that has curtailed investment in growth. The overall decline in global platinum supply would match a similar fall in demand, it said, describing the off-take of the metal as lacklustre. In its latest quarterly report, the council says that platinum consumption in the autocatalyst manufacturing sector is still under pressure. The council was set up in 2014 by six South African platinum mining companies to stimulate investment demand in the metal. Catalysts, which scrub noxious gases from exhaust emissions, account for about 40% of platinum use, with jewellery at 35%. Industrial and other uses consume 20% and investment demand makes up the balance. SA provides 80% of the world’s refined platinum. Soon after comments from Northam Platinum CEO Paul Dunne that South African production would fall below 4-million ounces in 2017 – well off a 200...