SA’s platinum industry, which has for years been pushing hard for the government to launch a platinum coin like the Krugerrand has a new champion in the form of Mineral Resources Minister Gwede Mantashe. SA is one of the leading global sources of gold coins and the platinum mining industry, which is spearheading efforts to increase demand for the metal from a variety of sources, has argued that a Mandela platinum coin named after the country’s first democratically elected president would be a logical addition to the uses of the metal. SA is the world’s leading source of mined platinum, dwarfing its rivals in Russia, Zimbabwe and the US. Speaking after a conference on Tuesday, Mantashe said he was pushing his peers in Treasury and the Reserve Bank to adopt the coin. "I’m already doing that. The response is that the coins are accepted in principle, but it must go through various government processes, and that’s a long process, I can tell you. We need those coins because it’s an interv...
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