Platinum miners not allowed to influence market, says Implats CEO
01 September 2024 - 07:55
The CEO of Impala Platinum (Implats), the second-biggest producer in South Africa, said competition regulations do not allow for cartel arrangements among local precious metal miners — which have taken a knock from low prices — to cut production and manipulate prices back in their favour.
Nico Muller said the industry as a price taker was not allowed to influence the market, unlike members of Opec, which are allowed to slash production to push prices up. ..
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.