CUT SUPPLY BUT NOT JOBS:
Getting the balance right in the commodities business is tricky, but essential. With low dollar platinum prices refusing to go away, attention simply must be given to ending oversupply – but without job loss. Create stockpiles, mine ounces with the best margins in descending order and use Unemployment Insurance Fund surpluses to finance the training and a big percentage of the salaries of idled workers. Giving away platinum to the world at a loss to South Africa must be brought to a halt. The nettle must be grasped. That is the only way to put the dollar price of platinum back on its feet. The chrome industry did it highly beneficially in 2008/9 and now it is platinum’s turn.
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