PGM BALANCE:
Platinum mining companies mine a group of metals and not only platinum, which, in the current period of platinum price downturn, is a blessing. If current platinum mining did not have the support of record-priced palladium and rhodium, a word stronger than ‘crisis’ would have to be used to describe it. In addition, it has ruthenium, osmium and iridium and, for some, also nickel, copper and gold. Regrettably, the bad turn diesel vehicles have taken continues to hurt platinum. Only last week, Audi CEO Rupert Stadler, the most senior Volkswagen group executive implicated so far in the emissions cheating scandal, was arrested, which is a fresh blow for platinum, an innocent victim.
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