Bloomberg News

Impala Strike Costs Market 3,000 Ounces of Platinum a Day: RBS

February 13, 2012

Feb. 13 (Bloomberg) -- The strike at Impala Platinum Holdings Ltd.’s Rustenburg mine in South Africa is costing the market about 3,000 ounces of metal a day, equivalent to about 17 percent of estimated global supply in 2012, according to Royal Bank of Scotland Group Plc.

This has buoyed platinum prices and led to the “collapse” in the gold-platinum premium, analysts Nick Moore and Nikos Kavalis wrote in a report today. “We expect this trend will continue and forecast gold will move to a discount against platinum” by the fourth quarter of the year, they wrote.

To contact the editor responsible for this story: Glenys Sim at gsim4@bloomberg.net


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