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Gold/Mining/Energy : Platinum Group Metals (PGMs)
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To: Gord Bolton who wrote (314)3/24/2000 4:42:00 PM
From: Ptaskmaster   of 529
 
China and the Soya Bean connection in 1999.-

"... customs officers had detained a woman in the Russian Far East last month for attempting to smuggle 10 kilo's of platinum and palladium into China .... [And] a Chinese lorry had been seized at Nakhodka in Russia bearing a sizeable shipment of platinum and palladium catalyst disguised as soya beans in January this year. Such stories are not uncommon. While smuggling is not new at this border crossing, the extent to which Platinum Group Metals (PGMs) have become the focus is surprising. These stories reflect both the dire position of unpaid Russian miners who are unable to sell their large stocks of PGMs through the State apparatus - whereas across the border in China the same metals trade at a large premium to world markets driven by burgeoning demand.
----snip----
Meanwhile business is likely to remain brisk on that Chinese-Russian border where there are reports that the Chinese are building a large PGM refinery with a 6m ozs capacity in Fushun City, Liaoning and extensive PGM fabrication facilities in Yunnan Province. Presumably 'soya bean' trade is also expected to remain buoyant . . .

From Ross Norman (Precious Metals Research Ltd), "Russian Platinum Group Metals", in Commodities Now at
commodities-now.com
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