Platinum Group Metals (PGMs) Message Board

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Gold/Mining/Energy : Platinum Group Metals (PGMs)

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To: Bruce Robbins who wrote (371)	5/17/2000 1:57:00 PM
From: Ptaskmaster	Read Replies (1) of 529

"Russian palladium has been flowing on to the market for many months, but the first signs to the end of the platinum drought occurred when the first Russian delivery entered Switzerland ten days ago. At London's Guildhall, I met some gents from Almaze, Russia's agents. They insisted that they have and will be selling. Johnson Matthey (JM), the precious metals refiner and agent of Amplats, the giant South African producer, calculates that all the 540 000 ounces of Russian platinum exported last year came from a now depleted Treasury stockpile. Norilsk, Russia's producer, mines 600 000 ounces of platinum and 2.4 million ounces of palladium, estimates Jeremy Coombes, precious metals marketing director at JM. So from Norilsk's 1999 inventories and current output, there's a lot of potential Siberian supply. For the moment prices are holding because Russia is leaking metal on the market, while there are unconfirmed rumours that the metals are being used for loan collateral." Full essay by Neil Behrmann on Miningweb at Moneyweb Net Prophet May Precious Metals Predictions mips1.net

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