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Gold/Mining/Energy : SOUTHERNERA (t.SUF)

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To: GULL who wrote (7026)	12/25/2002 10:38:49 PM
From: Letmebe Frank	of 7235

This is from an old friend, George Tromp, inspirational in the Winspear days... and Merry Christmas to all... China Consumes Platinum as Jewelry Sales Boom By Naomi Slater Posted: 12/23/2002 (Rapaport…December 23, 2002) China has become the largest consumer of Platinum according to the China Gem Association. As jewelry sales in China boom, the Chinese are showing a preference for platinum and diamonds rather than the traditional gold and jade. China imported 40 tons of platinum in 2001, around 55 percent of total world output. Consumption exceeded $2 billion, ranking it first in the world for the third year in a row. The annual sales of jewelry have increased from $24 million in the early 1980's to $10 billion in 2001. Annual sales of diamonds and pearls have reached a total of $1 billion, of which $725 million was sold in the domestic market. The China Gem Association predicts that in 2010, annual domestic sales for the Chinese jewelry industry will reach $22 billion, with export sales at $5 billion. Message 18368147 So where is all this platinum going to come from?

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