Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : North American Palladium(AMEX:PAL)- PGM Producer -- Ignore unavailable to you. Want to Upgrade?

To: Sleeper who wrote (576)	5/16/2000 12:24:00 PM
From: Ptaskmaster	Read Replies (1) \| Respond to of 976

Huge Increase in South African Platinum and Palladium Output. "South African producers will raise platinum production by 1.9 million ounces in the first half of the decade, offsetting an expected shortfall from Russia. "A planned massive production increase by South African producer Amplats, surprised the market. Less than twenty four hours earlier, Johnson Matthey, Amplat's agent said that there would be a 1 million ounce rise over three years. Most of the 26 per cent production increase would take place in 2001, said Johnson Matthey's latest annual review of platinum, palladium and rhodium. ----snip---- "That metal isn't coming from the virtually depleted Russian stockpile, said Jeremy Coombes, head of precious metals marketing at JM. The Russians sold 540 000 ounces in 1999, down 58 per cent from 1998 levels and the entire amount came from the Gokhran (Treasury) stockpile. This year, "a tiny amount of platinum" has come from the Gokhran, said Coombes. It indicates that almost all Russia's future platinum exports will be from nickel producer Norilsk, which mines palladium, platinum and rhodium as a by-product. ----snip---- "...The US National Defence stockpile was run down by 215 000 ounces to help alleviate the shortfall. There are now only 150 000 ounces left. ----snip---- "Russian Palladium Stockpile Is Still High "Russian shipments of palladium were interrupted by the imposition of an export tax, but still accounted for two thirds of world supply, totalling 8.06 million ounces. Auto catalyst demand soared to 5.88 million ounces from 4.89 million as motor companies stockpiled a metal that is subject to major swings in supply. Heavy sales from the Tiger Fund and the National Defence Stockpile, helped keep the price under control in 1999, but this year it surged to $860. "There is more than sufficient potential Russian palladium supplies. Coombes estimates that Norilsk produced 2.4 million ounces out of total Russian exports of 5.4 million ounces last year. There's a lot more in the Gokhran stockpile, he says. Since Norilsk produces a much greater proportion of palladium, the expected increase in production will cause supplies to soar. South African palladium production will also rise sharply." ----snip---- Full story by Neil Behrmann on Miningweb at Moneyweb mny.co.za