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The impact of increasing platinum supplies on the industry in South Africa
[摘要] Platinum, the major metal recovered by the platinum mines in South Africa, is unusual amongmetals in that its commercial applications are limited to three major sectors, namely,autocatalysts, jewellery and investment. Hence, any degree of change in these sectors willeither result in a rapid flooding of the market and a drop in the price, making it uneconomicfor mines to continue to operate or, on the other hand, create a shortage.The purpose of the study is to determine the future changes in the fundamentals, the effectthereof on the price of commodities produced by the platinum mining companies, and theconsequent changes in the South African platinum industry.The study was done mainly through literature research and empirical data. The latter wereused to find correlations between prices, and supply and demand, in order to determine theplice up to the year 2000. These price forecasts were used in calculating the revenue for eachmine at a specific production rate.Final evaluation of the mines was done by applying various techniques to determine the statusof the mines.It is concluded that future entry will be more difficult due to a moderate increase in the priceof PGM. However, after the closure of certain new mines and prospects in South Africa, highcost producers who are able to implement effective cost saving measures to survive therecession periods, will be ensured of a flourishing future.
[发布日期]  [发布机构] University of the Witwatersrand
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