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What do difficulties in South Africa mean to platinum prices?
*Financial Times, by Chris Flood, February 4, 2008
“Platinum prices continued their record breaking run on Monday while gold slipped below the $900 level and oil prices eased back following Opec’s decision last week to keep its production quotas unchanged.
Platinum hit a record $1,789 a troy ounce before easing back to trade around $1,780, up 1.6 per cent since Friday, amid ongoing concerns about supply interruptions in South Africa where an energy supply crisis has caused widespread disruption to mining operations.
South Africa supplies around 80 per cent of global platinum output but mining companies have been unable to operate at full capacity over the past week due to a lack of consistent power supplies.”
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