The Sibanye-Stillwater acquisition of struggling miner Lonmin may have also been perceived as supportive of the South African economy but doesn’t do much to correct a beleaguered platinum price. Lonmin had platinum sales of 706,000 ounces in fiscal 2017. The R5 billion all-share offer which was announced in December is expected to be completed in late-2018, making Sibanye the world’s third-largest platinum producer with group annual production of some 1.5 million ounces. Sibanye had previously purchased certain Rustenburg properties from Anglo, the mining operations of Aquarius Platinum and US palladium-producer Stillwater Mining.Reading Time: 1 minute
Also in this week’s Platinum Market Review:
-Palladium prices set a new 17-year high at $1,080 an ounce in the New Year... -Platinum prices increased more than 6% -Rhodium prices soared to a fresh six-year high
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