|Bid||6,150.00 x 0|
|Ask||6,342.00 x 0|
|Day's Range||6,125.00 - 6,298.00|
|52 Week Range||18.11 - 6,935.00|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 27, 2019 - Mar 4, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||39.57|
Platinum prices are languishing near the lowest in a decade, but the biggest miners are barely cutting production. Although about half of South African output is estimated to be unprofitable, few companies are reducing production by a meaningful amount, with top supplier Anglo American Platinum Ltd. even ramping up. Any additional output in South Africa, which accounts for about 70 percent of global supply, would further weigh on a market that’s seen demand ebb in recent years.
A hardscrabble patch of South Africa disputed between black farmers and tribal leaders working with platinum mining interests is legal ground zero in a battle to loosen the chiefs' grip on communal lands. Land rights are a hot-button issue ahead of elections in 2019 as the African National Congress (ANC) moves forward with a constitutional amendment aimed at a more equitable distribution of land, including possibly expropriating land from whites without compensation.
South Africa's rand steadied on Thursday after sliding to a new seven-month low against the dollar on Thursday, with investors betting recent volatility could provide some short-term profit opportunities. ...
Technologies used to carve subways and clear landmines are being retooled to mechanise South Africa's platinum mines, where an unforgiving geology has stymied such efforts at a huge cost. The technologies may make new mines profitable and could provide a lifeline for some loss-making shafts in a sector battered by low prices and social unrest, but there are limits. The stakes are high in the world's top producer of the metal: most of South Africa's platinum shafts are losing money, while the handful of mechanised ones are profitable.