High-Flying Platinum Stocks Set to Extend Johannesburg Gains
Bloomberg 4 days ago Adelaide Changole
(Bloomberg) The blistering pace of gains that has pushed South African platinum stocks to the highest in more than 12 years looks likely to be sustained as an upswing in demand and supply constraints fuel the rally.
Johannesburg’s index of platinum stocks has soared 30% this year, leaving the other sectors in the local equities benchmark trailing in their wake. Over 12 months, the FTSE/JSE Africa Platinum Mining Index is up an eye-watering 230% as of Tuesday’s close, thanks to surging prices for palladium and rhodium, dug up with platinum and used in vehicle pollution-control devices.
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Zimbabwe’s mining policies irk investors Anglo American Platinum lashes out at new tax regime announced by the Zimbabwean Reserve Bank in January BL PREMIUM 28 February 2021 - 17:38 Kevin Samaita
Harare Top mining investors in Zimbabwe, including JSE-listed Anglo American Platinum (Amplats), have raised the red flag over Zimbabwe’s new punitive tax regime, after the Reserve Bank of Zimbabwe hiked exporters’ retention thresholds to 40% from 30%.
The new tax regime introduced in early January compels miners to surrender more foreign exchange earned from mineral exports.
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The South African miner reports £1.47 billion of basic earnings.
Anglo American Platinum declares £2.21 of ordinary dividend.
Anglo American Platinum Ltd. (JSE: AMS) said on Monday that its basic earnings jumped 64% in 2020. The company also expressed confidence that production will recover to levels seen before the Coronavirus pandemic later this year.
Anglo American Platinum opened at £85.70 per share on Monday and closed the regular session at a per-share price of £86.09. In comparison, the stock had plummeted to as low as £21.39 per share in March 2020. If you want to invest in the stock market online, you will need a reliable stockbroker – here is a comparison of the top few to make selection easier for you.