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Sibanye shares rose 4.9% in Johannesburg, bringing this yearâs gain to 13%.
By Felix Njini, Bloomberg
15 Feb 2021 12:53
Image: Bloomberg
Sibanye Stillwater may spend R3.9 billion ($270 million) on extending the life of the Marikana operations it acquired with the purchase of Lonmin Plc two years ago, after platinum-group metals rallied.
Chief Executive Officer Neal Froneman said last month that Sibanye plans further investments to boost PGMs output from South Africa. The CEO of the worldâs No. 1 platinum miner said the metal could climb by more than 80% over the next four to five years as the global economy recovers and supply dwindles.
Monday, 2/15/2021 14:43
PLATINUM PRICES soared to new 6-year highs Monday as industrial commodities rose and global shares hit new peaks on optimism about the rollout of Covid-19 vaccines, plus new fiscal aid from Washington,
writes Atsuko Whitehouse at BullionVault. Oil prices soared to 13-month highs above $60 per barrel after the Saudi-led coalition fighting in Yemen said it destroyed a military drone fired by the Iranian-backed Houthi rebels.
Prices for silver – which finds nearly 60% of its annual demand from industrial uses – rose 1.1% to $27.65 per ounce after gaining 1.5% last week. Finding two-thirds of its annual demand from industrial uses led by auto-catalysts, platinum climbed 4.1% by Monday lunchtime, breaching $1300 per ounce for the first time since October 2014.
Precious Metals Market - Industry Analysis and Forecast (2017-2023) by Form, by End-Use, by Application and by Region. texasguardian.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from texasguardian.com Daily Mail and Mail on Sunday newspapers.