Analysts are predicting a supply surplus will soon become a deficit...
THE LARGEST
new source for platinum group metals just might be what Jack Lifton
calls "the rubber tire mine." Noting that removing the catalytic
converter from a car's emission system produces a rate of return that
rivals the production rates of the South African platinum giants, Byron
King agrees that recycling is the wave of the future for platinum,
palladium and rhodium. In this interview with The Metals Report, Lifton and King look at a very 21st century resource extraction story...
The Metals Report: Jack, what is behind the predictions that the platinum supply surplus will become a 400,000-ounce (400-Koz) deficit?
Jack Lifton: The
world's largest platinum and rhodium producer, has taken 400,000 Koz of
platinum out of its 2013 schedule for its South African mines. While
people might not think 400 Koz is very much, you have to keep in mind
that in 2012, the total production of all of the platinum group metals
(PGMs) was less than 700 tons. One ton of precious metal has 30,000 or
31,000 troy ounces of material, troy ounces being the traditional
measurement in precious metals. That 400-Koz reduction equals 10–13 tons
and represents as much as 2% of world production. (more)
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