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Old 03-26-2013, 06:12 PM   #1
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Question Russia and South Africa to form platinum cartel

I don't have the time to do more research, maybe somebody amoung you will

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Russia and South Africa are seeking to create a Platinum Exporters' bloc according to Russian Minister Sergey Donskoy
http://ransquawk.com/headlines/russi...koy-26-03-2013
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Old 03-27-2013, 05:21 AM   #2
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Russia and South Africa, which together control about 80 percent of the world’s reserves of platinum group metals, plan to create a trading bloc similar to OPEC to control the flow of exports.
http://www.bloomberg.com/news/2013-0...inum-bloc.html

Quote :
“We’re not really controlling the market,” she said in an interview in Durban. “We want to contribute without creating a cartel, but we want to influence the markets.”
Quote :
“We are now forming working groups to work out joint actions on this market,” and aim to coordinate export volumes, Donskoy said. “There will be a meeting in the summer to discuss mechanisms in detail.”
I think this is bullish for platinum, 80% of the market. I guess they will be managing supply to make sure the price stays as high as possible a bit like De Beers with diamonds.
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Old 03-27-2013, 07:04 AM   #3
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Really surprised it took them this long to do something like this.
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Old 03-27-2013, 06:15 PM   #4
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swiss, PMBug,

Yes, it will be interesting to see how this all works out. It seems kind of hard to see how Russia and South Africa could make such a cartel work out though.

Pt: the metal for optimists!

And just today I read that there is research in nanotechnology to find cheaper materials to do the catalyst work that platinum and palladium now do.
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