Barclay's bizarre projections Ok, last year we had a platinum supply drop of 10% so this year Barclays is just projecting a 3% drop? Even though theere are plans to shut down major platinum mines by Anglo and lay off 14,0000 workers to save costs? How can production be surging? Also disruptions continue on all fronts: power, water, technical shortages, work stoppages, violence,etc.! For the last few years they put out these widely rosy and optimistic projections yet they always come in significantly less. Amazing!
Thursday March 14, 2013 3:20 PM
(Kitco News) - The platinum market will be in a supply deficit of 251,000 ounces in 2013 as mine supplies fall to their lowest levels since 2000, said Barclays on Thursday.
Mine supply is seen falling 2.7% this year, which is on top of a 9.9% drop in 2012, the firm said, as industrial disputes, safety-related stoppages, power instability, falling ore grades and technical difficulties are among the problems facing the mine industry.