You are correct prices cannot stay at these levels. Virtually all deep mines in Sth Africa are operating at massive losses and will be eventually forced to close. Sth Africa accounts for about 80% of world Pt production and the vast majority is in deep mines so supply could shrink dramatically. But PLA can still make a profit at current prices because its open cut/shallow mine operation for both Smokey Hills and Kalplats.
However the sell off for Pt as well as Pd, Ag, Au, Ni, Cu, Zn, U, Al, etc has been incredibly fast and nasty. Nothing like this has been seen before.
PLA Price at posting:
55.4¢ Sentiment: None Disclosure: Held
