Standard Bank London released its Platinum Yearbook 2001 this week. By 2008, Standard Bank believes South African output will increase by approximately 2.5 million ounces. Expectations of a continuation of high prices have helped spur these expansion plans. Investment demand in the gold market, however, remains weak. Lucent technologies announced this week plans to sell its fiber-optics division.
Platinum is used in the manufacturing of fiber-optic cable.
In Platinum attributed to Barry Davison the view that platinum prices would overtake palladium prices in the medium term. The correct reading of the coverage from the recent South African Mining Indaba is that Mr. Davison believes platinum usage in the autocatalyst sector will usurp palladium in the medium term. The press report used as a source did not specify Mr. Davison s view as to what the implication of this would be for prices.