[miningmx.com] – PROPOSALS for South Africa to establish a platinum cartel have been dismissed by industry experts with one saying that it would critically affect the country’s employment levels.
In an article by BDLive, Peter Major, a mining analyst for Cadiz Corporate Solution, said: “Great idea, but it should have been done a long time ago. Such an arrangement would break every rule in the World Trade Organisation book.”
A platinum executive told the publication that apart from regulatory issues, the proposal was unworkable owing to the effect on employees in the sector.
“Opec can control oil output by simply turning on and off the wells. Cutting back production means closing down shafts and/or mines which means putting a lot of people out of work,” he said.
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