Amplats sales to support platinum price

[] – PLANS by Anglo American Platinum (Amplats) to sell four shafts in the Rustenburg region would be positive for the price of platinum, said Bloomberg News citing RBC Capital Markets analyst, Des Kilalea.

“It will force everybody to manage their costs better and it will force those with uneconomic resources not to mine them,’ Kilalea told the newswire. “It will be good for the price of platinum,’ he said.

“These guys just cannot carry the expensive assets anymore,’ said Michael Kavanagh, a mining analyst at Noah Capital Markets. “When commodity prices are falling, you need to make a plan.’

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