Anglo Platinum Sees Price Recovery Around the Corner -- Market Talk

Dow Jones02-06

1226 ET - The platinum industry is at a low in terms of prices, but recovery is around the corner, Duncan Wanblad, chief executive of mining giant Anglo American, said on the sidelines of a mining industry conference in Cape Town, South Africa. "I really do believe this is a cycle and we're at the bottom of it," he said. Although he doesn't expect any full-scale mine closures at majority-owned unit Anglo American Platinum, the world's biggest producer of the metal, all of the Anglo Platinum mines will need some restructuring due to the current low prices, he said. (alexandra.wexler@wsj.com)

(END) Dow Jones Newswires

February 05, 2024 12:26 ET (17:26 GMT)

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Although he doesn't expect any full-scale mine closures at majority-owned unit Anglo American Platinum, the world's biggest producer of the metal, all of the Anglo Platinum mines will need some restructuring due to the current low prices, he said. 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