South African Platinum Miners Are Progressing Well on Preserving Value Amid Market Slump -- Market Talk

Dow Jones09-11

1233 GMT - South African platinum-metals miners--which have suffered due to weak sales prices and high inflationary costs--could see below-average increases in operating costs giving them more financial flexibility in the next few years, Citi says. This is due to the progress the miners have made by finishing restructuring and pausing expansion projects, the U.S. bank says. Overall, Citi sees clear signs that companies are focusing on preserving value and implementing strategies to improve profit margins, it says. "While we are mostly neutral to bearish on the underlying commodities, we see limited downside for PGM prices given rand basket prices are deep into the cost curve," the analysts write in a research note. (christian.moess@wsj.com)

(END) Dow Jones Newswires

September 11, 2024 08:34 ET (12:34 GMT)

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Overall, Citi sees clear signs that companies are focusing on preserving value and implementing strategies to improve profit margins, it says. \"While we are mostly neutral to bearish on the underlying commodities, we see limited downside for PGM prices given rand basket prices are deep into the cost curve,\" the analysts write in a research note. 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