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Global platinum supply amounted to 6.48-million ounces in 2011 and total gross platinum demand 8.1-million ounces. South Africa, the world’s largest platinum miner, supplied 4.86-million ounces of the total, belying the fact that actual mined production in the country decreased in 2011, as the overall supply increase was entirely the result of a release of metal from inventories.
The decline in the country’s mined platinum production was estimated at about 120 000 oz. Johnson Matthey contends that it was largely a result of safety stoppages, imposed by government in terms of Section 54 of the Mine Health and Safety Act. The sector is also struggling under the weight of skills shortages, transformation and equity-ownership challenges, rising community expectations and a resurgence of resource nationalism across Africa. Nonetheless, Johnson Matthey expects that the overall balance of the platinum market in 2012 will be similar to that of 2011.
This report includes details of South Africa's platinum business environment, main participants in the sector, as well as other platinum miners and explorers.
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