South African Platinum Miners Surge as Metal Prices Pick Up
Lights from miners illuminate a platinum mine shaft outside Rustenburg, South Africa.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
South African platinum miners’ shares surged on Friday as prices of the main metals they produce extend a recent recovery.
Sibanye Stillwater Ltd., Impala Platinum Holdings Ltd., Anglo American Platinum Ltd. and Northam Platinum Ltd. rallied at least 12% in Johannesburg. The moves come as platinum and palladium round out big weekly gains — with palladium hitting the highest since April — and after Sibanye on Thursday said it will likely cut US platinum-group metals production by up to 45%.