JOHANNESBURG (miningweekly.com) – The South African platinum industry has been investing in platinum jewellery for more than 45 years through the Platinum Guild International (PGI), which has turned platinum jewellery into an amazing South African asset.
Of all the platinum demand levers, platinum in jewellery is the one that can be activated the quickest and the most directly, which is important in light of the need of the struggling platinum industry to continue to create demand for platinum, so that upward pressure is applied on the currently low metal prices being achieved by PGI’s funders – Anglo American Platinum, Impala, Lonmin, Northam, Sibanye and Royal Bafokeng Platinum.
Jewellery, the second biggest platinum demand source, is expected to generate 1 700 000 oz of net platinum demand in 2017. Even in difficult markets, platinum demand continues to grow where marketing is focused on bridal, gemset and branded collections.
With more marketing, significant incremental ounces would be demanded of the mining industry, which would add tension to the price and benefit the millions of South African people dependent on a successful platinum business.
Since 2001, investment of $800-million in jewellery demand has created 35.5-million jewellery ounces, worth $7.3-billion, but, given the huge opportunities, far more demand could be generated with greater investment.
For the rest of this article: http://www.miningweekly.com/article/huge-opportunity-to-create-more-demand-for-platinum-pgi-2017-08-23