consolidation still coming, page-4

By: Martin Creamer
Published on 9th March 2012
Updated 6th March 2012
PLATINUM WINDOW – “I can tell you that the best time to go into platinum is now.” That is the view of African Rainbow Minerals (ARM) executive chairperson Patrice Motsepe, who tells Mining Weekly that ARM is allocating financial resources for platinum opportunities both in South Africa and Zimbabwe. Some of the biggest mining companies in the world are looking at opportunities in platinum, despite the fact that many of the current impacts on the platinum-mining industry are unacceptable, says ARM. It already has stakes in Anglo American Platinum’s (Amplats’) Modikwa platinum mine on the eastern limb of the Bushveld Complex and may take up more platinum assets as stoppage-hit Amplats goes about reviewing its position in platinum in response to blood-baying London analysts. ARM is sitting pretty on R1.66-billion cash and sees itself as a potential eastern limb platinum consolidator as well as a Zimbabwe platinum investor.