Platinum Producers Continue to Favor Payouts Over Capex
Despite the recent surge in the price of platinum on commodity markets, major miners are still wary of investing in new projects until the current price increases display signs of staying power. At the moment, platinum is going for just over $2,000 an ounce, having recorded tremendous gains over recent months. Last year, the metal surged 127% to reach new peaks. During a mining conference that was recently held in South Africa, executives expressed a desire to remain cautious at this time as platinum continues to surge. They were of the view that rising costs and previous missteps have taught…
