Iconic South African mines ravaged economy’s unlikely savior
Surging demand and prices for commodities including platinum-group metals, iron ore, manganese and coal are generating record mining-company profits and bolstering government revenue.
The FTSE/JSE Africa Platinum Mining Index jumped 4.9% Wednesday, taking its advance this year to 6.5%, as palladium touched an all-time high above $2,100 an ounce.
Metal neared $1,600 an ounce after Iran said it would no longer abide by any limits on its enrichment of uranium following the killing of General Qassem Soleimani.