Orano warns of financial problems at Niger uranium plant
The West African nation increasingly seeks new partners, such as Russia, in its mining sector.
FT reports in 2010 the market loved palladium. It was the best-performing precious metal. But, as Barclays Capital points out in a note, 2011 has seen palladium fall off its pedestal. At about $600 an ounce it has shed 25% since the start of the year.
Industrial demand – the primary factor determining prices – for platinum and palladium took a severe knock from the Japanese earthquake and tsunami disaster in March but supply disruptions and falling grades in South Africa, the world’s number one miner of the two metals, and ongoing political turmoil in Zimbabwe, the country with the second largest deposits, could provide a floor for the price. Back in June, Barclays already warned that investment demand for both has also declined noticeably, contributing to the recent price correction.
