1.During the previous year the general investment climate in Southern Africa never really lived up to  expectations. Stocks of course had o...

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Retired but always looking for new challenges.

Thursday, December 1, 2016

The year that was !

This has been a year  in which there have been more financial  and political shocks worldwide than normal.Growing  populations have become more restive and even rebellious as the recession lingered on. At year end America is well on the way to recovery and the first sprigs of recovery are seen in Europe and Asia. As always Africa is lagging. 
How ever a pleasing change has been seen on the African Continent as populations strive for more accountability and less graft  top of government officials. This is playing itself out especially here in  South Africa as we strive to avoid  downgrades in our borrowing to junk status. As many other major countries have failed this test of morality we have for a second time avoided this fate.
It must be remembered that we produce 80% of the world platinum group metals and also a full range of base metals and minerals.
How ever at the present price of platinum, around $900 per ounce it is being produced at a loss. There is already a shortage of 20% in  ounces, per annum, built up and as fuel cells and other catalytic converters are needed for cleaner air become the vogue. In the last ten years the price has suddenly spurted by a couple of hundred USA dollars per ounce! this exciting event can happen again. Do remember it takes five years to ramp up and open mothballed areas in existing mines and a great deal longer in new developments!
I wish all our readers,Google and our advertisers all the best for 2017.