Russia Poised to Dominate Global Platinum Market?
In the world of the future real tangible assets will likely be more important than paper IOY’s, certainly during the years after the coming ‘Big Reset‘ or the ‘Mother of all Defaults’ [*]. Russia is making big moves into African mining:
Russian Deputy Minister of Industry and Trade Georgy Kalamanov said live from Harare that a new $3 billion platinum complex is going “according to schedule.” With the Deputy Minister noting that Phase I of the project–which includes mines and processing facilities–is just “a first step” for Russia.
RT chimes in by reporting:
According to the US Geological Survey, Russia produced 25,000 kilograms of platinum in 2014. Zimbabwe produced 11,000 kilos last year, outpacing the combined production of the US and Canada. The global leader is South Africa with 110,000 kg.
Russia controls about 30 percent of global platinum and palladium output, according to OilPrice.
In a world where words still have meaning this means that South-Africa will continue to be the global leader in platinum production, with Russia a good 2nd with 25% of the world’s output.
You can safely leave it to the Boer Republic (“Boer” is Dutch for farmer) and descendants of the Dutch to know where to find and exploit precious metals. 😉
[*] – the expression ‘Mother of …’ is the main legacy, the fine Iraqi dictator Saddam of former fame, left to the world. He may be dead, but he probably drew US power with him into the grave. It is a bit like with Hitler and Britain: