Page 26 - Mining Weekly News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The automotive market will remain the biggest demand segment for platinum for the foreseeable future, comprising between 31% and 46% of total demand, as it has for the last five years, reports the World Platinum Investment Council (WPIC). The industrial segment comprises between 26% and 36% of total platinum demand, while the jewellery segment makes up between 23% and 30% of platinum demand. The balance of demand is driven by investment, in platinum exchange traded funds for example, and remains the segment with the most variable demand.

Latest news on protests in Peru, officially the Republic of Peru, a country in western South America and the third largest in that continent.

JPMorgan in a research note on Friday said it now forecast a 0.2% decline in South Africa's 2023 gross domestic product (GDP) versus a previous forecast for 0.3% growth, citing expectations for deeper power cuts. The bank added that prolonged power cuts above the current record level referred to as "Stage 6" would worsen its current account projection beyond an already pessimistic 3% forecast for this year.

Gold mining company AngloGold Ashanti is targeting September as the month in which it will invert its stock exchange listings. Its primary listing on the Johannesburg Stock Exchange will become a secondary listing, its American Depository Receipt (ADR) listing in New York will be uplifted to become a fully fledged primary listing, and the company's domicile will be UK to keep tax constant for South African shareholders, who hold 40% of the stock.

State-owned Transnet Freight Rail (TFR) is operating its North Corridor on reduced load, after a train, enroute to Richards Bay, derailed on Thursday. TFR said in a statement on Friday that 49 loaded wagons on Train 6605 had derailed on Line 1 at the Mqwabe bypass, between Dumbe and Vryheid, in KwaZulu-Natal. Trains continue to run on Line 2.