Russia, South Africa Seek to Support Platinum Price in Talks
By GCRU Gold News on Wednesday, October 8 2014, 00:45 - Permalink
Russia and South Africa, together holding about 80 percent of the earth’s platinum-group metal reserves, will meet to discuss ways to buoy slumping prices.
Norilsk has also suggested buying stockpiles and including those reserves in agreements between the five BRICS nations, Brazil, Russia, India, China and South Africa, Donskoi said. Technological exchange may also be part of the pact, he said.
Norilsk and a group of banks and private investors are raising funds to buy palladium stockpiles from Russia’s central bank, the company said Sept. 24.