Buy Impala Platinum (IMPUY)
12/30/2008 10:13 pm EST
Early 2008 wasn't an easy period for South African mining companies. Power
shortages shut the country's deep mines. News that China passed South Africa to
become the largest gold producer in the world strengthened the impression that
the industry's best days were behind it in South Africa. But in the case of
platinum specifically and the platinum metal group of platinum, rhodium, and
palladium in particular, nothing could be further from the truth. South Africa
was the source of 50% of newly mined metal in the platinum metal group in
2007 Deutsche Bank projects that figure will climb to 55% in 2008. Impala
Platinum, the second largest of South Africa's three major platinum producers,
was the only one to increase its output in 2007.
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