PHLX Gold/Silver Sector (XAU)

[long-gone]

To:John Barendrecht who wrote (153)
From: John Barendrecht Wednesday, Jun 25, 1997 10:54 AM
Respond to of 79915

Amplats sees Russian platinum supply down
JOHANNESBURG, June 25 (Reuter) - Anglo American Platinum Corp Ltd said on Wednesday it saw Russian supplies of platinum dropping by 42.6 percent in 1997, to 700,000 ounces from 1.22 million ounces last year.

Amplats managing director Barry Davison told a presentation that the company expected to take up the supply gap caused by decreasing Russian sales.

``(It is a) very significant drop we expect in Russian sales,'' he said.

Davison said South African producers of the metal were forecast to supply about 9.5 percent more platinum in 1997, as 3.64 million ounces, but this might not be reached.

``I do not think the South African producers will produce the 3,645,000 ounces we have forecast,'' he added.