Tuesday, April 17, 2007

Angloplat opposes Swiss plan for platinum ETF

(Reuters) - The world's biggest platinum producer Angloplat will not supply physical metal to a planned exchange-traded fund based on platinum because it would sharpen supply shortages, the firm said on Tuesday.

"The reason why we as a producer are opposed to it is that it takes metal away from physical consumption and therefore would push the price up," said Trevor Raymond, senior manager of investor relations at South Africa's Anglo Platinum.


Read more at Reuters Africa

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