Platinum Miner Lonmin Wants Some Glencore-Xstrata 'Xpertise'

by MetalMiner IndX Reports on September 9, 2013

Style:    Category: Metal Prices, MetalMiner IndX, Precious Metals

Lonmin, the South African platinum miner already nearly 25-percent-owned by Glencore, added a couple commodity execs to its board.

“Lonmin said Gary Nagle, CEO of Glencore Xstrata’s alloys division and member of its global management committee, had joined the board as a non-executive director with immediate effect, along with Paul Smith, head of strategy and communications for Glencore Xstrata,” according to Mineweb.

As far as daily prices go, MetalMiner’s index shows Chinese platinum bar closed 1.3 percent lower on the day. The price of US platinum bar declined 0.5 percent. The price of Japanese platinum bar held steady.

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US palladium bar finished the day down 1.6 percent. The price of Chinese palladium bar fell 0.6 percent. After a couple of days of decreasing prices, the price of Japanese palladium bar held steady.

The price of Indian silver closed as the biggest mover for Friday, September 6. Switching from a downward trend, the metal closed following a 5.8 percent increase. Chinese silver prices saw a 1.9 percent decline. The price of US silver declined 1.1 percent. Following two days of downward movement, the price of Japanese silver held steady.

US gold bullion prices saw a 1.7 percent decline. Following a two-day drop, the price of Indian gold bullion increased by 1.4 percent. Chinese gold bullion ended the day after a 1.2 percent drop last Friday. The price of Japanese gold bullion was essentially unchanged.

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