EastPlats Buys Hebei Zhongbo’s South African Platinum Business

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Eastern Platinum has acquired Hebei Zhongbo Platinum‘s entire South African platinum group metal business.

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The company will also acquire all loan agreements Eastplats has with its subsidiary companies for a total gross consideration of $225 million.

As part of the acquisition, the company is required to buy out the minority interests upon closing.

With a decline of 1.9% to JPY 3,088 ($25.78) per gram on Friday, January 9, Japanese palladium bar recorded the biggest price drift of the day. At $790.00 per ounce, the price of US palladium bar was essentially unchanged. Chinese palladium bar held its value last Friday at CNY 177.00 ($28.48) per gram.

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Japanese platinum bar gained 0.6% to finish at JPY 4,680 ($39.07) per gram. The price of Chinese platinum bar closed at CNY 260.00 ($41.84) per gram. Following a couple days of improvement, the metal’s price weakened by 0.4%. The price of US platinum bar held steady at $1,216 per ounce.

Indian gold bullion ended the day at INR 27,170 ($434.57) per 10 grams, after the 0.6% drop last Friday. Japanese gold bullion saw its price rise 0.4% to JPY 4,652 ($38.83) per gram. US gold bullion closed 0.2% lower at $1,209 per ounce. The price of Chinese gold bullion showed little movement last Friday at CNY 242.80 ($39.07) per gram.

At INR 37,490 ($599.64) per kilogram, Indian silver fell 1.5% last Friday. US silver prices saw a 0.9% decline to $16.38 per ounce. The price of Chinese silver changed direction with a 0.3% drop. After two days of improving prices, the metal finished at CNY 3,495 ($562.45) per kilogram. Japanese silver finished the day up 0.2% to JPY 631.00 ($5.27) per 10 grams.

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