Russia and South Africa signed an agreement to coordinate efforts and increase exports of platinum


Russia and South Africa signed an agreement for the creation and coordination of efforts to increase exports and regulation of the platinum. This was reported by Bloomberg.

"Our goal is to coordinate our actions to expand the market. Prices depend on the structure of the market, and we will build this structure," — said the Minister of Natural Resources and Ecology of Russia Sergey Donskoy in Durban.

The officer offered to call the new organization OPEC. Other countries, according to Don, too, could enter into a new cartel. In the summer of 2013 will meet, where will discuss the structure of the new association.  

South Africa and Russia possess 80% of the platinum group metals. In South Africa, with 70% of the world reserves of platinum in Russia — 40% of the reserves of palladium. Among the major manufacturers of the USA, Canada and Zimbabwe.

In the global market of precious metals is dominated by the BRICS countries. In particular, China — the leader in gold production (380 tonnes), Russia produced 215 tons and is located on the 4th place. South Africa is ranked 5 th line with 200 tons. Brazil in 12th place (68 tons).

In addition, the BRICS leaders on the market of base metals. In 2012, it was issued more than 50 million tons of aluminum, of which 31 million tons were in the BRICS countries. The country's economic bloc also produced 7.9 million tons of copper from 21 million tons produced in 2012

Aluminum consumption per capita (kg / year)

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