HONG KONG Nov 12 Impala Platinum Holdings
Limited, the world's No.2 platinum producer, expects
the market for the precious metal with industrial uses to be in
deficit for 2012 and the next few years, a company official said
Speaking at a conference in Hong Kong, Derek Engelbrecht,
Impala group executive for marketing, also said he expected
lower output and job cuts as a result of rising costs and a drop
in platinum productivity.
The South African government was unlikely to take any
measures to ease months-long labour tension before a key
conference of the African National Congress set to take place
next month, he added.
Labour strife in South Africa's mining sector has supported
platinum prices, at a time when uncertainty in the outlook for
the global economy is weighing on demand for the metal mainly
used in jewellery and autocatalyst production.
(Reporting by Rujun shen; Writing by Anne Marie Roantree;
Editing by Clarence Fernandez)