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Northam CEO Paul Dunne: 'Worst crisis I've seen in 30 years'
Northam Platinum's CEO said that platinum mining companies in South Africa, the world's top supplier of the metal, are facing "severe" market conditions and are caught up in the worst crisis in three decades as prices plummet. "I personally believe it's the worst crisis I have seen in three decades, on a relative basis," said Paul Dunne, the CEO of Northam, South Africa's fourth-largest producer of platinum-group metals. "The squeeze on the industry is severe," he told journalists. South Africa's biggest producers of the precious metals are halting spending worth billions of rand on output expansion projects and ... (full story)