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But with the dollar-rand exchange rate now at near 8 rand, mining companies in South Africa would receive around 12, 000 rand an ounce, Tremblay said.
FORBES: Analysts: Too Soon For Platinum Tumble To Hurt Output, But 'Something...To Keep An Eye On'
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With an exchange rate of 6.7 South African rand to the dollar back then, South African producers would have been receiving near 11, 700 rand per ounce, Tremblay said.
FORBES: Analysts: Too Soon For Platinum Tumble To Hurt Output, But 'Something...To Keep An Eye On'
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While platinum prices have fallen in dollar terms over the last few months, fluctuations in the foreign-exchange rate between the U.S. dollar and South African rand have actually meant South African mining companies are effectively receiving a higher payment for their metal, Tremblay said.
FORBES: Analysts: Too Soon For Platinum Tumble To Hurt Output, But 'Something...To Keep An Eye On'