ABOUT PLATINUM

The move will also help in development of these areas, some parts of which are very backward. The discovery in the Mettupalayam region suggests there could be prospects of some platinum reserves in Kerala too. One portion in Mettupalayam side may go to Kerala and there may be a possibility (of some finds there) but that exploration has not yet been done.
The Geological Survey of India and Tamil Nadu Minerals are jointly exploring commercial viability of mining the platinum group of minerals present in Mettupalayalam and Namakkal area.

ABOUT PLATINUM
Platinum first sold at about $350 per troy oz in 1992 and stayed rather flat save for a small dip to about $325 per troy oz in the mid 1990s and a equally small rise to about $375 per troy ounce in the Millennium period . It started to gain value in mid 2002 and grew on a experiential curve model as the prices then began to sky-rocket upwards

 The high point was when it was trading for $2,200 per troy oz in early 2007. Prices crashed back down to reality with a mere $800 per troy oz in January 2008, but the price had recovered back to a reasonable $1,600 per troy oz by early 2010.

FACTS
Operating profit $418m Safety continues to improve: LTIFR down 16% Balance sheet strengthened through successful R12.5bn Rights Issue Operating cash unit costs down 2% vs. H2 2009 despite significant input cost inflation and lower grades Operational efficiency improvements and optimisation of overhead structure are maintaining unit costs Significant improvement +11% in productivity from 6.26m2 in H1 2009 to 6.92m2 per operating employee; targeting 7.30m2 in 2011