PLATINUM.

In Canada, the platinum group metals are recovered as a byproduct of the nickel-copper ores mined in the Sudbury and Shebandowan districts of Ontario and the Thompson, Wabowden and Bird River areas of Manitoba. The platinum metals market in 1975 was characterized by a year-long decline in metal prices. The two largest South African producers initiated 25 per cent reductions in production in order to better align supply and demand. The U. S. S. R. also attempted to support prices by reducing shipments. It does not appear that there will be any market resurgence of platinum metals demand in 1976 and the oversupply situation will continue. In the medium and long-term, production from existing sources, particularly the Merensky Reef in the Republic of South Africa, should be more than adequate to meet demand.