Russia/South Africa: ‘Long shot’ partnership to influence platinum market, avoid cartel
A proposed partnership deemed “ambitious” by two leaders of the world’s platinum market is reportedly underway, a move the parties say will not create a cartel but will help them to influence the global market. Russia and South Africa, who hold a combined 80 percent market share, are planning on developing a new body to coordinate the exportation of platinum. The plan is said to emulate the Organization of the Petroleum Exporting Countries between various nations including Brazil and India. Now, Russia and South Africa are planning to make a similar partnership to coordinate platinum exports to have a heavy influence on the market. “The price [of platinum] depends on the structure of the market, and we will form the structure of the market” said Russia’s Natural Resources Minister Sergey Donskoy. Mineral Resources Minister Susan Shabangu assured, however, that the intent is not to form a cartel. The two have signed only a framework of their plan as of now, said Donskoy.
Full Content: BDLive
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI