Platinum Drops From Seven-Week High as South African Supply Concerns Fade;

(Bloomberg) -- Platinum fell from a seven-week high
in New York as supply concerns diminished in South Africa, which
produces about 80 percent of the metal. Palladium was little
changed.

Most platinum companies in South Africa started biennial
salary negotiations last month. The National Union of
Mineworkers yesterday said it would respond today to an offer by
Impala Platinum Holdings Ltd., the world's second-biggest
producer. Anglo Platinum Ltd. increased a pay offer to try to
avert a strike last month.


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Platinum Rises as Potential Strikes May Disrupt Supplies; Palladium Gains

(Bloomberg) -- Platinum rose in New York on concern
potential strikes in South Africa, a source of almost 80 percent
of the metal, may disrupt supplies. Palladium also gained.

Last week, the price of platinum had the biggest weekly gain
in two months as unions threatened to walk off the job over wage
disputes. Anglo Platinum Ltd. raised a pay offer last month to
try to avert a strike and employees at Impala Platinum Holdings
Ltd. turned down a proposed wage increase on June 27. The two
companies are the world's biggest platinum producers.


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Impala Platinum to Help Mineworkers Purchase About 3 Percent of Stock

(Bloomberg) -- Impala Platinum Holdings Ltd., the
world's second-biggest platinum producer, will help most workers
at its South African mines together buy about 3 percent of its
stock, valued at about 4.26 billion rand ($587 million).

The company, based in Johannesburg, has made ``capital
contributions of an amount sufficient to finance the
acquisition,'' it said today in an e-mailed statement. The deal
is part of Impala's ``empowerment and transformation
initiative.''


Read more at Bloomberg Emerging Markets News