Platinum rises after Amplats move

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IOL BR mining PIC001 REUTERS File image: Reuters

Spot platinum rose as much as 1.6 percent to a three-month high of $1,680.5 an ounce on Tuesday after the world's top platinum producer Anglo American Platinum announced plans to close four shafts and sell its Union mine.

The metal, used to mainly produce jewellery and catalyst converters for diesel-powered vehicles, regained a premium over gold for the first time since March 2012. - Reuters

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