South Africa and Russia will next year invite platinum-group metals producers and users to join them in devising ways of supporting the prices of the precious metals.
Representatives of the two countries, between them holding about 80% of the world's reserves of the metals, met last week in Pretoria "to collaborate on technology development and explore new applications for the metal" to strengthen demand, the Department of Mineral Resources said yesterday.
They agreed to arrange a conference for the second half of next year, spokesperson Phuti Mabelebele said.
Platinum prices have tumbled more than 20% since March last year.
The world's biggest producers, including Amplats, Implats and Lonmin, met in Johannesburg yesterday to discuss ways of preventing illegal sales of the precious metals.
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