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The price depends on the structure of the market, and we will form the structure of the market.. Platinum and palladium prices rose following his comments. South Africa and Russia had signed only a framework accord, he said, with details yet to be decided.onde Maoto. SA and Russia plan âplatinum Opecâ in move to corner the global market. AN AMBITIOUS plan by South Africa and Russia to set up an Opec-style body to co-ordinate platinum exports has been described as a long shot that could harm the industry in the longer term.
Some 95 percent of the worldâs platinum comes from South Africa and Russia where it's roasted at extremely high temperatures during extraction and refinement. The heat turns the sulfur in the ore into sulfur dioxide and releases osmium. Neither country has environmental regulations for the process.