Platinum miner Angloplat has suggested that the diesel market could be about to take off in the US, as oil prices continue to rise.

Speaking in a conference call with analysts, Angloplat's chief executive Ralph Havenstein said he believes there is room for major growth in the US diesel market, as more consumers look to cope with increasingly volatile petrol prices.

An upturn in the purchase of diesel-powered vehicles would be welcome news for Angloplat, given that platinum is used in emission control devices and would therefore result in an increase in demand for the precious metal.

Mr Havenstein suggested that, while high oil prices may cause a slowdown in economic activity in the short-term, it will be good for platinum demand in the long-term as diesel will be one of the "efficiency solutions" to the growing problem of high oil prices.

The comments come following similar sentiments from the Canadian Press, which has reported on the growing confidence among Canadian analysts that diesel is to become the fuel of choice in the future.

Mr Havenstein's belief is reinforced by UK expectations, as figures from the SMMT suggest the British diesel market is also set to soar.


Ÿ Adfero Ltd