Platinum Loses Shine Amid BHP's Vast Anglo Bid

The switch to electric vehicles means platinum -- used in the manufacture of catalytic converters for high-polluting petrol engines -- faces a dim long-term future (Credit: AFP)

Platinum prices are rising due to tight supplies although the metal has fallen out of favour as miner Anglo American seeks to offload assets and fight a vast takeover bid from Australian rival BHP.

The metal is used in the manufacture of catalytic converters for high-polluting petrol engines -- but demand has long been forecast to slump as more drivers switch to greener electric cars.