LONDON, Nov 18 (Reuters) - Six of the world's biggestplatinum producers have launched a dedicated body, the WorldPlatinum Investment Council, to promote the precious metal as aninvestment vehicle, the new group said in a statement onTuesday.
Anglo American Platinum, Aquarius Platinum,Impala Platinum, Lonmin, Northam Platinum and Royal Bafokeng Platinum will fund WPIC todevelop an active investment market for platinum, it said.
Between them, the six companies produced nearly 70 percentof world supply of mined platinum last year. A spokesman for theWPIC declined to comment on how much funding the body wouldreceive.
Industry and banking sources said last week that the WPICwas being set up to try to boost sales in the face of fallingprices. Spot platinum has slid 12 percent this year.
Paul Wilson, a former advisory partner at managementconsultants Bain & Company, has been named as the WPIC's chiefexecutive. It will produce data and analysis on the marketresearched by SFA Oxford. (Reporting by Jan Harvey; Editing by Michael Urquhart)