New York – The Platinum Guild International (PGI) USA has announced a change in its funding structure.
Anglo American Platinum, a subsidiary of mining giant and majority owner of De Beers Group Anglo American, is now the sole sponsor of PGI USA.
Founded in 1992, PGI USA has received funding from a group of South African platinum producers through the Platinum Jewellery Development Association (PJDA) since 2005.
The new funding structure will also apply to PGI Japan.PGI India has been funded exclusively by Anglo American Platinum since 2016.PGI China, however, will continue to be supported by the PJDA.
“We are excited about this next chapter in the history of our organisation,” said Jenny Luker, President of PGI USA.
“We look forward to working more closely with our colleagues at Anglo American Platinum to continue to build awareness and consumer demand for platinum in the marketplace. Strengthening this relationship will allow us to support the availability of metal supply to the U.S. market, explore groundbreaking technological advances and continue to support our partners and the industry at large with one of the world’s most precious metals.”
Benny Oeyen, Anglo American’s Executive Head of Market Development for Platinum Group Metals, said: “We firmly believe in the continued potential of jewellery as an opportunity area for our precious metals, and our new funding commitment to PGI’s longstanding work in promoting platinum jewellery demand underlines this.
He added that the company’s work with PGI will help to develop greater awareness and appreciation of platinum in fine jewellery and provide Anglo American Platinum with access to industry knowledge and expertise.
Huw Daniel, CEO of the Platinum Guild International, described the change as a “momentous next step” that underlines Anglo American Platinum’s “unwavering belief” in the US jewellery market.
“They have long been our most important sponsor in several global markets and the formalisation of this new relationship will allow our US team to take the positioning and use of platinum to an unprecedented level,” Daniel said.
At the upcoming Couture Show in Las Vegas, PGI will showcase platinum jewellery designs from 16 designers as part of its Platinum Spotlight programme, now in its second year.
