Platinum-group metals (PGMs) include platinum, palladium, rhodium, and other metals prized for their durability, resistance to corrosion, and excellent catalytic properties. The automotive industry is the largest consumer of these metals, using them primarily in catalytic converters for vehicle exhaust systems. With a rebound and continued growth in auto production projected, particularly in developing markets,...
READ MOREThe price of palladium on the world market has surged to $1,170 per troy ounce for the first time in ten months, driven by concerns over potential new sanctions on Russian exports. On October 24, the price jumped by more than 10% in a single day, outpacing other precious metals and reflecting market fears about...
READ MOREThe United States has reportedly urged Group of Seven (G-7) allies to consider imposing sanctions on Russian palladium and titanium as the Biden administration explores new strategies to pressure President Vladimir Putin’s war effort in Ukraine. A person familiar with the matter revealed that Biden administration officials floated the possibility during a meeting of G-7...
READ MOREThe Moscow Exchange will begin trading in platinum (PLT/RUB) and palladium (PLD/RUB) with payment in rubles starting October 21, 2024. These new trading instruments will be available to both professional market participants and private investors, according to a statement released by the exchange. These instruments were initially added to the system in a state of...
READ MOREPlatinum group metals (PGMs), including platinum and palladium, are experiencing a renewed surge in demand, driven by the rising sales of hybrid vehicles. The shift in the automotive industry toward plug-in hybrids, as opposed to pure electric vehicles (EVs), is reversing the decline in PGM usage seen over the past few years. PGMs, which are...
READ MOREGold prices increased on Thursday, driven by expectations of a U.S. Federal Reserve interest rate cut next week. Meanwhile, supply concerns from Russia, the world’s largest palladium producer, pushed palladium above the key $1,000 per ounce level. Spot gold was up 0.1% at $2,513.78 per ounce by 1107 GMT, supported by the 21-day moving average...
READ MOREGold prices surged more than 1% on Thursday, reaching a record high as expectations for an interest rate cut by the U.S. Federal Reserve next week strengthened following data suggesting a slowing U.S. economy. Spot gold climbed 1.6% to $2,552.63 per ounce by 11:40 a.m. ET (1540 GMT), while U.S. gold futures rose 1.5% to...
READ MOREGold prices climbed on Thursday, supported by expectations of a US Federal Reserve rate cut next week, while palladium reached its highest level in over two months due to potential supply disruptions from Russia. Spot gold rose by 0.3%, trading at $2,517.88 per ounce at 0942 GMT, bolstered by support from the 21-day moving average...
READ MOREAt the “BRICS Climate Agenda in Modern Conditions” forum held in Moscow, Nornickel proposed a collaborative approach with BRICS nations to further develop the palladium sector, focusing on green technologies. The forum, which addressed global climate change and strategies to mitigate its effects, saw the participation of Nornickel’s Palladium Center, which emphasized the strategic role...
READ MORENornickel, the world’s largest producer of palladium and high-grade nickel, is expanding its focus beyond traditional markets into innovative technologies. Vitaly Busko, the company’s Vice President for Innovations, discussed in an interview with TASS how Nornickel is leveraging 3D printing, artificial intelligence (AI), and new applications for palladium, particularly in hydrogen-powered vehicles and water disinfection....
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Sibanye-Stillwater is set to report a significant drop in its interim earnings for the first half of 2024, with profits expected to plummet by nearly 100%. The company’s gold production decreased by 21%, while prices for platinum group metals (PGMs), particularly palladium, remained under pressure. Additionally, the company has recorded a R7.4 billion (USD 420...
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Sibanye Stillwater, a South African mining company, announced that it expects to report a loss for the first half of 2024, driven by a 7.5 billion rand (USD 420 million) writedown on its U.S. assets. The company attributed this to falling palladium prices, which have impacted the profitability of its operations in the United States....
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Nornickel has released its financial results for the first half of 2024, showing a significant decline in revenue and profits. According to the report, the company’s revenue dropped by 22% to $5.6 billion, while net income fell by 23% to $829 million. Free cash flow also saw a sharp decrease of 61%, totaling $525 million,...
READ MOREResearchers from Tula have made a significant breakthrough in catalysis by developing a new environmentally friendly catalyst using palladium, a precious metal more commonly associated with jewelry. This advancement has the potential to revolutionize chemical reactions by enhancing efficiency while minimizing environmental impact. The team of eight scientists started working on the project in 2022...
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Scientists from the Institute of Physics at Kazan Federal University, in collaboration with colleagues from the Moscow Institute of Physics and Technology (MIPT), have successfully grown thin films of a palladium-iron alloy with a controlled distribution of magnetic impurities using molecular beam epitaxy, as reported by the Russian Ministry of Education and Science. The research...
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Nornickel has announced its production results for the first half of the year and the second quarter of 2024. According to its statements, the company’s nickel smelting remained almost unchanged at 90,000 tons for January-June 2024. Copper output increased by 7% to 219,000 tons. Palladium output was stable at approximately 1.5 million troy ounces, while...
READ MOREPalladium, a vital metal for modern industries, has seen a significant price drop from its all-time high. In March 2022, spot palladium peaked near CAD $3400 per ounce but currently trades at $1343 per ounce (Kitco). Despite this decline, palladium demand remains strong, driven by stringent environmental standards and emerging technologies. This article explores the...
READ MORERussian metals giant Nornickel is planning a joint project to construct a platinum group metals (PGMs) refinery in Bahrain, according to a source familiar with the matter who spoke to Reuters on Thursday. Nornickel is the world’s largest producer of palladium and a major producer of platinum, accounting for 41% and 12% of global mine...
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Modern electronics, from mobile phones to electric cars, rely heavily on a steady supply of precious metals, traditionally mined from the Earth. However, some companies are exploring the possibility of mining these metals in space, which might prove to be more cost-effective and environmentally friendly. AstroForge, led by founder and CEO Matt Gialich, aims to...
READ MOREExpansion of US Magnesium in the Lithium Market New Lithium Extraction Facility US startup International Battery Metals has formed a collaboration with US Magnesium to construct and operate a plant dedicated to the direct extraction of lithium from waste byproducts produced during the purification of magnesium salts into pure magnesium. The plant will be built...
READ MOREThe development of hydrogen production offers great prospects worldwide, and India could become a major centre of production: according to current forecasts, it will produce 5 million tonnes by 2030 and 25 million tonnes by 2050. Hydrogen in India will be in demand in three key sectors: iron and steel, chemicals and transport. But Indian...
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Umicore has launched Nexyclus, a comprehensive service offering fully-recycled precious metals, including platinum-group metals (PGM), with three distinct types of certifications. This initiative is presented as the broadest global offering of recycled precious metals, aimed at addressing resource scarcity and the growing demand for responsibly sourced, low-carbon footprint materials. Nexyclus will provide 100% high-quality recycled...
READ MOREThe global demand for raw materials essential for the energy transition and climate change initiatives has surged, yet the extraction rates are declining due to the unprofitability of new mining projects. This dynamic is creating a significant investment opportunity in commodities as prices have notably increased across the board. In a remarkable two-month span, the...
READ MOREThe palladium market continues to challenge expectations, with prices remaining at six-year lows despite speculation of a potential rebound. MarketScreener.com reports that Russia and South Africa, which collectively dominate the global palladium supply, have yet to see their geopolitical and operational challenges significantly impact market prices. Russia’s exemption from sanctions in the palladium sector and...
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