Platinum 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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