South Africa-based mining multinational Impala Platinum Holdings (Implats) reported a 5.5% year-on-year decrease in output, producing 947,000 ounces of platinum group metals (PGMs) in the quarter ending September 2024. Managed production volumes dropped by 6% to 751,000 ounces, while joint venture production rose by 3% to 145,000 ounces, according to the company’s first-quarter production report....
READ MOREPlatinum-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 MOREAsset management firm Coronation has reversed its stance on the platinum group metals (PGMs) sector, deciding to reinvest after initially pulling out a year ago due to concerns that the industry was facing a decline. The firm’s change of heart is largely attributed to the recent slowdown in the adoption of battery electric vehicles (EVs),...
READ MOREAnglo American Platinum reported a 22% increase in its refined production of platinum group metals (PGMs) in the third quarter of 2024, reaching 1.1 million ounces. This growth in refined output comes despite a drop in metal-in-concentrate production, which was down 10% to 922,300 ounces for the same period. The company has confirmed its 2024...
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 MOREFollowing the popularity of gold and silver, Costco recently added platinum bars to its lineup of precious metal offerings. Although platinum has not performed as strongly as gold and silver this year, its fundamentals remain solid. Platinum is a relatively newer commodity in the investment landscape. “Platinum is a ‘newer kid on the block’,” said...
READ MOREAsset manager Coronation has changed its position on platinum group metals (PGMs), acquiring a 5.07% stake in Northam Platinum, just a year after labeling the sector a “value trap” due to declining prices and demand. Northam informed the market of the acquisition on Thursday, marking a significant shift for Coronation, which had previously recommended disinvesting...
READ MOREThe Public Investment Corporation (PIC), Africa’s largest asset manager, has increased its stake in Sibanye-Stillwater, now holding over 15% of the diversified mining company. This move signals confidence in Sibanye-Stillwater’s long-term growth, particularly in light of its promising lithium project in Finland, which has recently received financial backing through a R10 billion green loan package....
READ MORE**TerraVolta Resources Secures $225 Million for Lithium Project** The US Department of Energy has awarded a $225 million grant to TerraVolta Resources for its Liberty Owl project, which aims to extract lithium from formation water in hydrocarbon fields located in Texas and Arkansas. The project, with an estimated capital investment of over $1 billion, is...
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...
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