The platinum market is poised for its most significant supply deficit in ten years, with projections indicating a shortfall of 598,000 ounces in 2024, up from 518,000 ounces last year. This analysis comes from Johnson Matthey, a leading authority in autocatalyst manufacturing, in a recent report detailing the dynamics of the platinum group metals (PGM)...
READ MOREUmicore 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 MOREJubilee Metals Group, the London-based metal processing firm, delivered a contrasting performance report for the first nine months of its financial year, with a remarkable upswing in chrome production but disappointing results in platinum and copper outputs. In a challenging quarter, typically marked by lower productivity due to the January holiday season, Jubilee defied trends...
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 MOREZimplats, Zimbabwe’s leading platinum producer, is set to reduce its workforce by 1% as part of comprehensive cost-reduction measures in response to a significant decline in platinum group metal (PGM) prices, according to CEO Alex Mhembere. The move follows the company’s announcement in March about offering voluntary job cuts to mitigate falling revenues. The downturn...
READ MOREZimplats, part of the Impala Platinum group, is confronting severe financial strain due to plummeting prices for platinum group metals (PGMs) on the global market. This downturn has compelled the Zimbabwe-based mining giant to extend voluntary retrenchment packages to all employee classes as a crucial step in its cost-reduction and cash-preservation efforts. Initially targeting management,...
READ MOREIn a challenging period for the platinum group metals (PGM) industry, Impala Platinum’s Zimbabwean unit, Zimplats, alongside Sibanye-Stillwater’s jointly owned Mimosa mine, are implementing workforce reductions in Zimbabwe. This development echoes a trend of retrenchments within the PGM sector in South Africa, prompted by a persistent downturn in platinum prices. Zimplats has introduced a voluntary...
READ MOREIn defiance of global economic pressures affecting the platinum industry, Zimbabwe has reported a significant increase in its platinum production, marking a notable achievement in the sector. According to the latest findings from the World Platinum Investment Council (WPIC), the country’s platinum production in the fourth quarter of 2023 escalated by 8% year-on-year, reaching an...
READ MORESouthern Palladium expressed concerns yesterday that fluctuating prices of platinum group metals (PGM) could potentially dampen investor interest in its prominent Bengwenyama project, currently at an advanced exploration stage in South Africa’s Bushveld Complex. This revelation comes despite a 6.58% increase in the company’s share price, closing at ZAR 5.99 (USD 0.32) on the Johannesburg...
READ MOREZimbabwe has made an achievement in its platinum production, surpassing half a million ounces for the first time in 2023, as reported by The Sunday Mail Business. This milestone of 507,000 ounces represents a 6% increase from the previous year, thanks to strategic investments that have enhanced operational stability. Positioned as the world’s third-largest holder...
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