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But a tapering in growth of EV sales, and a surge in demand for hybrid cars that need catalytic converters to curb pollution, have given PGMs a new lease of life that could put a floor under prices and keep some mines open for longer.

The Senate is currently considering amendments to the proposed "Preventing Auto Recycling Theft Act" (PART Act), which could restrict the recycling of platinum, palladium, and rhodium—three critical precious metals used in catalytic converters to reduce harmful emissions from gasoline and diesel-powered vehicles.

On September 5, 2024, the International Precious Metals Institute (IPMI) and the Recycled Materials Association (ReMA), leading trade organizations in the precious metals recycling sector, formally expressed their opposition to Senate Amendment 2422, part of the proposed National Defense Authorization Act (NDAA) for Fiscal Year 2025. In a letter addressed to key members of the Senate, including ...

“It’s a confluence of things but the market is very illiquid so our production cut at Stillwater is significant,” said James Wellsted, head of corporate affairs at Sibanye-Stillwater.
“There’s an element of Stillwater in this,” said Arnold van Graan, an analyst at Nedbank Securities. “We said previously that to be bullish on the palladium market you would need catalysts including selling more ...

Aschaffenburg, September 6th, 2024 – Hensel Recycling GmbH, an expert in the recycling of end-of-life PGM materials and Mastermelt Ltd, a leader in the refining of complex PGM materials are pleased to announce a strategic collaboration aimed at advancing the recycling and processing of PGM-based fuel cell and electrolyser materials in Europe.

“It is highly improbable we will see new investment in new prospects especially if they don’t have processing capacity. New projects are highly improbable,” he said.
Dunne said a base seemed to have formed at around R33,000 per ounce for the metals the firm produced. While now stable, he said his price level would have “significant consequences for the world’s PGM industry.” He leavened his ...

S. Africa’s platinum mining industry has entered a phase of irreversible decline as producers struggle with low prices and demand suffers from the rise of BEVs, Northam Platinum CEO Paul Dunne said on Friday.

So far this year, gold has surged by about 22%, surpassing $2,500 an ounce, driven by geopolitical uncertainty and expectations of a potential Federal Reserve interest rate cut. In comparison, the S&P 500 has risen by around 18.5% during the same period. Over the past year, the difference is even more noticeable, with the S&P 500 gaining nearly 31% and gold close to 27%.

PGMs are currently mainly used in the catalytic converters of internal combustion engine vehicles, which consume over 70% of supply. The group comprises six white-silver coloured metals including platinum, palladium, rhodium, iridium, ruthenium and osmium.

The price of a bar of gold is worth a million dollars for the first time, thanks to soaring prices for the precious metal. The price of spot gold reached more than $2,500 per troy ounce Friday, hitting a record high. The average gold bar weighs 400 troy ounces – which, when you do the math, hits a million dollars.