Amplats sees an increasingly bright future for platinum
Anglo American Platinum plans smart, cheap growth into an increasingly positive market for platinum and its sister metals
The world’s biggest platinum miner will use a combination of extracting the best from its assets and game-changing technologies to step up production and remain cost competitive in an increasingly positive market for platinum group metals. Contrary to the negative sentiment on platinum, Anglo American Platinum (Amplats) sees a positive market developing for the metal as it is used to substitute more expensive and less available palladium used to make autocatalytic converters in petrol engines to clean exhaust emissions. Palladium prices overtook those of platinum in 2018 and the gap is widening as demand for the metal, predominantly supplied by Russia’s Norilsk Nickel, and SA, outstrips supply, particularly as countries enact strict emissions legislation. A big jump in demand is expected from China in 2020 when it imposes tougher emissions regulations than Europe and could add more than 700,000oz of demand to the palladium market already running in deficit for years. Palladium is tr...
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