Asset management firm Coronation has explained its decision to reinvest in the platinum group metals (PGMs) sector a year after pulling its clients’ money from a sector it considered essentially a sunset industry, saying its U-turn was informed by a slowdown in the uptake of battery electric vehicles (EVs).

“Having been bearish on the PGM sector for more than a year, we are turning constructive again. Governments and vehicle manufacturers around the world are toning down their EV incentives and production targets, respectively,” said analysts at the company...

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