African Rainbow Minerals bets on the future of PGMs
Mining company, which recently bought Bokoni Platinum, believes PGMs still have an important role in the automobile sector even as it embraces electric vehicles
01 September 2022 - 14:47
Diversified miner African Rainbow Minerals (ARM) is looking to cash in on platinum group metals (PGMs) with its purchase of the Bokoni Platinum mine even as the automobile sector — traditionally a major consumer of the precious metals — embraces electric vehicles.
The R51.4bn company said in its earnings statement for the year to end-June that a recovery in autocatalyst demand and tightening emission standards were expected to drive demand for PGMs in the short to medium term, and that constrained growth in supply would support prices...
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