Implats boss says ‘highly improbable’ new PGM mines will be developed in SA
I don’t think our industry has ever had this long-term risk, says CEO Nico Muller
Impala Platinum (Implats) CEO Nico Muller has ruled out the development of new platinum group metals (PGM) in SA, saying the long-term outlook for demand in electric vehicles has curtailed the desire to develop new assets in the sector.
“I think it is highly improbable that you’re going to see material investment in new PGM assets in SA — in particular if you don’t have beneficiation capacity. So there are two things; one is the current price environment and the other one is the long-term state of electrification [electric vehicles],” Muller told journalists on Thursday after the release of the group’s results...
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