Palladium's shine fails to light up SA miners
Platinum's lesser-known cousin keeps going from strength to strength.
Platinum's lesser-known cousin keeps going from strength to strength. Palladium, once considered an unattractive by-product of platinum mining until the rise of catalytic converters in the 1970s, is hitting new records. Spot metal peaked at an all-time high of $1,344.41 an ounce on Wednesday. In the past month, it's been more costly than gold, which hasn't happened since 2002. You might think this will spark an immediate reversal and slump, as is often the case with commodity prices. That may not happen, though, because prices aren't high enough to prompt a supply surge. Palladium and platinum are part of an intertwined group of metals that occur in only Southern Africa, Siberia and, in smaller amounts, the US and Canada. These platinum group metals crop up in the same deposits, so it's next to impossible to produce platinum without getting some palladium, and vice versa. That's important, because the diesel scandals engulfing the global car industry in recent years are reducing ind...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.