How the wheels came off for platinum miners
It’s been a rout for platinum firms this year: shares in Amplats have fallen 59%, Implats has tumbled 60% and Northam has lost 43%. There are good reasons for this, including the faster-than-expected acceleration towards electric vehicles. And yet, there is reason to expect the good times to return ...
14 September 2023 - 05:03
“We didn’t see it coming” are not the words investors typically want to hear. But it was a refreshingly honest take from Northam Platinum CEO Paul Dunne, when asked about the decline in platinum group metal (PGM) prices that led to his company calling off its 18-month pursuit of Royal Bafokeng Platinum (RBPlat).
Tearing up the tarmac one day, wheel-less the next. So often that’s the story of commodities. But in PGMs — a niche, yet critically important family of metals that supply the global car industry — the past three years have been quite the ride...
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