Prices of metals produced by Russia surged as panicky traders struggled to understand how widespread the impact of the measures would be.

Weak PGM prices and uncertain global economic prospects have forced Tharisa to delay commissioning its $361 million Karo mine.

Palladium is headed for its biggest gain since March 2020.

The fund launched in 2013 allows direct investments in platinum traded on the spot market and registered the highest inflows among locally listed funds.

The sit-in at Wesizwe Platinum’s Bakubung operation northeast of Johannesburg involves about 280 employees.

Shares hit their lowest point since March 2020 after the miner unveiled plans to drastically cut the amount of commodities it mines.

A rapid and precipitous plunge in palladium and rhodium has already forced other South African producers to cut jobs.