Use by auto makers would rise and investors would flip from net sellers to net buyers, pushing demand in 2023 up 19% to 7.77 million ounces, the Council said.

South Africa’s Public Investment Corp. said it’s decided against selling its shares in Royal Bafokeng Platinum Ltd.

The tribunal said the conditions include Impala honouring its current contracts and securing commercial terms for the renewal of contracts.

Northam has presented a formal offer of 172.7 rand per share, escalating a takeover battle with bigger rival Impala Platinum.

The government plans to start collecting half of the royalties from gold, diamonds, platinum group metals, and lithium.

Prices of the two metals are largely unchanged from the start of the year.

Metal thieves in search of platinum, rhodium and palladium have been stealing catalytic converters in ever-greater numbers, sending auto-insurance claims soaring across the country.