Umicore's recycling business has benefited the most from higher prices, particularly for rhodium.

Palladium price has climbed more than 17% in 2021, building on five straight annual gains.

Its Oktyabrsky mine will resume full production this month after flooding and is already running at 60% capacity.

The Oktyabrsky mine will resume full production by the end of April and is already running at 60% capacity, the company said.

Company will minimise its final dividend for 2020 to fund planned investment in production growth and improving its environmental footprint.

Company is at the centre of deal talks in the gold sector but it may see its desire to create a South African gold champion thwarted as peers cut exposure to the country.

After being in the doldrums for a decade, South Africa’s platinum miners are increasing payouts as they reap windfall profits from near-record prices.