Platinum giants get lifeline as green economy boosts demand
After a decade in the doldrums, South Africa’s key platinum industry reported windfall profits last month as supply deficits pushed palladium and rhodium to record highs.
As wage negotiations with some South African platinum producers reach deadlock, one labor union welcomed a new rule for any strike to require backing from workers in a secret ballot.
Resurgent investor demand for
platinum will drive overall consumption of the metal up 9% this year, the World Platinum Investment Council (WPIC) said on Friday.