Announcement heralds a changing of the guard at the company, with long-serving chief executive Ivan Glasenberg due to step down in June.

The global budget was $8.7 billion in 2020, down from the $9.8 billion registered in 2019, S&P found.

By disrupting mining activity, the coronavirus pandemic affected platinum supply much more than demand, pushing the roughly 8-million ounce market into a deficit of 932,000 ounces last year.

The Australian miner says that both energy sources are viable power alternatives for its 100%-owned Colluli sulphate of potash (SoP) project.

The Trump administration had quietly issued a special license that exempted Gertler from the sanctions until Jan. 31, 2022.