Morning Bites

🇿🇦South Africa’s PGM mining output expanded 4% YoY in September, following the 3% YoY growth in August. Meanwhile, local gold production was roughly flat YoY for a second month. Although the county’s supply recovered somewhat in September, we remind readers that two major SA players, Sibanye and Implats, have decided to cut jobs in response to ongoing declines in PGM prices (Pd and Pt prices have fallen 45% and 19% YTD, respectively). At the same time, demand for PGMs remains weak, amid inflationary pressures and growing appetite for EVs globally

To recap, SA accounts for ~70% of global platinum, 38% of palladium supply and 3% of global gold production

#PGMs #gold    
https://metals-wire.com:3000/news-reports