Morning Bites (part 2)

🇿🇦South Africa’s PGM mining output gained 3% YoY in January, decelerating from the +9% YoY in December, according to official statistics. Meanwhile, the country’s gold production declined 13% YoY (vs. the -4% YoY in December). Although local PGM production remained slightly up on the annual basis in early 2024, we remind readers that major SA players Sibanye, Impala and Amplats have announced job cuts in response to the unfavourable market conditions. At the same time, the demand for PGMs remains subdued, amid inflationary pressures and the growing appetite for EVs globally

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

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