On the supply side, most of the world’s palladium is a by-product of southern African mines mainly focused on platinum. Manufacturers whose converters at present use more palladium than platinum are likely to take several years to switch back to the cheaper metal. Both Anglo American Platinum Ltd. and Impala Platinum Holdings Ltd. posted their best half-year results since 2011, with 4.71 billion rand ($334 million) of net income at Amplats and 2.46 billion rand at Implats. Northam Platinum Ltd. still lost money at the bottom line, but its 1 billion rand operating profit was a record. Still, miners contemplating new palladium projects should look to the recent experience of another rare automotive metal, the cobalt used in lithium-ion batteries.

Source: Washington Post March 01, 2019 05:15 UTC