South Africa to lead global PGM supply rebound next year after dragged output

LOWER production from platinum group metals mines in South Africa muzzled global PGM supply in the third quarter although gains from the world’s biggest producers of the metal, including Zimbabwe where Valterra, Impala Platinum and Sibanye-Stillwater operate, are expected to lift up supply by 2% next year.

- TAWANDA KAROMBO

The World Platinum Investment Council said on Wednesday that global PGM supply was flat in the third quarter year on year “weighed on by lower South African mine” production.

This was after refined volumes from Valterra (formerly Anglo American Platinum) fell in South Africa.

This was reflective of “a significant destocking of semi-finished inventory in Q3'24.

Implats’ own refined production was however, little changed year-on-year, although scheduled processing maintenance led to a further build in already elevated work-in-progress stocks.

“South African production contracted 2% year-on-year to 1 028 koz,” said WIPC in a quarterly report.