South African Platinum Industry Could Face 'Irreversible Decline' South Africa’s platinum mining industry is facing a significant downturn due to declining prices, reduced demand, and years of underinvestment. Northam Platinum CEO Paul Dunne predicts a 10% drop in South African platinum output over the next five years, from 3.9 million to 3.5 million ounces annually. This decline is attributed to aging mines, lack of new investments, and the growing popularity of electric vehicles, which don’t require platinum-based catalytic converters. The industry’s struggles are exemplified by Northam’s 81.6% drop in headline earnings per share and an overall slump in platinum, palladium, and rhodium prices. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Brazil Nearly Eradicates Illegal Gold Mining in Yanomami Territory READ MORE Growing Credit Card Debt: A Warning Sign for Investors READ MORE Nigeria's Central Bank Raises Interest Rate to Tackle Inflation READ MORE Gold Prices to Stay Strong Through 2024, Some Say $3,000 is a Stretch READ MORE Oil Markets React to Missile Strike in Damascus Sparks Fear READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment