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 Record Gold Prices Fuel Modern-Day Gold Rush READ MORE Fed Chair Balances Inflation Fight with Economic Growth in Congressional Testimony READ MORE Gold Prices May Hit $3,000 by Late 2025, Says BofA READ MORE Venezuela's Gold Reserves Plunge Over 11% Amid Economic Challenges READ MORE Gold Hits Record $2,400 as Middle East Tensions Heighten READ MORE Add a Comment Cancel replyYour email address will not be published.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