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 LBMA Releases Precious Metals Market Report: Q4 2023 READ MORE A Closer Look at HSBC’s New Gold Token READ MORE Copper: The New Gold for Miners Amidst Global Energy Transition READ MORE BlackRock's Larry Fink Sounds Alarm on America's Mounting Debt Crisis READ MORE Hyperinflation to Hope: Zimbabwe Launches New Gold-Backed ZiG Currency READ MORE Add a Comment Cancel replyYour email address will not be published.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