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 Argentina's $5 Billion Gold Gambit: Reserves Moved for Potential Collateral READ MORE Gold Prices Expected to Rebound as Central Banks Maintain Demand READ MORE London Gold Price Benchmark Hits All-Time High at Morning Auction, LBMA Says READ MORE How Much is My Gold or Silver Worth? READ MORE Rise in Hong Kong Jewelry Market, Exports Up 6% in Early 2024 READ MORE Add a Comment Cancel replyYour email address will not be published.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