South Africa's Platinum Group Miners Are In Jeopardy – OilPrice.com

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Anglo American Platinum Ltd (Amplats) said its 2023 profits fell by 79%, to the lowest level in 30 years, Amplats majority owner Anglo American Plc said in December.
The profit declarations have caused shares in four of South Africa’s largest platinum group metals mines all fell today, with Amplats dropping 6.8%. South Africa is responsible for 70% of the world’s platinum output.
Platinum-based proton exchange membrane technologies are a critical part of the energy transition, but automakers’ use of the platinum group metals has been called into question as some of the world’s largest automakers pull back on their electric vehicle plans.
South Africa’s platinum group metals industry is expected to cut thousands of jobs, its Minerals Council said earlier this week, as costs rise and platinum prices fall amid this uncertainty and actual weak demand out of China.