South Africa’s Platinum Output Reaches Pre-COVID Levels Amid Job Cuts
Wednesday, 11 September 2024, 21:45
South Africa’s Platinum Recovery
South Africa’s platinum production has returned to pre-COVID-19 levels, primarily fueled by significant job cuts and operational adjustments across the industry.
Impact of Job Cuts on Supply
The concentrated reductions in workforce have allowed companies to streamline operations, affecting platinum group metals (PGMs) throughout the global market. This accounts for about 70% of the world’s total supply of platinum.
Market Implications
- The recent changes in output are expected to have ripple effects on global supply chains.
- Analysts are closely monitoring how these shifts will influence pricing and demand.
- The return to pre-COVID levels raises questions on future production rates and industry stability.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.