The largest supplier of PGMs in the world

South Africa is the largest producer of platinum, rhodium, ruthenium and iridium worldwide. Palladium is also produced in significant quantities, and historically, South Africa is the second-largest producer annually. South African mine supply in recent years has been variable, with shaft closures and/or project deferrals taking place at many operations since 2012, plus numerous projects stalled before reaching the construction stage. Unsustainably high operating costs, low productivity and exposure to weak rhodium prices have impacted on South African output, particularly affecting UG2 Reef (rhodium-rich) operations. During low PGM prices, a production basket with a significant yield of base-metal by-product components is essential to maximise revenue per tonne hoisted.