Our market

Constrained supply, together with increasing global demand for PGMs will results in fundamental deficits for these metals over the medium to long term.

Market support and development

The PGM market requires constant market support and market developments to secure long-term sustainable value creation.  This is especially relevant when one considers the unique physical attributes of PGMs and the fact that PGMs are typically not consumed, but rather used and reused in key market segments – slowly eroding demand growth as recycling develops in each market segment.

Some key strategic focus areas to grow the market include:



The IPA supports stricter emission standards and the boarder use of PGMs, including the life-cycle assessment to incentivise the use, and demonstrate the benefits of the metals




The PGI focuses on bridal and non-bridal jewellery demand in China and broader jewellery demand in India



WPIC, an initiative to develop exchange traded funds (ETF) investments in more diverse geographical locations (China, Malaysia and other regions), as well as growing investor demand and appetite to hold bullion and /or coins.  WPIC also advocate policy change for countries to hold bullion (South Africa, Russia and China).


Fuel cells


Fuel cells are a potential growth area for automotive demand.  Toyota and Hyundai are leading the way and South Africa is implementing government incentives for hydrogen research.  Implats is investigating using this technology in its refinery, while the Chamber of Mines already runs its corporate office through the use of fuel cells.  The Olympics in Japan in 2020 will also use this technology.