Deficit looms on the platinum market

This article is published on behalf of Sibanye-Stillwater and Fortuna Mining, companies with which Swiss Resource Capital AG (SRC) has paid IR advisory agreements.

Platinum mine production is falling. Even if platinum demand declines slightly, there should still be an overall deficit in the current year. The wait should therefore have been worth it, as the pandemic high has been broken and a new ten-year high has even been reached. This year's price increase even exceeds that of gold. Although hydrogen technology has not yet become a major source of demand for platinum, sluggish sales of electric cars (with the exception of China) have kept platinum consumption for catalytic converters in conventional cars with combustion engines high.

According to the World Platinum Investment Council, this demand is expected to fall by two percent in 2025, but this will not dampen the platinum price trend. China consumes the most platinum, accounting for around 29 percent of global production. And since gold has become very expensive, platinum jewelry is now often replacing gold jewelry. This is reflected in the figures. Sales of platinum jewelry have risen significantly in China and other regions. At the same time, more platinum coins and bars are being sold as investment vehicles. From a global perspective, platinum demand therefore rose by around ten percent in the first quarter of 2025. Production fell by the same percentage.

But despite its high price, gold remains in high demand. Central banks, for example, now hold approximately 36,000 tons of gold. The peak was reached in the 1960s at 38,000 tons, when the Bretton Woods system was still in place. Sibanye-Stillwater - https://www.commodity-tv.com/play/sibanye-stillwater-well-on-track-to-become-cash-flow-positive-again-restructuring-bears-fruits/ - (USA and South Africa) is a successful producer of gold and platinum metals.

Fortuna Mining - https://www.commodity-tv.com/play/fortuna-mining-ceo-on-excellent-q1-results-and-future-growth/ -, with mines in West Africa and Latin America, is also successful in gold and silver production. In the second quarter of 2025, more than 71,600 ounces of gold were produced.

Current company information and press releases from Fortuna Mining (- https://www.resource-capital.ch/de/unternehmen/fortuna-mining-corp/ -) and Sibanye-Stillwater (- https://www.resource-capital.ch/de/unternehmen/sibanye-stillwater-ltd/ -).

In accordance with Section 34 of the German Securities Trading Act (WpHG), I hereby disclose that partners, authors, and employees may hold shares in the companies mentioned and that a potential conflict of interest therefore exists. No guarantee is given for the translation into German. The English version of this news release is the only authoritative version.

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