South Africa’s platinum sector, responsible for 70% of global output, grapples with a dire situation as metal prices plummet, triggering significant job cuts and profit declines. Leading producers, including Sibanye Stillwater, Anglo American Platinum, Impala Platinum Holdings and Northam Platinum, have announced workforce reductions, totalling over 7 300 jobs. Profits have sharply declined, with Amplats reporting a 73% slump and Implats and Northam witnessing a 90% plunge in earnings. Palladium and rhodium prices have plummeted by 44% and 63%, respectively, since 2023, driving these losses. With up to half of PGM production unprofitable and a bleak outlook, the industry faces severe challenges ahead.
