(miningreview.com) - South Africa has more than 80% of the world’s platinum reserves and is one of the world’s largest producers of PGMs. These metals are used in an extensive range of diverse applications and industries, both existing and unexplored, ranging from the automotive sector, and electric fuel cell technology to luxury goods. Platinum is one of the rarest metals in the world with distinctive qualities, making it high value across several diverse demand segments. Its unique physical and catalytic properties have established its usefulness in industrial applications. At the same time, its unique precious metal attributes have made it the premier jewellery metal. The global platinum market size was valued at US$7.30 billion in 2021 and is projected to reach US$11.45 billion by 2030 at a CAGR of 5.13% from 2022 to 2030. However, in Davis’s view, South Africa is likely to miss the opportunity to leverage its demand.
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