Carmakers approach Amplats looking for palladium after Russia sanctions – CEO

Anglo American Platinum (Amplats) says manufacturers and carmakers are making enquiries seeking palladium following Western sanctions on Russia.
Russia produces 25-30% of the world’s supply of palladium.
Company chief executive Natascha Viljoen was quoted by Reuters as saying that uncertainty was causing “desperation” in the market as consumers seek “potential alternative sources of palladium”.
“Where we can accommodate them [new customers] after looking after our long-term customers, we will try as much as possible,” Viljoen said.
“We can’t make any firm commitments”.
She said it would take at least five years for South African palladium to boost capacity to replace Russian production of the metal and it may never meet the target.
However, Viljoen said that the Russian metal would likely reach the market through China, which will cause the supply chain to shift rather than Russian supply grinding to a halt.
Amplats produced 4.3 million ounces of PGMs in 2021.

Mathew Nyaungwa, Editor in Chief of the African Bureau, in Zimbabwe, Rough&Polished