Article

South Africa is facing a significant supply deficit in platinum group metals (PGMs), with prices surging past $1,400 per ounce due to a projected shortfall of 966,000 ounces by early 2025. This decline in PGM output, from 5.3 million ounces in 2006 to 3.9 million ounces in 2024, is exacerbated by insufficient investment and electricity shortages impacting mining operations. In response, the government has introduced a 150% tax incentive for electric vehicle and hydrogen production investments, aimed at supporting its automotive industry and employment.