Platinum group metals, especially platinum and palladium, have for long depended on the automotive industry as their main demand driver. Internal combustion engine vehicles use these PGMs in catalytic converters, but the rise of hybrids and EVs has eroded some of the demand for platinum and palladium.
Major PGM producers like Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) now have to think carefully about expanding their production capacity while also maintaining a healthy balance sheet so that investors aren’t spooked if prices…
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