China's 15th Five-Year Plan Elevates PGMs, Boosting South African Mining Investments

[SMM PGM Express] Valterra Platinum and Umicore’s Metal Deposition Solutions (MDS) have launched a multi-year R&D and commercialisation partnership aimed at expanding platinum group metal (PGM) applications in industrial electroplating. The collaboration will focus initially on high-speed platinum electroplating technologies for the electronics sector, including connector applications, where platinum could offer a durable and cost-effective alternative to gold. With industrial gold demand exceeding 9.5 million ounces annually, the partnership highlights the potential for platinum to capture new demand opportunities in high-value applications. Under the agreement, Valterra Platinum will provide funding over an initial three-year period, while Umicore MDS will contribute R&D expertise in materials chemistry, surface technologies and industrial-scale process development to advance solutions from laboratory research towards commercial readiness. The initiative forms part of broader efforts by PGM producers to diversify demand beyond traditional markets and create new industrial uses for platinum. Growing adoption of advanced electronics and the search for more efficient precious metal alternatives could support future demand growth. The partnership also reflects continued efforts across the PGM sector to address long-term market challenges by developing innovative applications that improve platinum’s competitiveness and expand its role in emerging technologies.

[SMM PGM Express] African Rainbow Minerals (ARM) has approved nearly USD 1 billion in investment to redevelop South Africa’s Bokoni platinum mine, signalling renewed confidence in the long-term outlook for platinum amid improving prices and tightening supply conditions. The company plans to invest approximately USD 927 million in a phased redevelopment of Bokoni, which is expected to become a significant source of platinum group metals (PGMs). Once fully operational, the mine is projected to produce around 350,000–400,000 ounces of six-element PGMs annually, strengthening South Africa’s platinum supply base. The investment comes as the global platinum market continues to face supply challenges. South Africa remains the dominant producer of platinum, but rising operating costs, power constraints and previous periods of weak prices have led to mine closures, production cuts and delayed projects. Recent improvements in platinum prices have encouraged producers to reconsider previously deferred investments.