Power grid investments down 24.1% YoY in Jan-Apr

[SMM Daily Review: US Fed Officials Hawkish in Droves, Silver Prices Consolidate Mildly with Improved Trading] SMM, September 22: US Fed officials turned hawkish in droves, but as rate hike sentiment was gradually digested, silver prices consolidated mildly. Stockpiling ahead of the National Day holiday stimulated some consumption, spot trading was moderate, and prices leaned toward parity. The market lacked new macro direction.

Valterra Platinum’s 2010–2025 record shows how plant interruptions, inventory backlogs and changing reporting rules shaped refined output across South Africa and Zimbabwe. Platinum, palladium and rhodium followed different price cycles, so output alone could not explain value. Prices for ruthenium and iridium add context, though their separate production is undisclosed. Stronger prices and refining lifted H1 2026 results; lasting gains depend on safety, cost control and disciplined investment.

Jubilee Metals said in its 14 September operational update that several companies had expressed interest in its Tjate PGM project and that it was reviewing the approaches as part of a strategic review. Jubilee retained the South African asset after selling its other chrome and PGM operations; Miningmx reported that a disposal is under consideration as the company focuses on Zambian copper. A sale could transfer responsibility for developing Tjate. Expressions of interest are neither a sale agreement nor financing commitments, and no production timetable has been announced. Any contribution to PGM supply depends on future development decisions.