[South Africa's platinum group metals and gold production fell in Q1] According to MiningWeekly, South Africa's mining production fell by 2.8% YoY in March, mainly due to a decrease in the production of platinum group metals and gold. Data from Statistics South Africa (Stats SA) showed that platinum group metals production fell by 9.9%, and gold production fell by 11.1%, but iron ore production was up 7.5% YoY.

According to SMM estimates, with the gradual commissioning of new capacities for recycled silver recovery, China's annual recycled silver production is expected to exceed 5,000 mt by 2025. This growth is primarily driven by the accumulation and development of silver recycling capacities in regions such as Hunan, Guangdong, and Zhejiang, which have become important bases for recycled silver recovery nationwide.