South Africa's Platinum Output Set to Plummet Amid Electric Vehicle Slowdown. In a significant development, Sibanye, one of the world's largest platinum producers, has forecast a drastic decline in South Africa's platinum output by 2034. According to the company, the slowdown in the adoption of electric vehicles (EVs) is expected to lead to a 15% reduction in platinum production over the next decade. This prediction has significant implications for the global platinum market, which relies heavily on South Africa for its supply. As the world transitions to cleaner energy sources, the demand for platinum, a key component in vehicle catalytic converters, is expected to decrease, leading to a potential shortage in the metal.
South Africa platinum output to fall 15% by 2034 amid EV slowdown, says Sibanye ET Auto
