Primary supplies

Primary PGM supplies are sourced directly from mines in a limited number of places and are usually mined in association with each other.

PGM mining is heavily concentrated in southern Africa (South Africa and Zimbabwe), with smaller percentages coming from the United States, Russia and other locations.  PGMs are mined mostly in their own right but can also be extracted as a by-product from mining other metals. Platinum is the main product of southern Africa mining, with a small percentage coming from by-products of mining in other regions. Palladium is mined in its own right in just two locations in North America and is mainly a co-product of platinum and nickel. The minor metals (rhodium, ruthenium, and iridium) are only ever extracted as by-products.

Mining and refining PGMs is complex and technically challenging, so the industry is populated by several large, multinational, public quoted mining companies. They are typically regulated under stringent mining and labour regulations and maintain exceptionally high environmental, social and governance (ESG) standards.

We partner with these well-established and reputable companies to ensure our metal is sourced responsibly. In March 2022, we announced we would cease all new commercial activities in Russia and Belarus with immediate effect.  As a result, we do not have any contracts in place with Russian entities (or their subsidiaries) for the purchase of metal.