Platinum and palladium are platinum group metals (PGM), a classification which also includes iridium, osmium, rhodium and ruthenium. Both metals are highly valued for their rarity, durability and wide-ranging applications, which makes them particularly important in the automotive industry, jewellery making and clean energy. Today, the importance of these metals to global markets is growing, especially amidst the transition to a green economy. Despite belonging to the same group of metals, platinum and palladium differ markedly in their properties and applications.
Palladium is a silvery-white metal, known for its cubic crystal lattice structure. First discovered in 1802 by William Hyde Wollaston, today it is mined primarily in Russia (92 tonnes per year) and South Africa (71 tonnes per year) – the two undisputed leaders in palladium production. Palladium is one of the world’s rarest metals, and is approximately 15 to 30 times scarcer than gold, which accounts for its high price. Palladium is lightweight, durable and highly corrosion-resistant, making it suitable for use in harsh environments.
Platinum, discovered in the 18th century, is another platinum group metal and has some similarities to palladium. Platinum is heavier, denser and has a higher melting point, making it suitable for high-temperature applications. The main production centres for platinum are in South Africa and Russia. South Africa is the leading producer, holding about 95% of the world’s platinum reserves.
Though platinum and palladium may appear similar, there are some significant differences in their physical properties:
Both metals have experienced significant price volatility in recent years. Palladium prices rose sharply between 2020 and 2022, reaching $3,000 per troy ounce as a result of supply shortages driven by tightening environmental standards in the automotive industry. Despite a subsequent fall in prices (palladium is trading at $1,200 per troy ounce at the time of writing, while platinum is trading at $1,027), palladium remains more expensive than platinum due to its higher scarcity and the demand for catalytic converters.
Platinum, on the other hand, has had a more stable price trajectory, with moderate growth thanks to increasing demand for industrial applications and the development of the hydrogen economy. Analysts forecast a slow but steady increase in platinum prices, while palladium prices are likely to decline due to the growing popularity of electric vehicles, which do not require catalytic converters.
Russia and South Africa dominate production for both metals. South Africa holds about 95% of the world’s platinum reserves, while Russia leads palladium production, producing about 92 tonnes per year. This level of concentration poses a potential supply disruption risk.
Platinum and palladium are critical metals, each with unique properties that make them suitable for a wide variety of applications. Thanks to its weight, high melting point and strength, platinum is ideal for high-temperature industrial applications and jewellery. Palladium, which is light, resistant to corrosion and highly durable, is an essential metal for the automotive industry, hydrogen storage and advanced technologies in areas such as solar panels. Both metals continue to find new applications, notably in green energy.
Palladium: A unique metal with wide-ranging applicationsPalladium is one of the rarest and most valuable metals on the planet – it’s 30 times more scarce than gold. The history of this metal begins in 1802, when English chemist William Hyde Wollaston discovered a new substance while dissolving platinum in a mixture of nitric and hydrochloric acids. Initially, Wollaston was reluctant to announce his discovery to the public, preferring to sell the metal to private buyers as ‘new silver’. It was only after other scientists began to claim that palladium was simply an alloy of existing metals that Wollaston was forced to present his findings to the Royal Society of London.
The metal was named after the asteroid Pallas, which was discovered around the same time. Initially, palladium was used to treat tuberculosis, but this practice had to be abandoned because of side effects. Palladium began to be used in jewellery in 1939, most often as a component of white gold. Thanks to its anticorrosive properties and attractive silvery-white colour, it quickly gained popularity among high-end jewellers.
It wasn’t until the late 1980s, however, that the application of palladium was widely adopted. This was the result of the tightening of environmental standards in the automobile industry, when the introduction of new emissions standards in the US, Europe and Japan required the mass rollout of catalytic converters. Here, palladium proved to be a vital component.
Palladium has a unique set of properties that make it indispensable in numerous modern technologies. It is a ductile, silvery-white metal that is 12.6% harder than platinum, ensuring high wear resistance. Palladium is also ductile enough that it can be produced in sheets measuring 4 microns thick, which makes it suitable for use in hydrogen fuel cells, hydrogen purification and other high-tech applications.
One of palladium’s most remarkable properties is its ability to absorb as much as 900 times its own volume in hydrogen. This makes it vital in hydrogen purification processes and hydrogen energy. Additionally, palladium has high resistance to chemical corrosion and excellent electrical conductivity.
Historically, the automotive industry has been the largest consumer of palladium. Catalytic converters, which convert toxic exhaust gases into less harmful substances, use 2–7 grams of the metal. It is worth noting, however, that the development of electric vehicles could ultimately change palladium’s role in the automotive industry significantly. Since electric vehicles do not need catalytic converters, demand for palladium from automakers may decrease in the long term. This creates certain challenges for palladium producers, while incentivising the search for new applications for the metal.
Palladium opens the door to more efficient and environmentally friendly water purification technologies. Unlike the traditional method of disinfecting water with chlorine, which requires the storage of large volumes of hazardous chemicals, palladium-based technologies allow disinfectants to be produced directly at the point of use.
The process is based on the electrolysis of common table salt, with a palladium catalyst ensuring high reaction efficiency. The catalytic system requires just 0.6 milligrams of palladium per unit, which makes the technology economically viable even taking into account the high cost of the metal. These units are not only safer to operate, but also allow for higher levels of water purification with lower cost inputs.
Against the backdrop of the global transition to clean energy, palladium is playing a key role in the development of hydrogen energy. It is deployed across the entire cycle of hydrogen production and use, from water electrolysis to the purification of the resulting gas and its storage.
Palladium is used as an electrode component and a catalyst for the hydrogen evolution reaction in the production of ‘green’ hydrogen. Palladium membranes play a special role, possessing a unique ability to let only hydrogen molecules pass through them, thus ensuring a very high level of purification. These membranes are capable of operating at high temperatures and pressures, maintaining stability and efficiency for long periods.
Palladium membranes are already being implemented in a number of large-scale projects. For example, the British company Johnson Matthey has developed and implemented a technology for catalytic membranes that are used to produce clean hydrogen through water electrolysis. These catalyst-coated membranes are used in electrolysers and are key components in the production of ‘green’ hydrogen that avoids harmful emissions. This technology can contribute to the decarbonisation of various industries, including transport and heavy industry.
Mitsubishi Heavy Industries is dedicating significant resources to the development of hydrogen energy technologies, including solid-state electrolysis cells and anode exchange membranes, which are used to generate hydrogen for fuel cells. These technologies allow for the efficient production of hydrogen, which can be used as a clean energy source. Russia’s Nornickel, meanwhile, is investing heavily in the development of palladium membranes, with a focus on increasing their service life and efficiency.
The latest research has been positive when it comes to potential applications for palladium in solar power. A newly synthesised compound of palladium and selenium has demonstrated unique photoelectric properties. The compound has a higher efficiency when converting light energy into electrical energy compared with traditional materials used in solar panels such as copper, indium and selenium.
Although this technology is still in its fundamental research stage, scientists are already studying a number of its aspects, including the chemical stability of the new synthesised compound and how its properties change depending on particle size and layer thickness. It is expected that a prototype of a new active element for solar panels using palladium will be developed in the near future.
Palladium has proven itself as an effective catalyst in the chemical industry, and is used in many processes. It plays a particularly important role in the production of glycolic acid, a substance widely used in the pharmaceutical, cosmetic and textile industries. The traditional method of producing glycolic acid through the oxidation of formaldehyde with nitric acid is environmentally harmful. With palladium catalysts, the more environmentally friendly process of liquid-phase oxidation of ethylene glycol can be used.
Current research is focused on creating new catalytic systems based on palladium and gold nanoparticles on a carbon carrier. Laboratory tests show that these catalysts outperform existing commercial solutions in terms of both activity and selectivity, providing higher yields of the target product.
Global palladium production is concentrated in a handful of countries. Russia leads the way, producing about 92 tonnes of the metal per year, while South Africa is ranked second with 71 tonnes. Canada (16 tonnes), Zimbabwe (15 tonnes) and the United States (9 tonnes) also make significant contributions to global production.
Palladium prices have historically been highly volatile. The metal fluctuated in the $100–150 per ounce range between 1986 and 1996, and the first significant price jump occurred in 2001. In subsequent years, the price showed significant fluctuations and, as of 2016, it has begun to grow steadily, exceeding $1,500 per ounce in February 2019. In February 2022, the price reached an all-time high of around $3,000 per ounce.
Despite the potential reduction in demand from the automotive industry resulting from the development of electric transport, prospects for applications of palladium remain very optimistic. Research is actively underway to create new materials and technologies using palladium in a number of fields:
In hydrogen energy, scientists are working to improve palladium membranes by increasing their service life and efficiency. Particular attention is being paid to the development of new alloys of palladium with other platinum group metals (PGMs) to achieve a synergistic effect from their catalytic properties.
In water purification, research is aimed at optimising the composition of catalytic coatings to increase activity and reduce the amount of palladium required. New methods for applying palladium to electrodes are being developed to ensure better adhesion and a longer service life for the coatings.
In solar energy, new palladium compounds that can convert light energy into electrical energy more efficiently are being studied. Researchers are working to optimise the structure and composition of these compounds in order to achieve the maximum possible energy conversion efficiency.
Despite its high cost, palladium remains one of the most important metals for the development of new technologies. Its unique properties make it indispensable in a number of critical applications, from water purification to clean energy generation. Although the advent of EVs may lead to a decrease in demand from the automotive industry, the emergence of new applications and improvements in existing technologies are creating a sustainable future for this rare metal.
Current research and development efforts are aimed at optimising the use of palladium, which will help to reduce the amounts of the metal required in various applications while maintaining or even improving efficiency. This makes palladium-based technologies more accessible and suitable for widespread implementation, which is of vital importance in the context of the global transition to cleaner and more sustainable technologies.
Palladium use in green hydrogen generationHydrogen is emerging as a promising alternative fuel for the transportation and energy sectors due to its clean-burning property and high energy density. “Green” hydrogen, produced using renewable energy sources, is particularly attractive as it has the potential to significantly reduce greenhouse gas emissions.
One of the key technologies for the production of green hydrogen is electrolysis, a process that uses electricity to split water into hydrogen and oxygen. Palladium plays a crucial role in this process, as it is used in the construction of electrolysis cells and as a catalyst for the hydrogen evolution reaction (HER).
“Palladium is a metal having a high catalytic activity for the oxygen reduction reaction at the cathode, providing a high yield of hydrogen,” researcher Irina Goryunova says.
With palladium, the catalyst increases its activity while the resource remains the same, she explained, adding that the technology thus becomes more efficient and accessible.
“We received a prototypes of the catalyst, from particles of the palladium-iridium alloy. These passed laboratory tests and was sent for testing in semi-industrial conditions,” she added.
In the electrolysis process, a proton exchange membrane (PEM) or an alkaline electrolyzer is used to conduct the electrolysis of water. The construction of these electrolysis cells requires materials that are resistant to corrosion and provide good electrical conductivity.
Palladium, with its excellent corrosion resistance and high electrical conductivity, is a perfect material for the construction of these cells. Its ability to withstand harsh operating conditions and long-term stability under high electrical currents makes it an essential component in the manufacture of efficient and durable electrolysis cells.
In addition to its role in the construction of electrolysis cells, palladium also plays a critical role as a catalyst for the hydrogen evolution reaction. In the electrolysis process, the HER occurs at the cathode, where protons are reduced to form hydrogen gas. Palladium-based catalysts have been extensively studied for their high catalytic activity and selectivity towards the HER. These catalysts exhibit excellent performance in terms of high hydrogen evolution rates and low overpotentials, which are essential for the efficient and cost-effective production of green hydrogen.
The use of palladium in green hydrogen generation is not without its challenges. Palladium is a precious metal and has limited availability, which can pose cost and supply chain challenges for large-scale implementation of electrolysis technology. To overcome this limitation, there is ongoing research to develop alternative catalyst materials that could replace or reduce the amount of palladium required for the HER. Additionally, efforts are being made to improve the recycling and reuse of palladium to reduce its environmental impact and ensure a sustainable supply chain for green hydrogen production.
Despite these challenges, the use of palladium in green hydrogen generation offers significant benefits. The high catalytic activity and stability of palladium-based catalysts contribute to the efficiency and reliability of electrolysis technology, making it a key enabler for the widespread adoption of green hydrogen as a clean and sustainable energy carrier. As research and development efforts continue to advance the understanding and application of palladium in green hydrogen generation, the potential for cost reductions and increased availability of palladium-based technologies could further enhance the competitiveness of green hydrogen in the global energy landscape.
The sustainable benefits of palladium in hydrogen generation are obvious. Despite challenges related to its availability and cost, the unique properties of the white metal make it an essential component in the development of efficient and sustainable electrolysis technology for green hydrogen production. As advancements in materials science and engineering continue to drive innovation in this field, the role of palladium in hydrogen production holds promise for a cleaner and more sustainable energy future.
Lithium foil market analysis: battery-grade copper & lithium foils explainedLithium foil and copper foil for battery use are seeing substantial growth, driven by the rising needs from electric vehicles and energy storage systems. Key parameters like the foil’s thickness, conductivity, and the manufacturing technology used form the building blocks of this evolving supply chain.
The foil market is composed of several specialized materials
Three basic production methods separate quality:
Applications in lithium-ion batteries
Key factors are integrity (no cracks), coating compatibility, and electrical performance.
Key technical parameters include:
Asia-Pacific leads in lithium foil production, while North America accelerates copper foil capacity. Growth is driven by EVs, ESS, and electronics.
| Feature | Lithium Foil | Copper Foil | Aluminum Foil |
| Function | Active anode | Anode current collector | Cathode current collector |
| Typical Thickness | Microns | 4–12 µm | 6–20 µm |
| Conductivity | High | Very high (>99.9%) | Good, lower than copper |
| Mechanical Strength | Brittle | Tensile ~40–50 kgf/mm² | Moderate |
| Cost | High | Moderate | Low |
| Applications | Solid-state, Li-metal | Li-ion anode | Li-ion cathode |
To choose the right foil:
Major developments include
Lithium foil is used as the anode in lithium-metal and solid-state batteries. It provides higher energy densities compared to graphite but requires careful engineering and controlled conditions to be stable and safe.
Because lithium foil is highly reactive, it requires disposal through certified hazardous waste management processes or specialized battery recycling facilities. It should never be exposed to water or thrown away as regular trash, as it has significant potential for flammability.
Elon Musk has long emphasized lithium’s strategic importance in EV manufacturing. He supports increasing lithium mining and processing, whereas Tesla’s innovations include new cell designs that still rely on foils for current collection.
Yes. Metallic lithium is highly flammable, especially when exposed to water or humid air. In batteries, it is stabilized by coatings and sealed environments, but raw lithium foil is a fire hazard if mishandled.
Aluminium uses: why it’s essential in foil, cookware, wiring & aerospaceAluminium is one of the most versatile substances used in modern industry, valued for its light weight, malleability, resistance to corrosion, and conductivity of heat. Having the density value of only 2.7 g/cm³, aluminium is about one-third lighter than steel, hence making it especially suitable in applications where mass reduction is critical.
Its thin oxide film gives the metal excellent resistance to corrosion, which is enhanced further by treatments like anodising. Aluminium also has high reflectivity with the ability to reflect light in the visible spectrum to as high as 92%, thus explaining its large use in insulation products as well as the foils used in packing.
Chemically, pure aluminum is a soft and malleable metal, but the addition of alloying elements like copper, zinc, magnesium, or silicon creates materials with high strength-to-weight ratios that are important for aerospace and structural applications.
In everyday life, aluminium foil is a staple for food storage due to its barrier properties against light, oxygen, and moisture. Its reflective and heat-resistant nature makes it ideal for cooking and wrapping, maintaining food freshness while withstanding high temperatures.
Aluminium is used for making cooking utensils like pans and baking trays thanks to its thermal conductivity and non-toxic nature. It heats evenly and cools quickly, improving cooking efficiency. It’s also a safe material, provided it’s not scratched or degraded, which could expose users to trace metal leaching.
Aluminium is also prominent in packaging, from drink cans to laminated food wrappers, due to its lightweight, recyclability, and ability to preserve content. Moreover, used aluminium canopies, boats, ladders, and doors often retain value due to aluminium’s durability and recyclability.
Aluminium in construction is utilized in roofing sheets, window frames, doors, and composite panels. The corrosion-resistant and anodised coatings of the metal render it apt for external environments without any further protection.
Aluminium composite panels are widely used for façade cladding, owing to their lightness and modern look. Aluminium’s strength-to-weight ratio adds to the functionality of ladders and scaffolding made of this metal, thus making transportation easier and enhancing safety during handling operations.
Beyond buildings, aluminium is integrated into industrial machinery and components. Its adaptability through casting and extrusion processes enables the production of custom shapes for infrastructure and manufacturing.
Despite the high conductivity of copper, aluminium is often used for making electrical wires and transmission lines because of its more favorable cost-to-weight ratio. Although aluminium has about 60% of the conductivity of copper, it has only 30% of the weight, thus allowing for longer spans and lighter structural components.
This advantage explains the reason why aluminium and copper are used for electrical transmission—aluminium, in particular, for overhead power lines, and copper for cabling in highly populated urban regions. Aluminium conductors also exhibit resistance to environmental degradation, thus requiring less maintenance in the long run.
Its high heat conductivity places it as the foremost choice in applications like radiators, air conditioning devices, and heat exchangers. In addition, its non-magnetic nature makes aluminium suitable to be used in sensitive electronic environments.
Aluminium alloys have significant applications in aircraft, cars, boats, and trailers. Specific grades, like the 7075 and the 2024 aluminium alloys, have high tensile strength with the maintenance of lightweight profile, which is important to achieve improved fuel efficiency and payload in the aviation industry.
In marine applications, used aluminium boats for sale maintain their value due to the corrosion-resistant nature of aluminium in saltwater conditions. The same applies to aluminium trailers and ute trays, which offer reduced towing weights and a longer life.
Automobile producers have increasingly used aluminium components to meet fuel efficiency and emission-mitigating requirements. In engine blocks, chassis parts, as well as in body panels, aluminium plays an important role in balancing efficiency with performance.
For enhanced performance, aluminium undergoes surface treatments, like anodizing, that thicken the protective oxide layer, giving a boost to wear resistance as well as coloring potential. Anodized aluminium finds widespread use in architectural and consumer electronic applications because of its aesthetic appeal and durability.
Powder coats, lacquers, and ceramic coats work to protect the aluminium against mechanical wear and climactic influence. Such surface finishes increase durability while at the same time offering considerable design flexibility, which is especially important in today’s architectural and industrial designs.
Aluminium compounds have significant industrial value. Aluminium chloride is used in petrochemical production, aluminium sulphate in water purification, and aluminium hydroxide in pharmaceuticals as an antacid and vaccine adjuvant.
Aluminium oxide, or alumina, is a critical ingredient in both abrasive materials and refractory ceramic products. In addition to this, it is used prominently in the production of synthetic sapphires and as a precursor to the extraction of metallic aluminium via the Bayer process.
In construction, these compounds are used for waterproofing, fire retardants, and paint additives. In personal care, aluminium salts serve as active ingredients in deodorants and antiperspirants.
Aluminium is considered to be one of the world’s most recyclable products. Recycling aluminium can recover as much as 95% of the energy required to produce it from bauxite. This improvement in energy efficiency means decreased carbon emissions and lower environmental impacts.
Recycling processes do not lower the quality of aluminum, making it reusable in the long term. As a consequence, about 75% of all the aluminum ever produced is in current use.
Used aluminium sheets, cans, trailers, and doors maintain a strong secondary market, further incentivizing collection and reuse. Industries and governments increasingly emphasize aluminium recycling as a cornerstone of circular economy strategies.
It is most commonly used in the fields of construction, transport, and packaging. In addition, its ubiquitous uses in consumer durables, aviation, and power distribution are mostly due to its versatility, resistance to corrosion, and recyclability.
It is utilized in a varied range of uses, ranging from lightweight structural elements to electrical conductors, to household foil as well as pharmaceuticals. Its applications reach from important industrial sectors to common products one will encounter daily.
Aluminium is used because it has desirable characteristics such as being light, durable, non-corroding, non-toxic, and high in conductivity. Its recyclability further makes it an economical as well as environmentally friendly choice in many industries.
What is palladium white gold alloy and how is it different from traditional white gold?White gold palladium is an alloy created from the blending of pure gold with the platinum group metal palladium. The standard alloy is 75% gold (18K) with 10–25% palladium, with traces of silver or copper sometimes added in for workability. Unlike the use of nickel as decolorizer in routine white golds, palladium has the benefit of providing naturally occurring whiteness without the loss of hypoallergenic properties.
It is prized as lighter than platinum. The exact ratio of the palladium alloy to gold will determine the color, strength, and acceptability as jewelry. Higher gold percentages in an 18K palladium white gold ring retains value with the warm undertone, while durability is prioritized in the 14K alternatives.
Aesthetically, palladium white gold is characterized as having a silver-white color that is soft, shiny, and elegant in nature. It closely resembles platinum in color and is distinct from the yellowish color of nickel-alloyed unplated white gold.
Completed palladium white gold will stay whiter for longer and will not have to be plated with rhodium, as the other white gold alloys. The cooler look is ideal for clean, modern jewelry and to enhance diamonds’ fire, as opposed to rose or yellow gold.
Compared to traditional gold alloy with nickel, palladium white gold has many advantages:
There are compromises, however
These characteristics make it very desirable in beautiful gold jewelry especially in wedding and engagement rings where appearance as well as strength is the main consideration.
Palladium white gold is becoming increasingly popular in jewelry design, especially for:
Luxury jewelers increasingly use palladium alloys in premium collections designed to appeal to consumers who value appearance and strength. The metal’s own distinctive cool sheen enhances the brilliance of gemstones and is conducive to a variety of styles, from conventional to contemporary.
Palladium white gold is quite easy to maintain.
Compared to traditional white gold, it typically needs less frequent rhodium re-coating application, reducing long-term maintenance. Jewelers recommend storing it separately to avoid scratching and suggest cleaning it before storing to maintain its shine.
To ensure the authenticity of palladium white gold purchases:
High-quality gold jewelry pieces will also come with certification and detailed metal composition. Avoid unmarked or ambiguously labeled items, as they may contain lower-value alloys or different metal compositions.
White gold palladium is an upscale alloy created as palladium is combined with gold. The alloy is used as an alternative to white gold, which is normally used with nickel. The palladium provides the alloy with a natural whiteness, further enhancing the alloy’s beauty while reducing the need for rhodium plating.
Palladium is a particular class of precious metal, while white gold is an alloy created from gold which can have palladium combined with some other metals like nickel or silver. The addition of palladium creates a stronger and hypoallergenic form of white gold, which has improved brightness.
The metal has a soft, silvery-white color that is brighter than traditional white gold that contains nickel. Unlike some types of white gold that require rhodium plating to whiten them, palladium white gold maintains its natural luster without relying on additional layers.
Palladium white gold has excellent resistance to tarnishing. With the palladium, which is considered a noble metal with non-oxidizing characteristics, the strength of the alloy is improved, so the color is maintained over long terms with little maintenance.
Weekly Metals News Digest – June 2 – 6Emirates Global Aluminium (EGA) has deepened its long-standing relationship with Hyundai Mobis, the major South Korean automotive components manufacturer, by signing a new agreement to significantly increase the supply of its CelestiAL brand solar-powered aluminium. The new agreement is a continuation of their collaboration, reflecting a mutual commitment to advancing sustainability within the automotive supply chain and responding to the growing global demand for environmentally conscious materials.
The terms of the renewed agreement specify a structured ramp-up in the delivery of CelestiAL aluminium. Shipments will commence with 8,000 tonnes this year and are scheduled to increase progressively to a target of 15,000 tonnes per year by 2026. CelestiAL is a premium brand of primary aluminium that stands out for its production process, which is powered entirely by electricity generated from a dedicated solar power plant. The metal has an exceptionally low carbon footprint, making it a highly desirable material for industries and nations with rigorous environmental standards and a strong focus on corporate sustainability. Underscoring its commitment to this green product line, EGA boosted its production of CelestiAL by 27% last year, achieving a total output of 80,000 tonnes.
Beyond the supply arrangement, the two companies have also formalized their intent to collaborate on research and development. This joint effort will concentrate on creating new, advanced aluminium alloys specifically designed to meet the evolving and demanding requirements of the automotive sector, with the goal of developing lighter, stronger, and more efficient vehicle components. Additionally, EGA and Hyundai Mobis are set to explore the potential for a comprehensive, long-term supply agreement covering a broader range of aluminium products, including various alloys and other semi-finished goods, which could be implemented after the current contract period ends in 2026.
As the largest primary aluminium producer in the Middle East, EGA operates two major plants with a combined annual capacity exceeding 2.3 million tonnes. The company’s global footprint is extensive, with a portfolio that includes a bauxite mine in Guinea, the solar power facility in the United Arab Emirates, a foundry in Germany, and a scrap recycling plant in the United States. In line with its international growth strategy, EGA’s management is also advancing plans to construct a new primary aluminium production facility in the United States, further solidifying its global presence.
Researchers at the University of Freiberg in Germany have achieved a breakthrough by developing a fundamentally new tin smelting technology that, if successfully brought to a commercial scale, could revolutionize the global market for this vital non-ferrous metal. The process utilizes hydrogen as the primary reducing agent, replacing traditional carbon-based methods and dramatically minimizing the carbon footprint associated with tin production.
The conventional method for producing tin from cassiterite, its natural oxide ore, is a carbothermic reduction process that involves high-temperature furnaces and carbon-rich fuels like wood or coal. While effective, this traditional technique releases substantial amounts of carbon dioxide and sulphur dioxide, contributing to atmospheric pollution and greenhouse gas emissions. The new hydrogen-based direct reduction technology developed in Freiberg presents a much cleaner and more sustainable alternative, particularly when the hydrogen is generated through electrolysis powered by renewable energy sources, which would create a nearly carbon-neutral production cycle.
During their experimental trials, the German research team successfully demonstrated the efficiency of this new method. Their results showed that using only three grams of hydrogen per 100 grams of cassiterite concentrate was sufficient to produce tin metal with a purity level exceeding 99%. Furthermore, a crucial secondary finding was that the slag produced during the process contained approximately 13% tin, which was subsequently extracted with high efficiency through a chemical leaching process. This indicates a high overall metal recovery rate and minimal waste generation. Similar innovations in the steel industry, where hydrogen-based reduction is being increasingly adopted to decarbonize iron production, show the potential for wider application.
Global tin mining in 2024 amounted to 300,000 tonnes. The leading producing countries were China with 64,000 tonnes and Indonesia with 50,000 tonnes, followed by Myanmar, Peru, and Brazil. The introduction of a viable low-carbon smelting technology could provide a competitive advantage to producers who adopt it, as both market and regulatory pressures for sustainably sourced materials continue to intensify.
The situation surrounding the Ust-Kamenogorsk Titanium-Magnesium Combine (UKTMK) in Kazakhstan remains tense following an industrial accident in late May, raising concerns that could have repercussions for the global titanium market. The incident reportedly involved a chlorine gas leak during an unscheduled preventive cleaning of a chlorination unit, prompting an investigation by local authorities to assess the circumstances and potential threats.
As the sole producer of titanium in Kazakhstan, UKTMK is a critical player in the global supply of this strategic metal, which is indispensable for the aerospace industry due to its high strength-to-weight ratio and corrosion resistance. Last year, Kazakhstan produced 14,000 tonnes of titanium sponge, a key raw material. While this is less than the output from China (220,000 tonnes), Japan (55,000 tonnes), and Russia (20,000 tonnes), Kazakhstan’s contribution is vital, particularly for aerospace applications. A potential shutdown or even disruption at UKTMK could send shockwaves through the market, with analysts predicting a possible price surge of 20–25%. Global production capacity is already fully utilized, and there is little spare capacity to compensate for a loss of Kazakh supply, which could lead to a deficit of up to 14,000 tonnes.
The consequences for key customers would be severe. Major aircraft manufacturers, including the American company Boeing and its European competitor Airbus, rely on UKTMK for a portion of their titanium supplies. A supply disruption would create serious interruptions in their long-term production schedules. Boeing, which recently secured massive contracts from Qatar Airways for 210 aircraft (worth nearly $100 billion) and from Etihad Airways for 28 airliners ($14.5 billion), cannot afford such disruptions. Any interruption in its titanium supply chain could lead to a failure to fulfill these orders, resulting in staggering financial losses from which the company might struggle to recover for many years. Similarly, Airbus, which needs to secure more orders to remain competitive with Boeing, would see its production capacity severely curtailed by a titanium shortage.
In light of these circumstances, the incident highlights the strategic vulnerability of these aerospace giants. It would be prudent for both Boeing and Airbus to reconsider their previous decisions to halt titanium purchases from Russia, as failing to secure alternative, reliable supply lines in the face of such disruptions could expose them to heavy and potentially crippling losses.
Nornickel, in a joint effort with Ekofes, has developed an innovative application for palladium by creating specialized electrodes for use in advanced water purification systems. The technology involves applying an active coating containing palladium to electrodes, which are then used to produce sodium hypochlorite—a powerful disinfecting compound—directly from simple table salt and water through an electrochemical process.
The palladium coating reduces the operating voltage required on the electrodes, which in turn lowers electricity consumption by approximately 19%. At the same time, it extends the service life of the electrodes by almost double and increases the total amount of sodium hypochlorite produced, making the entire process more efficient and cost-effective.
This on-site generation method offers a stark contrast to traditional water disinfection practices, which often involve the transportation and storage of large quantities of bulk chlorine. In Russia alone, chlorine consumption for water disinfection is estimated at 80,000 to 100,000 tonnes annually, a process that carries logistical challenges and safety risks, including the potential for leaks that could cause serious harm to human health and the environment. In contrast, sodium hypochlorite generated directly at the point of use is much safer for handling in the concentrations used at water treatment plants. It effectively destroys pathogenic microorganisms and then safely decomposes in nature into harmless components: table salt, water, and oxygen.
Nornickel has set its sights on developing a fundamentally new area of application for palladium, one with enormous potential: the volume of wastewater discharged in Russia exceeds 35 billion cubic meters annually, while worldwide it reaches around 400 billion cubic meters. The introduction of palladium for wastewater disinfection could create additional demand for palladium in the short term of up to 5 tonnes.
The implementation of this and other projects aimed at developing and commercializing innovative palladium-based products reflects Nornickel’s strategy of creating promising markets that can replace traditional ones, such as the manufacture of catalysts for internal combustion engines. In this way, it ensures business stability and maximizes shareholder value amid the transformation of global palladium consumption.
Solus Advanced Materials, a South Korean manufacturer of copper foil, has secured an agreement with China’s Contemporary Amperex Technology Co. Limited (CATL) to supply its plants in Europe. This deal will see Solus deliver electrolytic copper foil from its two production facilities in Hungary, which have a combined total capacity of 38,000 tonnes per year—sufficient to produce components for approximately 1.5 million lithium-ion batteries for electric vehicles.
As a leading global manufacturer of high-performance copper foil, Solus Advanced Materials is known for its advanced products, including an ultra-thin foil with a thickness of just 4.5 micrometers. The company is also expanding its global footprint with the construction of a new plant in Canada, which is set to begin production next year with an initial capacity of 25,000 tonnes of copper foil annually. This North American facility will enable Solus to strengthen its position in that key regional market.
CATL, the world’s largest manufacturer of lithium-ion batteries, is also actively expanding its operations beyond China, with a major focus on the European Union and the United States. The company already operates a battery plant in Germany and is on track to open an even larger facility in Hungary by the end of 2025. The agreement with Solus is strategically important for both parties. It provides Solus with a key contract to supply a global industry leader, while CATL secures a localized European supply chain for a critical battery component, which is vital for its ambitious expansion plans. The partnership will also explore opportunities for joint research and development initiatives.
Over the past decade, Hungary has emerged as a major European hub for the production of lithium-ion batteries, attracting investments from other industry giants such as Samsung and SK Innovation. Global copper foil production capacity surpassed 2.4 million tonnes in 2024, although actual production was closer to 1.4 million tonnes. The majority of this capacity is concentrated in China, with South Korean firms like Solus competing vigorously in the global market. In the long term, copper foil production is expected to grow, driven by the continued expansion of electric vehicle manufacturing. This growth potential is attracting new players to the market; for example, in March 2025, the Taiwanese company Prosperity Tieh Enterprise, which traditionally specializes in galvanized steel products, announced its intention to enter the market by starting copper foil manufacturing at its Hung You Copper plant.
Weekly Metals News Digest – May 26 – 30The Metals Company, a US-based firm, conducted a presentation showcasing ore samples extracted from 4-kilometer depths in international waters. The event drew representatives from major global non-ferrous metals companies, including Mitsubishi, Glencore, and Panasonic Energy. The samples demonstrated high concentrations of nickel, cobalt, and copper, highlighting the potential of deep-sea mining operations.
Three distinct types of marine non-ferrous metal deposits exist in ocean environments. Polymetallic nodules represent the first category, found on abyssal plains and partially covered by fine sediments. These formations contain iron, copper, manganese, nickel, lead, cobalt, zinc, and notable quantities of lithium, molybdenum, titanium, and niobium. The second type comprises cobalt crusts that develop on underwater mountain slopes and peaks at depths ranging from 400 meters to 7 kilometers through mineral precipitation from seawater. These crusts hold manganese, iron, copper, nickel, cobalt, and various rare metals, including rare earth elements. Polymetallic sulfides constitute the third category, rich in iron, copper, zinc, silver, and gold, typically located at tectonic plate boundaries along mid-ocean ridges and volcanic arcs at approximately 2-kilometer depths.
Currently, no industrial-scale mineral extraction occurs in international waters. The International Seabed Authority regulates all mineral extraction activities in these areas and has issued 31 exploration licenses: 19 for polymetallic nodules primarily in the central Pacific Ocean, 7 for polymetallic sulfides along mid-ocean ridges, and 5 for cobalt-rich crusts in the western Pacific.
Environmental concerns surrounding deep-sea mining operations focus on emissions from seabed mining equipment and surface vessels. Excessive concentrations of exhaust particles in water could trigger irreversible ecological consequences, though acceptable threshold levels remain undefined. Natural seabed conditions maintain very low concentrations of such substances, suggesting tolerance levels may be minimal. Metal particles released during extraction from pore water and crushed ore can persist in ocean environments for up to 1,000 years, far longer than exhaust particles. In the mesopelagic zone, spanning 200 meters to 1 kilometer depth where complete darkness prevails, mercury contamination could enter seafood consumed by humans, potentially causing severe health impacts.
Mining equipment noise will create stressful conditions for marine organisms, affecting larval development, hunting patterns, and communication among marine mammals. These effects will be particularly pronounced in mountainous underwater regions where marine life congregates. Vertical migration patterns may be disrupted, potentially destabilizing ocean food chains. Despite these environmental threats, exploration and development projects for deep-sea non-ferrous metal deposits are expected to continue in coming years.
The World Platinum Investment Council released its first quarter 2025 platinum market report, revising the global platinum supply deficit forecast for the third time to 966,000 ounces for the current year. Global demand in the first quarter increased 10% year-on-year to 2.274 million ounces, driven primarily by high investment demand linked to sharp increases in platinum exchange reserves. Tariff uncertainty and growing location premiums contributed to increased metal inflows to the United States.
Total platinum supply declined 10% to 1.458 million ounces, reflecting seasonal weakness in the mining sector during the first quarter. This created a deficit of 816,000 ounces in the reporting period, representing the largest quarterly deficit in six years. The projected total supply for 2025 represents the lowest level in five years, with total supply expected to decline 4% to 6.999 million ounces. The Council forecasts demand could fall 4% to 7.965 million ounces in 2025, as growth in jewelry and investment sectors will not fully offset declining automotive and industrial demand.
Mine supply is expected to contract significantly this year. Total mining sector supply fell 13% year-on-year in the first quarter to 1.086 million ounces, the lowest quarterly production since 2020. Weakness across all major producing regions except Russia contributed to the decline, with South Africa experiencing the bulk of the reduction due to heavy rainfall, leading to a 10% year-on-year drop in refined platinum production to 715,000 ounces. The decline in total supply was partially offset by a 2% year-on-year increase in secondary processing to 372,000 ounces, resulting in total supply falling 10% year-on-year to 1.458 million ounces in the first quarter.
Full-year mining industry supply is expected to reach only 5.426 million ounces, down 6% and approximately 701,000 ounces below the five-year pre-pandemic average. Global secondary recycling is forecast to show modest recovery in 2025, increasing 3% year-on-year to 1.573 million ounces.
Jewelry demand continued its recovery and is expected to grow 5% in 2025. First quarter platinum jewelry demand grew in all regions except India, increasing 9% to 533,000 ounces. Jewelry demand is expected to continue recovering throughout 2025, building on 2024 growth, increasing 5% year-on-year to 2.114 million ounces as platinum benefits from its price discount relative to gold. China is expected to see significant growth of 15% year-on-year to 474,000 ounces, while European demand is forecast to grow 7% to reach record levels. North America will also experience growth of 8%, while Indian demand may weaken 10% year-on-year to 240,000 ounces due to declining exports amid US tariff uncertainty.
Investment demand in 2025 is expected to remain stable, supported by a 48% increase in Chinese bar and coin demand. First quarter investment demand for platinum rose 28% compared to the previous quarter to 461,000 ounces, mainly due to sharp increases in exchange-held platinum stocks. Bar and coin demand also increased 17% year-on-year to 70,000 ounces, with Chinese purchases of platinum investment bars weighing less than 500 grams reaching record highs, growing 140% year-on-year to 31,000 ounces and offsetting declines in other regions. Investment in bars and coins is forecast to strengthen 30% to 252,000 ounces.
According to Trevor Raymond, CEO of the World Platinum Investment Council, the platinum market remains in structural deficit regardless of current geopolitical uncertainties.
Nigeria’s first lithium mining and processing plant is scheduled for commissioning in June near the Kaduna-Niger state border, according to Nigerian Minister of Mines and Mineral Resources Dele Alake. The project requires approximately $600 million in investment and is expected to produce 4,000 tonnes of ore daily, from which up to 1,000 tonnes of spodumene concentrate containing 6% lithium oxide can be extracted. This material will be processed at a nearby facility to produce approximately 35,000 tonnes of lithium carbonate annually.
Chinese company Ming Xin Mineral Separation is the majority investor in partnership with Nigerian company Three Crown Mines. Three Crown Mines is also involved in constructing three similar facilities: one launching soon on the outskirts of Abuja, Nigeria’s capital, and two additional plants in Nasarawa State.
These projects involve Chinese companies Canmax Technology, Jiuling Lithium Mining, and Avatar New Energy Materials. According to estimates by Nigerian company El-Tahdam Exploration, total national lithium carbonate production capacity could reach 80,000 tonnes annually. Minister Dele Alake emphasized the focus on converting mineral wealth into domestic economic value through job creation, technology development, and processing capacity.
Nigeria currently hosts a thriving illegal mining industry supplying lithium raw materials to China and India. Over the past decade, more than 20 mines have emerged, employing primarily women and children. Nigerian government attempts to shut down these operations have proven unsuccessful due to high unemployment rates, with people continuing to work in underground mines despite constant life-threatening risks.
Global copper production in the first quarter of 2025 grew 1.2% to 5.6 million tonnes, with concentrate output increasing 1.4% and copper electro-extraction rising 0.5%, according to the International Copper Study Group. Primary growth centers were the Democratic Republic of Congo and Peru, with stable performance in Chile, while declines were recorded in the United States, Canada, Mexico, and Indonesia. Indonesian production declined significantly due to operational adjustments at the Grasberg mine, considered the world’s largest copper operation.
Refined copper production increased 3% to 7.1 million tonnes in January-March. Red metal production from ore rose 3% to almost 5.9 million tonnes, while production from scrap and waste increased 3.5% to 1.2 million tonnes. Geographically, strong growth in copper production was recorded in the Democratic Republic of Congo, China, and India, offset by declines in Chile.
Apparent global copper consumption showed similar growth to production at 3%, reaching approximately 6.8 million tonnes in the first quarter. Demand for copper was strong in several Middle Eastern, Asian, and North African countries, but weakened in the United States, European Union, and Japan.
These dynamics resulted in a copper surplus of 289,000 tonnes according to International Copper Study Group calculations. However, this surplus may decline significantly by the end of the first half due to various market factors. International trader Glencore has been purchasing Russian copper on the London Metal Exchange with plans to supply it to China.
Exchange data shows requests for delivery of approximately 15,000 tonnes of copper from London Metal Exchange warehouses were received during three trading sessions, reducing available exchange stocks to their lowest level in a year. Glencore’s transactions likely respond to challenging market conditions in China following Donald Trump’s tariff threats on copper imports, which led to massive metal volumes being redirected to the United States. This prompted traders to purchase copper on the LME for delivery to the Chinese market.
Mining corporation Anglo American completed the spin-off of its platinum metals division into a separate company called Valterra Platinum. The new entity has been listed on the Johannesburg Stock Exchange and is preparing for a London Stock Exchange listing. However, initial trading on the Johannesburg Stock Exchange was marked by declining share prices, reflecting market participants’ skepticism about the company’s condition despite positive statements from Anglo American management prior to the spin-off.
For 2025 and 2026, the company plans to produce 3-3.4 million ounces of platinum group metals, including 2.1-2.3 million ounces at its own facilities with the remainder through tolling arrangements. In 2027, production is targeted at 3-3.5 million ounces, with 2.3-2.5 million ounces directly at Valterra Platinum facilities.
The establishment of Valterra Platinum forms part of Anglo American’s asset portfolio restructuring strategy, which includes selling nickel mining operations in Brazil and coking coal operations in Australia. The company is also exploring options for selling its stake in De Beers, the world’s leading diamond miner, which faces revenue challenges from cheap synthetic stones and weak demand in India.
Valterra Platinum CEO Craig Miller sees significant potential for platinum price increases due to projected global shortages caused by renewed demand from jewelry manufacturers and automakers using platinum catalysts. Valterra Platinum management plans to distribute 40% of net profits to security holders and may consider share buybacks if platinum and platinum metal prices trend toward sustained growth and excess cash becomes available.
Weekly Metals News Digest – May 19 – 23Transition Elements, a Norwegian company, has submitted an application to the prefecture of the Hérault department in southern France for an exclusive license to explore and prospect for lithium deposits. The company’s proposal covers a 218-square-kilometer area, where it intends to conduct a multi-phase geological exploration program. The initial stage will focus on collecting rock samples and mapping the area, followed by at least a year of geological analysis. Subsequently, geophysical surveys are planned to further assess the site’s potential.
This application is part of a broader licensing contest for lithium exploration in the region, which was announced in April and will continue until July. The authorities have not yet indicated whether Transition Elements’ application will be approved, and the process remains competitive and uncertain.
Local officials are paying close attention to the environmental implications of the project. Francis Barssa, the mayor of Bedarrie, noted that while it is too early to assess the potential benefits for the region, strict oversight of environmental risks is essential, particularly with respect to drilling wells that could intersect aquifers used for drinking water and irrigation.
Geologists have identified promising lithium concentrations in both igneous and sedimentary rocks in the region, but the true extent of the reserves will depend on the results of detailed exploration. Transition Elements aims to extract lithium from underground brines, a method that involves bringing the brine to the surface, separating the lithium, and then reinjecting the processed brine underground. The targeted brines are located below the aquifers that supply water to local communities and agricultural operations.
Currently, France does not produce lithium domestically, but the government is actively encouraging exploration and development of lithium resources to support the country’s electric vehicle and battery industries. This initiative aligns with broader European efforts to secure critical raw materials and reduce reliance on imports.
Emirates Global Aluminium has announced plans to invest $4 billion in constructing a new aluminium plant in the United States, with a projected annual capacity of 600,000 tonnes. This facility, which is expected to be located near the river port of Tulsa, Oklahoma, would nearly double the country’s primary aluminium production capacity.
The announcement comes soon after a visit by US President Donald Trump to Gulf countries, during which the UAE government pledged $200 billion in investments by national businesses in the US economy. Emirates Global Aluminium’s decision to build in the US is also influenced by the desire to avoid high tariffs on aluminium imports, including a 25% aluminium tariff and an additional 10% reciprocal tariff.
In November of the previous year, Emirates Global Aluminium acquired Spectro Alloys, an American aluminium scrap recycler. The company plans to expand Spectro Alloys’ operations by adding a new line for producing recycled aluminium profiles with a capacity of 55,000 tonnes per year, supplementing the existing smelting furnaces with a total capacity of 110,000 tonnes per year.
Discussions are underway with Oklahoma state authorities regarding long-term electricity supply contracts and potential tax and other incentives for the new plant. The feasibility study for the project is expected to be completed in the first half of 2026, with construction scheduled to begin later that year. The first phase of the plant is anticipated to be commissioned no earlier than 2030.
In a related development, Century Aluminum, a US-based company, announced at the beginning of 2025 that it would begin work on a new primary aluminium smelter. The location for this facility has not yet been finalized, but the company is considering sites in the Ohio or Mississippi River basins. Century Aluminum projects that construction will create 5,500 jobs, with over 1,000 permanent positions to follow. The company is partnering with local colleges to recruit and train workers for the new facility.
Century Aluminum previously secured a $500 million grant from the US Department of Energy and signed a cooperation agreement as part of efforts to strengthen domestic industry and lower carbon emissions. These funds are being provided under infrastructure and job investment and inflation reduction laws.
Aluminium remains a critical metal for the US economy, supporting industries such as automotive manufacturing and food packaging. Despite this, primary aluminium production in the US has declined due to high electricity costs and fluctuations in alumina prices. In 2019, the US produced 1 million tonnes of primary aluminium and 3 million tonnes of secondary aluminium. By 2023, primary production had dropped to 750,000 tonnes, while imports of aluminium and aluminium-based products rose to 4.8 million tonnes to make up for the shortfall.
BHP Group and Lundin Mining have reached an agreement to jointly acquire Filo Corporation, which is developing the Filo del Sol deposit on the border between Argentina and Chile. This copper deposit is regarded as one of the world’s largest, with current estimates indicating at least 13 million tonnes of copper, alongside substantial gold and silver reserves. Ongoing drilling suggests that the scale of the deposit could increase even further.
The acquisition takes place amid forecasts of a global copper shortage and rising demand for copper, particularly for use in renewable energy infrastructure, electric vehicles, and other technologies linked to the energy transition. The development of new copper deposits is becoming increasingly complex and costly, leading to a wave of mergers and acquisitions in the mining sector as companies seek to secure future supply.
Preliminary resource estimates for Filo del Sol indicate resources of 22.3 million ounces of gold, 8.2 million tonnes of copper, and 600 million ounces of silver. The capital investment required for the project is estimated at $1.8 billion. Once operational, the mine could produce 66,000 tonnes of copper, 168,000 ounces of gold, and 9.25 million ounces of silver annually. The payback period for the project is estimated at 3.5 years, with a projected mine life of 13 years.
Filo Corporation is also responsible for developing the Josemaria deposit, which contains 4.6 million tonnes of copper, 9.8 million ounces of gold, and 59 million ounces of silver. Like Filo del Sol, Josemaria is located along the Argentina-Chile border. Both projects require substantial investment and will take several years to reach full-scale industrial production, but they are expected to play a significant role in meeting future copper demand.
Aluminium Dunkerque, the largest primary aluminium producer in France with an annual capacity of 300,000 tonnes, has announced the commissioning of its eighth aluminium scrap remelting furnace. The new furnace has a capacity of 10 tonnes per hour and is expected to produce around 20,000 tonnes of secondary aluminium annually. This addition will help Aluminium Dunkerque reduce its carbon dioxide emissions and lower its specific electricity consumption.
According to CEO Guillaume de Goa, France currently exports about 500,000 tonnes of aluminium scrap each year. By increasing domestic recycling capacity, the country can retain more strategic metal resources and contribute to climate change mitigation efforts. The new furnace is part of a broader strategy to enhance the sustainability of aluminium production in France.
In conjunction with the new furnace, Aluminium Dunkerque has signed a ten-year electricity supply agreement with EDF, the French state-owned nuclear power operator. The contract, which will take effect on 1 January 2026, will ensure that most of Aluminium Dunkerque’s energy needs are met with carbon-free nuclear power. This move is expected to further reduce the carbon footprint of the company’s operations and provide long-term stability for its energy supply.
Cobalt Holdings has announced plans to launch an initial public offering (IPO) on the London Stock Exchange in June, which could become the largest UK IPO in over two years. The company expects to raise approximately $230 million through the offering. Major investors in the IPO include international trader Glencore and investment firm Anchorage Structured Commodities Advisor, which will collectively acquire 20.5% of the shares on offer.
Cobalt Holdings specializes in the purchase and storage of cobalt, a metal essential for battery production. The company’s business model allows investors to gain exposure to cobalt without the direct risks associated with mining and exploration. CEO Jake Greenberg has emphasized that this approach provides a more accessible way for investors to participate in the cobalt market.
The company has also secured a six-year supply contract with Glencore, under which Glencore will provide cobalt worth up to $1 billion. The first phase of this agreement involves the delivery of 6,000 tonnes of cobalt at a discount to the current spot price, valued at $200 million. Additionally, Cobalt Holdings has entered into an agreement with Anchorage Structured Commodities Advisor to purchase 1,500 tonnes of cobalt in 2031.
According to the US Geological Survey, global cobalt mine production reached 290,000 tonnes in 2024, with the Democratic Republic of Congo accounting for 220,000 tonnes, Indonesia for 28,000 tonnes, and Canada for 4,500 tonnes. China remains the dominant player in refined cobalt production, accounting for 75% of global output and exerting significant influence over world prices.
Cobalt prices have experienced considerable volatility in recent months. In February, prices on the London Metal Exchange fell to a multi-year low of $21,550 per tonne. Following a four-month export ban imposed by the Democratic Republic of Congo, prices surged to nearly $36,200 per tonne before stabilizing at around $33,700.
The Cobalt Institute forecasts that global demand for cobalt will grow by an average of 7% per year, reaching 400,000 tonnes by the early 2030s. This growth will be driven primarily by the expansion of electric vehicle production. In 2024, global cobalt consumption was 222,000 tonnes, with electric vehicles accounting for 43% of demand. By 2030, this share is expected to rise to 57%, while demand from other sectors, such as electronics and superalloys, is expected to slow. The global cobalt market was in surplus by 36,000 tonnes in 2024, compared with a surplus of 25,000 tonnes in 2023.
Palladium: uses, properties, and fascinating facts about the rare metalPalladium (Pd) is a lustrous, silver-white metal belonging to the platinum group metals (PGMs). It is renowned for its high catalytic activity, chemical inertness, and exceptional ability to absorb hydrogen, which makes it highly valuable across numerous advanced technologies.
Key physical and chemical properties include:
Its unique ability to catalyze chemical reactions and withstand harsh conditions has made palladium chemistry critical in industrial and scientific applications.
The primary industrial use of palladium is in automotive catalytic converters, where it helps reduce harmful emissions by converting hydrocarbons, carbon monoxide, and nitrogen oxides into less harmful substances. This application alone accounts for about 75% of global palladium demand.
Beyond automobiles, palladium is also used in:
As palladium usage expands with the growth of clean technologies, its strategic importance in the palladium industry continues to rise.
Palladium jewelry has grown in popularity due to its natural whiteness, lightweight feel, and hypoallergenic properties. It’s often used as:
Unlike rhodium, palladium does not require regular plating, making it low-maintenance for daily wear. Its use in fashion has surged, especially after hallmarking regulations in Europe and North America formally recognized palladium as a precious metal.
From an environmental perspective, palladium plays a vital role in emissions control, helping countries meet clean air standards. Its use in catalytic converters directly supports reductions in urban smog and greenhouse gas emissions.
Economically, palladium is one of the most valuable and volatile precious metals on the market. Prices surged past $3,000 per ounce in 2021 and early 2022 due to tight supply and regulatory shifts boosting demand. Key economic factors include:
With growing demand from green technologies and limited mining capacity, palladium remains a critical and closely watched commodity.
Palladium is valuable due to its scarcity, heavy use in emission-reducing technologies, and growing demand from automotive and clean energy sectors. Its limited supply — mainly from Russia and South Africa — and high catalytic efficiency make it indispensable and expensive.
The automotive industry is the largest user of palladium, consuming over 80% of annual production for catalytic converters in gasoline engines. Other key sectors include electronics, hydrogen purification, and dental applications.
In terms of industrial utility, palladium is often more valuable than gold. While gold is mainly used for investment and adornment, palladium has critical functional roles in clean technologies, electronics, and chemical manufacturing. However, gold retains a broader appeal for wealth storage.
The main use of palladium is in catalytic converters for vehicles. It enables the reduction of toxic exhaust emissions, making it essential for meeting global environmental regulations and improving air quality.
Palladium: properties, synthesis methods, and diverse applicationsPalladium (Pd) is a soft, silvery-white metal belonging to the platinum group metals (PGMs), widely valued for its catalytic properties, corrosion resistance, and hydrogen absorption capabilities.
Key properties include:
These attributes make palladium essential across a variety of cutting-edge technologies and scientific applications.
Palladium nanoparticles (PdNPs) are synthesized using diverse methods tailored for specific sizes, shapes, and surface chemistries. Common synthesis approaches include:
Palladium salts (such as PdCl₂) are reduced using agents like sodium borohydride or hydrazine. Surfactants (e.g., PVP, citrate) are added to stabilize particles and control morphology.
This method uses organometallic palladium precursors that decompose under heat in organic solvents to form monodispersed PdNPs. It’s often applied for catalyst production with uniform particle size.
Eco-friendly “green” synthesis uses plant extracts or microorganisms to reduce Pd ions, offering sustainable alternatives with minimal toxicity — a growing trend in nanomedicine and environmental science.
The chosen synthesis method influences particle size, crystallinity, catalytic performance, and compatibility with various applications.
Palladium nanoparticles are central to numerous high-performance industrial processes. Key applications include:
Their large surface area and tunable activity make PdNPs superior to bulk palladium in many applications.
In biomedicine, palladium nanoparticles are emerging as multifunctional agents due to their biocompatibility, chemical reactivity, and easy surface modification.
Applications include:
These developments underscore palladium’s potential in personalized medicine and advanced diagnostics.
Palladium is a strategic material with strong implications for environmental protection and global markets.
Its dual value — as an industrial material and investment asset — underscores its importance in both technology and finance.
Palladium nanoparticles are ultra-small particles (1–100 nm) of palladium metal with enhanced catalytic, electronic, and optical properties, widely used in clean energy, medicine, and industrial catalysis.
Pd nanoparticles are used in:
Applications span:
The main use of palladium is in automotive catalytic converters, where it helps transform harmful gases into less toxic substances, making it critical for environmental protection and emissions control.
Interesting facts about copper: history, science, and surprising usesCopper is one of the oldest metals known to humanity. Archaeological evidence shows that it was used over 10,000 years ago. The Çatalhöyük settlement in modern-day Turkey, dating back to around 7500 BCE, contains some of the earliest examples of copper tools.
During the Bronze Age, copper was alloyed with tin to create bronze, marking a major leap in toolmaking and societal development. The metal was so essential that entire civilizations — like those of Mesopotamia and Egypt — flourished around copper mining and trade.
In ancient Egypt, copper was symbolically linked to life and fertility and used in religious artifacts. The Romans utilized copper extensively in plumbing, giving rise to the Latin word cuprum — the origin of the modern element symbol Cu.
Copper is a ductile, malleable metal with excellent thermal and electrical conductivity — second only to silver. Its reddish hue makes it easily recognizable and distinct from other metals.
Biologically, copper plays a vital role in human health. It helps with:
In nature, copper exists in trace amounts in soil, water, and living organisms. Marine animals like octopuses use a copper-based molecule called hemocyanin for oxygen transport — similar to how humans use iron-based hemoglobin.
Today, copper is indispensable in modern life. It is used in:
A typical electric vehicle contains up to 80 kg of copper, and global demand is expected to soar as the world transitions to clean energy. Its reliability and efficiency make copper a cornerstone of modern infrastructure.
Copper stands out for its sustainability. It is 100% recyclable without loss of quality. Recycled copper meets about 35% of global demand, significantly reducing the need for new mining.
Recycling copper requires up to 85% less energy than primary production, lowering carbon emissions and environmental footprint. Because of its long lifespan and reusability, copper is a model metal for circular economy systems.
Moreover, copper’s antimicrobial properties reduce the spread of bacteria, making it useful in public spaces, hospitals, and water purification systems — another sustainability benefit often overlooked.
Here are some lesser-known copper facts that might surprise you:
Copper has long been associated with beauty, healing, and protection. In alchemy, it was symbolized by Venus, reflecting its connection to femininity and love. Many cultures believed copper had healing powers and wore it to treat arthritis and inflammation.
In architecture, copper’s elegance and patina make it a favorite for roofs, domes, and sculptures — from medieval European churches to modern design icons.
In mythology and folklore, copper was considered a bridge between earthly and divine forces. The Greeks linked it to Aphrodite, while in Hinduism, copper utensils are used in ritual purification.
Its presence in coins, jewelry, and art over millennia underscores its enduring cultural and aesthetic value.
Copper is special due to its unique combination of conductivity, malleability, and antimicrobial properties. It plays a crucial role in technology, health, and sustainability. Its historical and symbolic significance also sets it apart from other metals.
Nickel is a lustrous, silver-white metal known for its magnetism, durability, and corrosion resistance. It is one of only a few elements that is ferromagnetic at room temperature, making it valuable in a wide range of magnetic and electronic applications.
Key characteristics of nickel include:
Because of its mechanical strength and resistance to heat and chemicals, nickel is widely used in demanding industrial conditions.
The name “nickel” comes from the German word Kupfernickel, meaning “Devil’s copper.” Medieval miners in Saxony (now Germany) thought they were extracting copper, only to be frustrated when the ore yielded nothing usable — blaming it on mischievous spirits called Nickel.
Nickel was officially identified as a distinct element in 1751 by Swedish chemist Axel Fredrik Cronstedt, who isolated it from the mineral now known as nickeline.
Long before its official discovery, however, nickel-rich alloys were used in ancient China as early as the 3rd century BCE. Archaeological evidence shows that “white copper” coins from the region contained nickel, likely from natural alloys.
Nickel is a critical component of modern technology and infrastructure. Its versatility supports numerous industries:
Nickel’s importance in the green transition is growing rapidly, with demand from the EV and energy storage sectors forecast to rise steeply.
Nickel has often been associated with value and strength, though it rarely holds the spotlight like gold or silver. In the United States, the 5-cent coin is famously called a “nickel”, which contains 25% nickel and 75% copper.
In modern branding and symbolism:
Nickel’s unique combination of magnetic properties, corrosion resistance, and ability to form heat- and pressure-resistant alloys makes it indispensable in both traditional and high-tech industries — from steel to space exploration.
Nickel is considered moderately hard. It is strong enough for industrial use and resistant to deformation, but still malleable and workable — especially when alloyed with other metals to enhance specific mechanical properties.
Metals and Mining Digest May 12–16Rio Tinto, working in collaboration with Indium Corporation, has completed the first phase of a research initiative aimed at producing gallium, a rare metal. The companies have successfully produced a pilot batch of gallium, marking a key milestone in the project. The next phase will focus on evaluating the efficiency of extracting gallium from bauxite during the alumina production process. Should this stage prove successful, plans are in place to construct an experimental facility in Quebec, Canada, with a projected capacity of up to 3.5 tonnes of gallium per year. The companies are seeking financial backing from provincial authorities in Quebec for this development.
If the project advances as planned, the final stage will involve establishing full-scale industrial gallium production at the Vaudreuil alumina plant, which is currently the only alumina facility of its kind in Canada and is operated by Rio Tinto. Gallium is primarily obtained as a byproduct during the processing of bauxite and nepheline into alumina, which is then used in aluminium production. It can also be extracted from coal and from water produced during oil and gas extraction. Notably, Altona Rare Earths recently reported finding unusually high concentrations of gallium in fluorite, which is rare for this mineral.
Global gallium production is limited, with only 760 tonnes produced annually. Of this, China is responsible for 750 tonnes, while the remainder comes from Japan, South Korea, and Russia. In Europe, the European Commission has recently designated a project by Greece’s Metlen Energy & Metals to build a 50-tonne-per-year gallium plant as a strategic initiative.
Gallium is used mainly in the manufacture of light-emitting diodes (LEDs) and semiconductors. It also has applications in thermometers as a non-toxic alternative to mercury, as a coolant in nuclear reactors, and in the production of metal adhesives. New uses are emerging, such as in China, where high-power charging stations for electric vehicles have been developed using hollow tubes filled with liquid gallium instead of traditional copper cables, improving heat dissipation during charging. Japanese companies Mazda and Rohm Semiconductor are also developing gallium-based components for electric vehicles, aiming to make them lighter and more compact than silicon-based alternatives. In another development, Australian scientists have created a catalyst from palladium dissolved in liquid gallium, which accelerates chemical reactions by up to 10,000 times. This catalyst could be used for converting carbon dioxide into methanol at low temperatures or for purifying industrial wastewater.
The United Nations Conference on Trade and Development (UNCTAD) has warned that a looming shortage of copper could slow the rollout of digital technologies and the global shift to green energy. Their forecast suggests that copper demand will rise by more than 40% over the next 15 years. This increase will be driven by the growing production of electric vehicles and solar panels, the expansion of data centers and smart grids, and greater use of copper in water supply systems, where its resistance to bacterial and algal growth is valued.
A major challenge is the decreasing number of large copper deposits being developed, especially those located in favorable geographic and geological regions. The rate of new discoveries is low, and it can take up to 25 years for a new deposit to move from discovery to production. Over half of the world’s proven copper reserves are located in Peru, Chile, Congo, Russia, and Australia. In terms of processing, China dominates, producing 45–50% of the world’s cathode copper and importing up to 60% of copper ore.
Many countries with copper resources primarily export concentrates, missing out on the added value of processing them into cathode copper and manufacturing finished products. UNCTAD has identified the development of copper scrap and waste recycling as a way to help close the supply gap. In 2023, secondary sources contributed 4.5 million tonnes, nearly 20% of global refined copper production. The United States, Germany, and Japan are the largest exporters of copper scrap, while China, Canada, and South Korea are the leading importers.
This outlook is supported by BHP Group, which also forecasts that copper consumption could exceed 50 million tonnes by 2050. However, the pace of new copper mining projects is slow, and it is estimated that an investment of $250 billion will be required to accelerate the development of new deposits. Without this, the copper deficit could reach 10 million tonnes.
Westwin Elements has announced plans to build the first nickel production plant in the United States. The company has secured a $188 million loan from the U.S. Export-Import Bank to support the project. According to the US Geological Survey, global nickel ore production in the past year reached 3.7 million tonnes (pure metal equivalent), with Indonesia leading at 2.2 million tonnes, followed by the Philippines and Canada. The United States produced only 8,000 tonnes, which were exported due to the absence of domestic nickel refining facilities.
Despite strong demand, the US currently imports 100,000 tonnes of primary nickel and 40,000 tonnes of secondary nickel annually, mainly from Canada, Norway, Brazil, and Indonesia. Indonesia has become the world’s largest nickel producer, supplying many countries, including the US.
Westwin Elements plans to build a facility capable of processing 64,000 tonnes of nickel per year. The company will source raw materials from the global market and is also considering the future NorthMet copper-nickel mine in Minnesota as a potential supplier. CEO KaLeigh Long has stated that building the plant will help secure a skilled workforce and avoid deforestation by choosing a non-forested site. The facility will also help the US avoid high import duties and meet rising domestic demand, particularly from stainless steel and heat-resistant alloy manufacturers. Demand for nickel is expected to increase further due to growth in robotics and artificial intelligence.
The government of Guinea is considering revoking Emirates Global Aluminium’s mining license due to the company’s failure to meet requirements for building bauxite processing facilities. Under laws adopted in 2022 and 2023, all foreign companies mining bauxite in Guinea must begin local alumina production by 2027.
Guinea Alumina Corporation, majority-owned by Emirates Global Aluminium, began mining operations in 2019 and had reached an annual export volume of 14.1 million tonnes. However, in October 2024, the Guinean government suspended exports following a dispute over customs duties. Guinea produced 144 million tonnes of bauxite in 2024, making it the world’s largest supplier, but only the Friguia alumina plant, operated by Russia’s Rusal, is currently producing alumina in the country, with an output of just under 340,000 tonnes in 2024. In March, China’s SPIC International Investment and Development began constructing another alumina facility.
Guinea’s actions are part of a broader trend in West Africa, where countries such as Mali, Niger, and Burkina Faso are revising agreements with foreign mining companies to increase state revenues and capital investment in local economies. This follows the example set by Indonesia, which banned nickel ore exports and developed its domestic nickel industry.
Indonesia’s cobalt production capacity is expected to reach 114,630 tonnes by 2027, more than doubling the 55,630 tonnes produced last year, according to Septian Hario Seto of Indonesia’s National Economic Council. Indonesia is the world’s second-largest cobalt producer after the Democratic Republic of Congo. Earlier this year, Congo imposed a four-month ban on cobalt exports to support prices, which had fallen due to oversupply. The ban led to a swift increase in cobalt prices. Indonesia, however, does not currently plan to restrict exports.
The increase in Indonesian cobalt output is linked to higher nickel production, driven by the widespread adoption of high-pressure acid leaching technology for laterite ores. According to the Cobalt Institute, demand for cobalt is expected to outpace supply, with the market moving from surplus to deficit by the early 2030s.
Global cobalt supply is projected to grow by about 5% per year, but Congo’s share of the market is expected to fall from 76% in 2024 to 65% in 2030. Indonesia’s share is forecast to rise from 12% to 22% over the same period. Demand for cobalt, excluding government stockpiling, is expected to grow by an average of 7% annually, reaching 400,000 tonnes by the early 2030s. This growth will be driven mainly by the electric vehicle sector. In 2024, global cobalt consumption was 222,000 tonnes, with electric transport accounting for 43% of demand. By 2030, this share is expected to increase to 57%, while demand from other sectors such as electronics and superalloys is expected to slow. The cobalt market had a surplus of 36,000 tonnes in 2024, up from 25,000 tonnes in 2023.
Fascinating facts about platinum: from ancient origins to modern marvelsPlatinum is a dense, silvery-white metal that stands out for its remarkablea chemical stability, corrosion resistance, and high melting point of 1,768°C (3,214°F). It is part of the platinum group metals (PGMs), known for their catalytic properties and durability.
What makes platinum truly unique:
These qualities explain why platinum is invaluable across industries that require precision, reliability, and longevity.
Although platinum was officially identified in the 18th century, its history stretches back to ancient times. Pre-Columbian civilizations in South America, particularly in present-day Colombia and Ecuador, used platinum in ceremonial artifacts — often unknowingly alloyed with gold.
The metal first reached Europe in the 16th century via Spanish explorers who found it in river sands. They called it “platina”, or “little silver,” initially considering it an impurity in gold mining. It wasn’t until the mid-1700s that Antonio de Ulloa, a Spanish scientist and naval officer, described platinum in Europe.
By the 19th century, platinum had found its place in scientific instruments, jewelry, and even in the Royal Mint of the Russian Empire, which used it to mint coins due to its durability.
Today, platinum is essential to modern technology and innovation. Some of its most critical uses include:
Its performance under extreme conditions makes platinum irreplaceable in many high-tech environments. As global industries move toward decarbonization, platinum’s role in the hydrogen economy is expected to grow substantially.
Platinum symbolizes rarity, purity, and prestige. It is widely used in luxury branding — from platinum credit cards to “platinum-level” status in loyalty programs.
In awards and music, platinum records mark major commercial success, outranking even gold status. This association reflects the metal’s scarcity and value, as platinum is slightly rarer than gold in the Earth’s crust.
In jewelry, platinum is prized for its luster and durability. Unlike gold, it does not wear away easily, making it ideal for heirloom-quality items. Its hypoallergenic nature also makes it suitable for sensitive skin.
In some cultures, platinum represents eternal love and strength, reinforcing its popularity in wedding rings and anniversary gifts.
Platinum is rare because it forms under extremely specific geological conditions. It’s found in small quantities in only a few places worldwide, often alongside other PGMs and usually as a byproduct of nickel and copper mining. Extraction is complex and energy-intensive.
Platinum is slightly rarer than gold. While gold is distributed more widely and mined in larger volumes, platinum occurs in much lower concentrations and in fewer geological formations.
High-end and hypoallergenic jewelry.
How nickel powers electric vehicles: from battery chemistry to global supplyNickel plays a critical role in modern electric vehicle (EV) batteries, particularly in lithium-ion chemistries such as nickel-manganese-cobalt (NMC) and nickel-cobalt-aluminum (NCA). These nickel-rich cathodes are central to achieving higher energy density, which translates to longer driving ranges and better performance for EVs.
In battery cells, nickel contributes to the cathode’s ability to store and release energy, directly impacting the vehicle’s range and charging efficiency. Compared to earlier lithium-ion batteries that relied more on cobalt or manganese, nickel-rich designs can deliver more capacity per kilogram, making them ideal for high-performance EVs.
Notably, companies like Tesla, General Motors, and Volkswagen rely heavily on NCA and NMC chemistries in their premium models, where energy density and range are top priorities.
Batteries with a high nickel content offer several advantages that align with both industry goals and consumer expectations:
These benefits are driving a shift from older chemistries like LFP (lithium iron phosphate) in performance vehicles. For instance, Tesla’s long-range and performance models primarily use NCA or NMC batteries with high nickel content, depending on production location and model version, while more cost-sensitive models may use LFP.
According to the IEA, nickel demand from the EV sector is expected to grow by 2.5 to 3.5 times by 2030. This surge is reshaping global supply chains and encouraging new investment in refining capacity — particularly in North America and Europe, which aim to secure local sources for clean energy materials.
The rapid expansion of nickel mining raises serious environmental and ethical challenges. Key concerns include:
To address these issues, companies and governments are turning to:
Consumer awareness and regulatory pressure are pushing automakers to disclose supply chain practices, making sustainability a growing part of the nickel equation.
Nickel’s role in the EV market is expected to intensify over the next decade. Battery makers are experimenting with:
However, some automakers are also hedging against nickel volatility. BYD and Tesla, for example, are expanding their use of LFP batteries in lower-cost models due to their simpler supply chain and durability, though these chemistries typically have lower energy density.
In conclusion, while nickel remains essential for long-range EVs, the industry is evolving toward multi-chemistry solutions that balance cost, performance, and sustainability.
Yes, nickel is widely used in electric vehicles as a key component of lithium-ion battery cathodes. It helps increase energy density, enabling longer range and better performance. Nickel is also used in stainless steel parts and other structural components.
Yes, Tesla uses nickel-rich batteries, particularly NCA (nickel-cobalt-aluminum) cells, in its Model S, Model X, and long-range versions of Model 3 and Y. Tesla has actively sought new nickel supply sources to support its expansion.
Most premium electric vehicles use nickel-based lithium-ion batteries. These include:
Budget models may use LFP batteries, which do not contain nickel.
In early 2024, reports suggested that Nio faced losses of up to $35,000 per vehicle, though later estimates placed the figure closer to $11,000–$15,000, reflecting material costs, R&D, and inefficiencies. Nickel pricing and supply constraints were among the contributing factors.
Platinum nanoparticles: synthesis methods, properties, and applicationsPlatinum nanoparticles (PtNPs) can be synthesized through a variety of chemical, physical, and biological approaches, each offering specific advantages in terms of particle size, shape, and stability.
This is the most common approach, where platinum salts (e.g., H₂PtCl₆) are reduced using agents like sodium borohydride, hydrazine, or ascorbic acid. Surfactants or stabilizers such as PVP (polyvinylpyrrolidone) are often added to control particle size and prevent agglomeration.
Organometallic precursors are thermally decomposed in organic solvents to yield highly uniform PtNPs. This method is valued for precise control over particle morphology.
Platinum ions are reduced electrochemically onto a conductive substrate, allowing for controlled deposition and particle growth — useful for sensor and electrode applications.
Involves the use of plant extracts, bacteria, or fungi as reducing agents, offering an environmentally friendly alternative. These methods are gaining popularity due to their non-toxic nature and low energy requirements.
The chosen method significantly influences the size, crystallinity, and surface properties of the nanoparticles, which in turn affect their applications.
Platinum nanoparticles exhibit distinctive properties that differ from bulk platinum, largely due to their high surface-area-to-volume ratio and quantum size effects.
Key properties include:
The ability to tune size and surface chemistry makes PtNPs highly versatile across various sectors, from catalysis to nanomedicine.
Platinum nanoparticles are at the forefront of advanced material science due to their exceptional catalytic, electronic, and biomedical properties.
This wide array of uses makes platinum nanomaterials a central focus in emerging technologies.
While platinum is relatively inert in bulk form, nanoparticulate platinum introduces new toxicity and environmental concerns.
Ongoing research aims to improve safety profiles and establish standardized toxicity assessments to guide their responsible use.
The future of platinum nanoparticles lies in multifunctional, cost-efficient, and sustainable applications across science and industry.
As demand for clean energy and high-performance materials grows, platinum nanoparticles are expected to play a central role — although challenges in cost and material scarcity must be addressed through recycling and substitution strategies.
Platinum nanoparticles are primarily used in catalysis, fuel cells, biosensors, cancer therapy, and antimicrobial coatings. Their high surface area and reactivity make them valuable in both industrial and biomedical applications.
While generally considered less toxic than other nanoparticles, platinum nanoparticles can pose health risks if inhaled or exposed in high concentrations. Potential effects include oxidative stress and cellular damage, so safety precautions are necessary during handling and manufacturing.
Pt metal nanoparticles are used for:
The price varies significantly depending on purity, particle size, and supplier, but generally ranges from $500 to $2,000 per gram for research-grade material. Bulk pricing for industrial use can be lower, but still reflects platinum’s scarcity and processing complexity.
Platinum vs palladium: price, durability and key differencesPlatinum and palladium are both members of the platinum group metals (PGMs), sharing several characteristics such as resistance to corrosion and high melting points. However, there are key differences in their physical and chemical profiles:
Understanding these physical differences is essential when choosing between platinum vs palladium for either durability or tactile feel in jewelry or investment items.
Historically, platinum has been the more valuable of the two. However, in the past decade, market dynamics have shifted dramatically:
For investors, palladium vs platinum decisions hinge on market timing and risk appetite. Platinum offers relative price stability, while palladium carries potential for higher gains — and losses.
Both metals are durable and corrosion-resistant, but their differences affect long-term wear and care:
In terms of jewelry maintenance, platinum may require occasional polishing to restore its original sheen. Palladium’s low maintenance makes it appealing for daily wear, particularly for rings and bracelets.
For sensitive skin, both platinum and palladium are excellent choices, but there are nuances:
When choosing platinum or palladium for engagement rings or earrings — items worn daily and in close contact with skin — purity and alloy composition are crucial considerations.
The visual experience of palladium versus platinum depends on personal preference and lifestyle:
For those comparing platinum and palladium jewelry, platinum offers a weightier, classic look, while palladium appeals to minimalists and those who appreciate low-maintenance brilliance.
When considering palladium vs platinum for specific uses, goals are critical:
Jewelry:
Investment:
Ultimately, choosing palladium or platinum comes down to balancing aesthetics, usage, budget, and investment outlook.
It depends on your goals. Platinum is better for traditional luxury jewelry and long-term investment due to its durability, weight, and hypoallergenic purity. Palladium, on the other hand, is lighter, harder, and more affordable in some cases, making it ideal for minimalist or everyday jewelry. For investors, platinum offers more stability, while palladium provides higher volatility — and potentially higher returns.
Palladium is used in jewelry, especially in recent years due to rising gold and platinum prices. However, it is harder to work with than platinum, and many jewelers have limited experience casting or finishing palladium. Additionally, its volatility in price has made it a less consistent choice for mainstream jewelry production.
Some jewelers find platinum challenging due to:
However, its premium quality, durability, and hypoallergenic nature make it a favorite for high-end clients despite the challenges.
Weekly Metals News Digest – May 5 – 9Global refined copper production is projected to increase by 2.9% in 2025, reaching 28.9 million tonnes, according to the International Copper Study Group. The rise is attributed to growing output in China and the commissioning of new facilities in countries including Indonesia, India and the Democratic Republic of Congo.
In 2026, production is expected to climb by another 1.5%, bringing the global total to over 30.8 million tonnes. Meanwhile, copper demand is forecast to grow at a slower pace. Consumption is set to rise by 2.4% in 2025 to 28 million tonnes, down from a previously forecasted 2.7% increase made in September 2024. The revised figure reflects uncertainties in global trade policy and its expected impact on economic conditions.
By 2026, global copper demand may grow by another 1.8% to approximately 28.5 million tonnes. In China, which remains the largest consumer, demand is predicted to grow by 2% in 2025 and by 0.8% in 2026.
At the end of 2024, the global copper market had a surplus of 138,000 tonnes. The group expects this surplus to rise to 289,000 tonnes in 2025 and decline slightly to 209,000 tonnes in 2026. However, the organisation notes that global market conditions remain volatile and subject to change.
Japanese trading group Mitsui has signed a letter of intent with US-based EVelution Energy to secure nearly all the cobalt output from a new plant planned in Arizona. The agreement provides for the supply of 3,000 tonnes of cobalt and 19,000 tonnes of cobalt sulphate per year.
Construction of the facility is scheduled to begin by the end of 2025, with operations expected to start in 2027. The site will be powered entirely by solar energy, with excess energy routed to local farms. It is also designed to recycle 70% of its water use and produce no tailings.
According to the US Geological Survey, global cobalt mining in 2024 totalled 290,000 tonnes, with the Democratic Republic of Congo accounting for 220,000 tonnes. Indonesia mined 28,000 tonnes, Canada 4,500 tonnes, and the US only 300 tonnes. In terms of refined cobalt, 75% of the global output is produced in China, which has significant influence over global pricing through its export policies.
In 2024, US cobalt production stood at 2,300 tonnes—2,000 tonnes from recycled materials and 300 tonnes from mining. Once operational, EVelution Energy’s facility could meet up to 40% of US cobalt demand. The deal with Mitsui will also ensure cobalt supply for Japanese manufacturers of batteries and heat-resistant alloys, sectors that rely entirely on imports as Japan has no cobalt reserves or domestic refining capabilities.
The initiative is expected to reduce the dependence of both the US and Japan on Chinese cobalt, potentially curbing China’s influence in this strategic segment of the metals market.
Aluminium premiums in the United States have climbed nearly 60% since the start of the year, surpassing $900 per tonne. In contrast, premiums in the European Union have dropped by 35% to $230 per tonne.
The surge in the US is primarily the result of import tariffs introduced during Donald Trump’s presidency, including a 25% duty on aluminium from Canada, Mexico and the EU. These measures shifted global supply flows toward Europe, leading to a glut in EU markets, falling premiums and full warehouses.
Efforts by traders to profit from the price difference between the US and EU have been obstructed by the 25% US tariff, which effectively adds $600 per tonne. This, combined with logistical challenges and high transport costs, has made arbitrage unfeasible.
US buyers are left with few alternatives and are forced to accept the higher prices. The domestic aluminium industry has long suffered from high electricity costs and increased imports. In 2022, US production amounted to just 670,000 tonnes of primary aluminium and 3.6 million tonnes of secondary aluminium, while imports of various aluminium products reached nearly 5 million tonnes.
The United Arab Emirates remains the only large primary aluminium supplier exempt from the US tariffs, accounting for around 11% of imports. Some American buyers are increasingly sourcing aluminium from the UAE as a result.
High aluminium premiums in the US are expected to persist through 2025 due to continued protectionist policies and limited domestic capacity.
Glencore reported a 30% drop in copper production for the first quarter of 2025, with output falling to 168,000 tonnes. The decrease was attributed to lower ore grades and processing volumes at three mines: Collahuasi in Chile, Antapaccay in Peru, and KCC in the Democratic Republic of Congo.
Despite the weak start, the company expects production to rise in the remaining quarters and has maintained its full-year copper output target of 850,000–910,000 tonnes.
Cobalt production increased by 44% to 9,500 tonnes in Q1 2025, while zinc production rose by 4% to 213,600 tonnes. Glencore has kept its 2025 production forecast unchanged at 40,000–45,000 tonnes of cobalt and 930,000–990,000 tonnes of zinc.
Challenges persist, particularly in Australia, where Glencore has entered discussions with federal and Queensland state authorities about the future of its copper operations. The complex includes two mines, a smelter in Mount Isa and a refinery in Townsville.
In October 2023, Glencore announced plans to shut the mines by the second half of 2025 due to the increasing depth of operations—now nearing 2 kilometres—and declining profitability. The mines produce ore with a copper content of 1.5–1.7%.
The Mount Isa plant also processes third-party concentrates from northeastern Australia. Together with the Townsville refinery, the complex has a combined capacity of 300,000 tonnes of cathode copper per year. Glencore says continued operation after the mine closures will require government support.
The company notes that refining and enrichment margins have turned negative, a situation it says has not occurred in 25 years. It also points to subsidised competition from China and Indonesia as further pressure on its operations.
Tin prices on the London Metal Exchange are gradually recovering from a recent drop, currently trading at around $32,000 per tonne after peaking at $37,900.
While demand from traditional sectors like food can manufacturing continues, new applications could boost long-term tin consumption. These include environmental technologies such as water purification and carbon capture.
Certain tin-based compounds have shown the ability to remove harmful pollutants from industrial wastewater, making them safe for aquatic ecosystems. Tin catalysts are also being developed to absorb atmospheric carbon dioxide for storage, contributing to climate mitigation efforts.
In the energy sector, tin is being explored for its potential to enhance lithium-ion and sodium-ion batteries. Anode materials containing tin offer high volumetric energy density and can improve battery performance. Researchers have also developed water-based tin batteries with promising reliability.
Tin’s role is expanding in solar energy as well. At Japan’s Tsukuba University, scientists have replaced toxic lead with tin in perovskite solar cells. By introducing organic compounds into the crystal structure, they have improved the material’s resistance to oxidation and increased its stability.
These developments are expected to drive a 20% increase in global tin demand over the next decade.
Weekly Metals News Digest – 28 April – 2 MayLyten, a US-based developer of lithium-sulphur batteries, has produced a pilot batch of lithium foil using exclusively domestic raw materials. The company has fully localised the supply chain for materials used in sulphur cathodes and is now replicating this achievement for lithium anodes. This strategy eliminates dependence on foreign imports and neutralises the impact of recently announced US protective tariffs.
Lithium-sulphur batteries, which offer higher energy density and lower costs than lithium-ion alternatives, owe their advantages to the replacement of expensive cobalt or iron compounds with sulphur, and the use of metallic lithium rather than lithium-ion intercalation. These changes result in a specific energy of about 550 Wh/kg, compared to 150–260 Wh/kg for lithium-ion batteries.
As part of its growth strategy, Lyten has begun producing lithium alloy ingots, with Creative Engineers contracted to design and build the necessary equipment. The company extrudes and rolls foil from these ingots at its own facility. Sulphur, sourced as a by-product of the US oil refining and chemical industries, is readily available. Lyten has also secured domestic lithium supplies.
In December, Lyten secured $650 million in financing from the Export-Import Bank of the United States to support lithium-sulphur battery production and supply.
Global primary nickel production is forecast to grow by 5.9% in 2025, reaching 3.735 million tonnes, following an 11.1% increase to 3.526 million tonnes in 2024, according to the International Nickel Study Group. Output growth is expected in Indonesia, especially for nickel pig iron, and in China, driven by increased production of cathode nickel and nickel sulphate. However, nickel pig iron production in China is projected to decline.
Profitability challenges have led to production cuts or suspensions at several nickel facilities in Indonesia and China. Meanwhile, demand growth for nickel in electric vehicle batteries has underperformed expectations, partly due to competition from lithium-iron-phosphate batteries. Stainless steel production, however, is expanding and is expected to drive increased nickel consumption.
Global primary nickel consumption is projected to rise by 5.7% this year to 3.537 million tonnes, up from 3.347 million tonnes in 2024. Despite this growth, the market will remain in surplus, with production exceeding demand by 198,000 tonnes in 2025, up from surpluses of 179,000 tonnes in 2024 and 170,000 tonnes in 2023.
Xerion Advanced Battery has commenced pilot-scale testing of pure cobalt production using its proprietary DirectPlate MSE technology at a facility with a five-tonne annual capacity. This one-step electrolytic process converts cobalt hydroxide into pure metal, outperforming traditional multi-stage methods.
The technology, originally developed for battery component production, has gained traction amid US efforts to secure domestic raw material supplies. Laboratory tests have demonstrated cobalt yields above 98% and purity exceeding 99%. DirectPlate MSE also offers energy efficiency, a closed water system, and eliminates the need for organic solvents, reducing waste and simplifying regulatory approvals.
With the US producing only 500 tonnes of cobalt in 2023 and 300 tonnes in 2024, and amid strained relations with China—the dominant cobalt refiner—Xerion plans to scale up production to meet rising domestic demand.
Poland’s Kety Group is pursuing a dual strategy of organic growth and acquisitions, focusing on aluminium profile and structure manufacturers in the US and Western Europe. The company is evaluating potential deals cautiously and plans to finance them using internal resources.
Kety Group already operates aluminium production facilities across Poland, Ukraine, the Czech Republic, Germany, Slovenia, Romania, the Netherlands, Belgium, the United Kingdom, Hungary, and the US. It withdrew from the Russian market following the onset of the conflict in Ukraine.
With limited acquisition opportunities remaining in Poland, the company sees greater potential in the European Union and the US, where some attractive assets have yet to be consolidated by major industry players. While not currently pursuing acquisitions in China or India, Kety Group has the financial capacity to consider such moves in the future. In the past year, it reported a net profit exceeding $136 million.
The Almalyk Mining and Metallurgical Plant in Uzbekistan has begun producing rhenium using feedstock from its copper smelter. This follows years of development, including successful laboratory production of 99.9% pure rhenium in 2021. A dedicated production facility equipped with German technology now produces up to three tonnes of rhenium annually, using ammonium perrhenate as raw material.
Rhenium, a rare metal found in copper, copper-molybdenum, and uranium ores, is prized for its high melting point, chemical resistance, and catalytic activity. Global rhenium production reached 62 tonnes last year, led by Chile (29 tonnes), followed by Poland, China, South Korea, the US, and Kazakhstan.
Rhenium’s applications include heat-resistant alloys for aerospace engines, catalysts for oil refining, thermocouples, and durable electrical contacts. Its production fluctuates with the mining and processing of its host ores.
Weekly Metals News Digest – April 21-25The Indonesian government has introduced a new approach to mineral extraction taxation, now tying royalty rates to market prices. This system, which is expected to come into force soon, replaces the previous fixed rate for nickel ore mining with a sliding scale ranging from 14% to 19%, depending on price indicators set by the authorities. For ores that do not meet certain quality thresholds, a reduced royalty rate of 2% will apply, provided the material is processed into battery-grade nickel. The document also establishes lower-than-expected royalty rates for nickel matte and ferronickel, following discussions with representatives from Indonesia’s nickel sector. During public consultations, industry participants raised concerns about the effects of the new taxation model on the profitability of mining and metallurgical operations, especially in light of declining nickel prices on the global market.
These changes are part of a broader economic policy under President Prabowo Subianto, who aims to increase tax revenues to support initiatives such as free school meals. As a result, the government is seeking new sources of funding, with mineral extraction taxes seen as a significant contributor to the national budget. The move to increase royalty rates has, however, been met with criticism from industry organizations. In March, the Indonesian Mining Association urged the government to reconsider, citing a shortage of high-quality ore, rising operational expenses, and reduced company revenues. Global nickel prices have recently fallen from $16,700 to $14,100 per tonne, exacerbating concerns within the sector.
Zijin Mining Group of China has finalized its purchase of the Akyem gold mine in Ghana, elevating its position in the global gold sector from thirteenth to sixth place since 2019. This acquisition expands Zijin’s mineral resource base and operational capabilities, providing a platform for further international growth. While Zijin has traditionally focused on non-ferrous metals such as copper, lead, and zinc, it has diversified its assets in recent years by acquiring companies involved in lithium and gold mining.
Zijin plans to begin lithium ore extraction at the Manono deposit in the Democratic Republic of the Congo in 2026, marking the country’s first lithium mine. Tin was previously mined at Manono until operations ceased in 1982. The deposit, identified by Australian company AVZ Minerals, is estimated to contain 1–1.2 billion tonnes of ore with lithium oxide concentrations of 1.25–1.5%. AVZ Minerals lost its license in September 2023, after failing to secure financing following a sharp drop in lithium prices in 2022, and the license was transferred to Zijin.
In the gold sector, Zijin has set a target of producing at least 100 tonnes annually by 2028. The Akyem acquisition comes as gold prices have surged to $3,500 per troy ounce. In the first quarter of 2025, Zijin reported a net profit of $1.4 billion, a 62% increase, driven by heightened global demand for gold from both private and institutional investors amid economic uncertainty and ongoing trade tensions between the United States, China, and the European Union.
MP Materials, the only company currently mining rare earths in the United States, has halted shipments of concentrate to China. This decision follows new Chinese government measures that tighten foreign trade controls, including a 125% import duty on rare earth raw materials from the US and restrictions on exports of seven rare earth metals and their derivatives. These metals are critical for industries such as defense, electronics, and renewable energy, and the restrictions are expected to disrupt global supply chains for products like high-strength magnets and jet engine coatings.
MP Materials has determined that exporting concentrate to China is no longer commercially viable or aligned with US national interests, and is now stockpiling material to supply its expanded domestic processing plant. The trade dispute follows earlier actions by China in response to US tariffs, which included export restrictions on samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium. China has justified these controls by citing the dual-use nature of these metals, which can be used in weapons production.
In 2024, the United States produced only 1,300 tonnes of pure rare earths, with most mined ore previously exported to China for processing. China, in turn, produced about 300,000 tonnes of rare earths, supplying various countries, including the US. Rare earths are used in a range of applications, from infrared-transmitting glass and oil refining catalysts to pigments, paints, gas absorbers, and alloying agents. Elements such as neodymium, samarium, and europium are vital for manufacturing high-power permanent magnets used in electric motors, wind turbines, and computer equipment.
In France, Arverne Group has begun constructing an experimental facility to extract lithium from geothermal waters in the Lower Rhine basin. The project, initiated in 2024, began with research supported by BPI France, a joint program of the French government and the European Union. The plant’s technological equipment was developed in partnership with DG SKID.
Pierre Brossol, founder of Arverne Group, described the construction and commissioning of the pilot plant as a major step forward. The company aims to extract up to 27,000 tonnes of lithium annually from underground brines and generate up to 4 TWh of geothermal energy by 2031. Similarly, Australian company Vulcan Energy is pursuing lithium extraction from geothermal waters in Germany and has already secured supply contracts with major European automakers, including Volkswagen, Stellantis, and Renault. Vulcan Energy plans to complete a plant by the end of 2026 capable of producing 24,000 tonnes of lithium hydroxide per year, enough for 500,000 electric vehicles annually.
The European Commission’s Critical Raw Materials Act, adopted in 2023, supports lithium extraction projects, making initiatives like those of Arverne and Vulcan eligible for incentives. These projects are expected to help reduce the European Union’s dependence on lithium imports from China.
James Cameron, an American businessman and former chairman of Petropavlovsk, has formally offered to acquire 100% of Eurasian Resources Group for $5 billion. Cameron’s proposal, submitted to the company’s board of directors, outlines a financing plan involving personal funds, equity from American partners, and potential investment from Australia and the Middle East.
Eurasian Resources Group operates in the production of aluminium, copper, and cobalt, with assets including Aluminium of Kazakhstan, the Kazakhstan Electrolysis Plant, and Metakol. Metakol suspended cobalt exports in March after the Congolese government imposed a four-month export ban. The Kazakh government holds a 40% stake in Eurasian Resources Group, with the remainder owned by private investors.
Negotiations between Cameron and Eurasian Resources Group have been ongoing since late 2023, with Goldman Sachs participating as a financial advisor. If completed, the transaction would be the largest private acquisition in Kazakhstan’s mining sector in a decade and could mark the beginning of a new investment cycle in Central Asia, driven by growing demand for critical minerals and resources linked to the green economy. However, there are currently no confirmed details about the outcome of the talks. Shukhrat Ibragimov, chairman and chief executive officer of Eurasian Resources Group, has stated that no sale discussions are underway, and the Kazakh government has confirmed it does not intend to sell its 40% holding.
Weekly Metals News Digest – April 14-18Zinc prices on the London Metal Exchange have continued their downward trend since early March, currently stabilising at around $2,600 per tonne. This prolonged decline underscores growing pessimism among global market participants, who are increasingly concerned about the widening imbalance between supply and demand. One of the main contributing factors is the anticipated reduction in the production of flat galvanised rolled products and hot-dip galvanised steel structures, which are vital components in infrastructure, automotive, and construction sectors. Weak demand in these industries is casting a shadow over near-term zinc consumption forecasts.
These market anxieties were recently validated by news of an unusually low smelting fee in a contract between Canadian company Teck Resources and South Korea’s Korea Zinc. The agreed fee of $80 per tonne is the lowest seen in fifty years. For comparison, the fee reached a historic high of $300 per tonne in 2020, dropped to $159 in 2021, rebounded to $274 in 2023, and fell again to $165 in 2024. This latest figure suggests a deeply troubled pricing environment for smelting services.
Additional pressure on prices comes from increased availability of zinc concentrates, particularly from Russia and the Democratic Republic of Congo. These new flows of raw material are shrinking the global net metal deficit, which was reported to be 62,000 tonnes last year by the International Lead and Zinc Study Group. The prospect of an even smaller deficit in 2025 is weighing heavily on the market.
The demand outlook for 2025 remains muted. Sluggish activity in the global construction industry continues to limit demand for zinc-coated steel products. Compounding the situation, new import tariffs imposed by U.S. President Donald Trump have discouraged trade, adding further deflationary pressure. Zinc prices, which briefly touched $3,000 per tonne earlier in the year, have retreated by nearly 15% as a result.
If current trends persist, it is likely that sustained low prices will force some zinc producers to curtail operations, particularly those mining complex polymetallic ores with low-grade zinc content that require multi-step enrichment processes. This potential production pullback may help balance the market in the longer term, though any near-term recovery remains highly uncertain.
Two Australian companies, Cobalt Blue and Iwatani Australia, have signed a cooperation agreement to jointly advance the Kwinana cobalt smelter project, aiming to build the country’s first facility of this kind. Despite abundant cobalt resources, Australia has until now lacked domestic smelting capabilities. This agreement marks a significant step toward changing that.
The memorandum includes several key milestones leading up to a final investment decision. These include the validation of cobalt sample specifications, the securing of long-term material purchase agreements, and the formalisation of a joint venture structure. If the project proceeds, Cobalt Blue will hold 70% equity, while Iwatani Australia will own the remaining 30%.
The plant will primarily process mixed hydroxide precipitate from the Broken Hill cobalt deposit, one of the largest in the country. It may also accept feedstock from third-party suppliers to ensure year-round operation. The project’s timing is significant, following a dramatic spike in cobalt prices to $26,000 per tonne, driven by an export ban from the Democratic Republic of Congo earlier this year.
The cobalt market is relatively small, with an estimated capacity of 300,000 tonnes annually. The DRC remains the dominant player, producing 220,000 tonnes in 2024, followed by Indonesia with 28,000 tonnes. Australia’s output of 3,600 tonnes underscores the need for local value-added processing to enhance its presence in the market.
Cobalt is indispensable in the manufacture of high-strength alloys, magnetic materials, catalysts, and notably, lithium-ion batteries for electric vehicles and portable electronics. With rising global demand, establishing domestic smelting capabilities could significantly boost Australia’s role in the critical minerals supply chain.
Platinum Group Metals has been compelled to rethink its approach to the Waterberg mine project in South Africa. Under governmental pressure to keep more mineral value within the country, the company has started planning for the construction of a local smelter that will convert platinum-rich concentrate into matte.
The Waterberg mine is located in the Bushveld Complex and is expected to yield over 353,000 ounces of platinum group metals annually for up to 55 years. Capital costs are estimated at $946 million, and the project is projected to generate 1,425 permanent jobs for South African workers.
Initially, the plan was to export all 130,000 tonnes of concentrate annually to Saudi Arabia for processing. This was in line with Saudi Arabia’s economic diversification strategy, which promotes non-oil industrial development. However, the South African government insisted on domestic processing to maximise economic retention and industrial capacity building. Under the revised plan, only 8,000 tonnes of matte will now be exported to Saudi Arabia for further refining.
Ajlan & Bros Mining, Platinum Group Metals’ partner in Saudi Arabia, will handle the final stages of metallurgical processing. The revised approach not only satisfies South Africa’s policy objectives but also reduces the environmental footprint associated with raw concentrate export.
Ownership of the project is split between Platinum Group Metals (37.19%), Impala Platinum (14.86%), the HJ Platinum consortium (21.95%)—which includes Japan Oil, Gas and Metals National Corporation, Hanwa, and a Black Economic Empowerment partner—and Mnombo Wethu Consultants (26%).
India’s Adani Enterprises is close to completing the first phase of the Kutch Copper project, which will establish the world’s largest copper smelter when fully operational. The facility’s initial capacity is 500,000 tonnes per year, with $1.2 billion already invested in infrastructure, machinery, and technology.
The first delivery of copper cathodes has already been made, supported by a long-term copper concentrate supply agreement with Chile’s Codelco. Upon the successful commissioning of phase one, Adani plans to double the plant’s capacity to 1 million tonnes annually during a second phase expected to be greenlit in 2026 or 2027.
Currently, Hindalco Industries is India’s only significant copper producer, with a similar annual capacity. However, Indian copper demand, which currently stands between 1 million and 1.2 million tonnes, is projected to soar past 2.3 million tonnes by 2030.
This expected growth aligns with the Indian government’s “Make in India” initiative, which encourages domestic manufacturing across sectors. Copper demand is expected to surge in response to expanded construction, power infrastructure, electric mobility, and industrialisation.
Despite these developments, India lacks sufficient domestic copper ore reserves. Most raw materials must be imported from major exporters such as Chile, Peru, and Indonesia, leaving Indian producers vulnerable to price fluctuations and supply disruptions.
Russian scientists have created new carbon and palladium-based nanocomposites with enhanced electrochemical properties, showing strong potential for use in high-efficiency energy devices. These materials are poised to significantly improve the performance of batteries, fuel cells, and industrial catalysts.
Researchers employed plasma chemical synthesis to combine graphite and palladium powders into nanoscale composite particles. This method uses an ionised gas stream to heat and break materials into atoms, which then recombine into uniform nanoparticles with desired chemical structures.
Carbon composites are valued for their high electrical conductivity and mechanical stability, while palladium contributes excellent catalytic performance and resistance to heat. Together, these attributes create a material well-suited for next-generation electrochemical applications.
Early testing shows that the composites can accelerate electrochemical reactions, improving efficiency and reducing energy losses in devices. These advancements could benefit a wide range of technologies—from fuel cells and rechargeable batteries to environmental sensors and waste treatment systems.
Particularly notable is the presence of fullerene-like carbon forms and a high concentration of palladium oxides, both of which enhance reaction rates. Such features open up new possibilities for designing lightweight, low-cost, and durable components for clean energy systems.
The development represents a step forward in materials science and highlights the role of advanced nanocomposites in driving innovation across multiple sectors of the energy economy.
Weekly Metals News Digest – April 7-11Chinese authorities have announced stricter export regulations covering seven strategic rare earth elements: scandium, dysprosium, gadolinium, terbium, lutetium, samarium, and yttrium. Under the updated measures, companies must obtain special export licences from the Ministry of Commerce. Applicants must justify the intended usage of the materials and provide clear end-user information.
These regulations apply broadly, encompassing raw ores, refined metals, and finished goods containing any of the restricted elements or their alloys. Though not an outright ban, the move could significantly disrupt international supply chains, increasing lead times and costs for industries dependent on these materials.
The rare earths in question are vital to numerous advanced technologies. Scandium is critical in producing radio frequency modules and high-frequency filters used in 5G base stations and smartphones. Dysprosium is essential for stabilising the magnetic properties of neodymium-based permanent magnets, which power wind turbines, electric vehicles, and hard disk drives. Additionally, dysprosium finds applications in nuclear reactors and satellite shielding due to its radiation-absorbing properties.
This development reflects growing geopolitical tensions between the U.S. and China and could lead to a restructuring of global supply chains. Key sectors likely to be affected include defence, electronics, aerospace, renewable energy, and automotive. Companies may face added pressure to develop alternative material sources or pivot toward different technological pathways that reduce reliance on Chinese rare earths.
Barrick Gold, historically one of the world’s leading gold mining companies, has unveiled a significant rebranding initiative to become Barrick Mining. This rebranding reflects its increasing focus on copper, a metal critical for global electrification and energy transition efforts.
This strategic shift is grounded in the results of feasibility studies for two major copper projects. In Zambia, the company plans a $2 billion expansion of the Lumwana mine. The project will involve building a second open-pit operation, effectively doubling Lumwana’s copper output to 240,000 tonnes per year. Barrick also envisions increasing production to 450,000 tonnes annually over the longer term, while extending the mine’s life by three decades.
The second flagship initiative is the development of the Reko Diq copper-gold deposit in Pakistan. This will be executed in two stages. Phase one, due by 2028, requires $5.5 billion in investment and will yield 200,000 tonnes of copper and 240,000 ounces of gold annually. Phase two aims to double copper output by 2030, further boosting Barrick’s copper portfolio.
Barrick is also eyeing expansion into new geographies. It is actively reviewing opportunities in Saudi Arabia and exploring early-stage projects in Chile, Peru, Ecuador, and the U.S. The company’s pivot toward copper coincides with Glencore’s decision to shutter two deep Australian copper mines by late 2025 due to rising costs and operational challenges, creating space for Barrick to expand.
Lithium prices remain under pressure globally. In March 2025, the price of lithium carbonate in China fell by 2% from February to $10,200–$10,500 per tonne. Spodumene concentrate declined 4.7% to $820–840 per tonne, reflecting a continuing market imbalance caused by oversupply.
This price drop followed the resumption of production after the Lunar New Year and highlights a longer-term trend: for more than two years, lithium has been in surplus, eroding profitability across the industry. Fixed-price contracts have largely been replaced by variable agreements based on spot market indices, with discounts narrowing to 0–2% in 2025 from 5–10% in 2024, pointing toward market stabilisation.
Despite the soft pricing environment, global lithium investments are accelerating. UBS reports a 25% increase in lithium sales in 2024 and projects another 15% rise in 2025. General Motors has pledged $625 million to the Thacker Pass project in partnership with Lithium Americas. Rio Tinto, meanwhile, is investing $2.5 billion in Argentina’s Rincon project and recently acquired Arcadium Lithium to boost its lithium asset base.
These investments are driven by expectations of future supply shortfalls. According to the International Energy Agency, global lithium demand could outpace supply by more than 150,000 tonnes by 2030. However, current oversupply is likely to persist through at least 2027. Meanwhile, favourable weather conditions are sustaining lithium extraction from brines, keeping supply high and limiting upward price momentum.
Altona Rare Earths, a UK-based mining company, has reported the discovery of unusually high concentrations of gallium at its Monte Muambe project in Mozambique. The metal, found in fluorite-rich rock formations, reached concentrations as high as 232 grams per tonne—a notable finding, as gallium is rarely associated with fluorite mineralisation.
Monte Muambe is known for its fluorspar and rare earth element potential. Gallium appears to have been deposited in fluorite veins during the cooling of a carbonatite intrusion and associated hydrothermal activity. A scoping study is now underway to assess the viability of extracting both fluorspar and gallium from the site. Preliminary expectations suggest a straightforward process involving mechanical crushing and gravity separation.
Gallium is typically obtained as a by-product of bauxite or zinc ore processing. Global production is limited to around 760 tonnes annually, with China responsible for approximately 750 tonnes. Japan, South Korea, and Russia account for the remainder. A strategic gallium plant in Greece, with a projected annual capacity of 50 tonnes, has recently received EU support.
Gallium is used extensively in LED manufacturing, semiconductor production, and high-efficiency charging systems. It also has niche applications in nuclear reactor cooling, mercury-free thermometers, and metal bonding agents. In the EV sector, gallium is seen as a potential game-changer due to its superior heat dissipation and electrical properties.
Japanese companies such as Mazda and Rohm Semiconductor are investing in gallium-based components to create lighter, more efficient electric vehicles. In parallel, Australian scientists have developed a palladium-gallium catalyst capable of accelerating chemical reactions by 10,000 times, potentially enabling novel applications in CO2 conversion and wastewater treatment.
The U.S. government’s imposition of 25% tariffs on imported aluminium is impacting the electronics sector. In response, Intel has updated its procurement policies, now requiring all suppliers to disclose the full origin history of aluminium used in components, including the country of smelting and casting.
This measure is designed to ensure compliance with U.S. customs regulations and prevent trade violations. Intel has circulated formal declaration forms to its suppliers and emphasised that accurate sourcing is vital for maintaining continuity in electronics manufacturing.
The aluminium tariffs have increased input costs across multiple industries. For electronics manufacturers, which use aluminium in structural frames, heat sinks, and thermal enclosures, the tariffs are pushing up component costs. These cost increases are now affecting product pricing and supply chain strategies.
Notably, Taiwanese electronics firm Asus is reportedly exploring relocating PC manufacturing to the United States to bypass tariffs, even though it may increase unit costs. This move reflects broader reshoring trends prompted by shifting trade policies, supply chain security concerns, and geopolitical dynamics.
In this environment, companies across sectors must navigate rising material costs, sourcing complexities, and changing regulatory landscapes as they adjust to the new realities of global trade.
Weekly Metals News Digest – March 24-28Global copper production increased by 2% year-on-year in January 2025 to 1.905 million tonnes (pure metal), with concentrate output rising by 2.9% and electrolytic recovery declining by 0.9%, according to the International Copper Study Group. Output rose in Peru (+7%), the Democratic Republic of Congo (+6%), and Asia (+3%), but fell in North America (-2%) and Chile (-2.7%) due to operational challenges at several major mines, including equipment failures and environmental restrictions.
Refined copper production grew by only 1% to 2.382 million tonnes in the same period, with output from ores rising by 0.9% to 1.987 million tonnes and from scrap by 1.3% to 395,000 tonnes. Production constraints, particularly in Chile, limited growth and further exposed vulnerabilities in the supply chain. With copper smelting facing bottlenecks in several regions, concerns are rising that future increases in demand may not be adequately met without significant new investment in processing facilities.
Consumption rose marginally by 0.5%, with increased demand in Asia, North Africa, and the Middle East offsetting weaker usage in the U.S., Japan, and the EU. In particular, expanding construction activity in Southeast Asia and electrification projects in Egypt and Saudi Arabia provided upward pressure. However, tepid industrial recovery in Europe and declining manufacturing activity in Japan kept global demand from rising more sharply. The resulting global deficit for January was estimated at 19,000 tonnes.
Mercuria Energy Group forecasts that copper prices may rise by as much as 30%, driven by the possible introduction of U.S. import tariffs. The U.S. Department of Commerce is investigating the national security implications of copper imports, prompting exporters like Trafigura, Glencore, and Gunvor to accelerate shipments and stockpile copper in U.S. warehouses. By the end of March, up to 150,000 tonnes could arrive in the U.S., reinforcing strategic stockpiles.
Meanwhile, scrap exports from the U.S. have declined, and domestic buyers are exploring alternatives in Latin America. If tariffs are imposed, U.S. prices could rise sharply, potentially leading to regional imbalances, with U.S. inventories building while the rest of the world faces shortages. Copper prices on the London Metal Exchange may rise to $13,000 per tonne in the near term, a level not seen in over a decade. Some analysts also anticipate increased speculative trading and longer-term hedging, further fuelling price volatility.
Anglo American Platinum (Amplats) is set to become an independent entity named Valterra Platinum by the end of May 2025. The name change is expected to be approved at Anglo American’s annual general meeting on May 8. This restructuring marks a significant step in Anglo American’s realignment strategy, with the aim of concentrating on commodities with more consistent long-term growth outlooks.
The move follows Anglo American’s strategic shift to focus on iron ore, copper, and fertilisers. Post-spin-off, Anglo American will retain only a 19.9% stake in Valterra Platinum and will not hold any board seats. Valterra will seek a listing on the London Stock Exchange to attract new investors, particularly those with a high-risk appetite and interest in the platinum group metals sector.
Amplats’ production challenges and falling platinum and palladium prices influenced the decision. In 2024, Amplats cut output by 7% to 110.5 tonnes, while EBITDA fell 19% to $1.1 billion. Net profit declined by 40% to $464 million due to a 13% drop in the platinum basket price. The company has also struggled with rising operational costs and regulatory hurdles in South Africa, which have hampered its efforts to maintain stable output levels.
The rebranding to Valterra Platinum is also aimed at distancing the company from its previous reliance on automotive sector demand, which has been declining amid the shift toward electric vehicles. The new entity is expected to expand its focus to include alternative platinum uses in hydrogen technologies and industrial catalysts.
President Donald Trump has signed an executive order titled “Immediate Measures to Increase Mineral Production,” aimed at boosting domestic extraction of critical minerals such as rare earths, uranium, copper, gold, and others. The policy is intended to reduce reliance on foreign mineral imports by ensuring reliable and affordable domestic supply chains, particularly amid escalating geopolitical tensions and trade restrictions.
The order mandates the identification of mineral-rich federal lands and prioritises their leasing and development. Agencies are required to deliver site lists within 10 days and identify suitable extraction sites within 30 days. Funding will be sourced from the Department of Defense and other military agencies. Environmental assessment processes may be fast-tracked under this initiative, a move likely to face pushback from conservation groups.
The executive order invokes the Defense Production Act, reflecting the administration’s recognition of U.S. vulnerability in critical mineral supply chains. The U.S. Geological Survey’s 2022 critical materials list includes 50 minerals, including aluminium, cobalt, zinc, titanium, beryllium, and tin. Many of these are vital to the production of semiconductors, renewable energy technologies, and advanced defense systems.
Rare earth metals remain a key concern, with the U.S. exploring opportunities for access in Ukraine, Russia, and African countries. Addressing this strategic challenge will likely require substantial public funding. Discussions are also underway about creating a national stockpile of critical minerals, following models used for oil and strategic metals during previous periods of geopolitical tension.
Boeing and Airbus are advancing the use of thermoplastic composite materials and robotic assembly in aircraft production to improve manufacturing efficiency. Thermoplastics offer benefits such as reheatability, reshaping capabilities, and ultrasonic welding, enabling faster production and lighter, seamless structures. They also enable reductions in the number of fasteners and joints, thus improving overall structural integrity.
The goal is to reduce reliance on aluminium and titanium in future aircraft, though there are hurdles. Certification of welded components, maintenance complexities, and end-of-life recycling remain significant challenges. Composite parts are difficult to repair, and current recycling methods are undeveloped compared to metals like aluminium and titanium, which can be remelted and reused.
Moreover, the economics of scaling thermoplastic composite production remain uncertain. Capital expenditures for new production lines are high, and suppliers must ensure material consistency and quality. Despite these obstacles, industry analysts expect composite usage to increase steadily, particularly in new generation regional aircraft and lightweight drones.
After two years of decline, lithium prices may rebound to $15,000–20,000 per tonne by 2028, supported by anticipated growth in electric vehicle (EV) demand. Global EV sales could reach 55 million units over the next five years, spurring lithium consumption. This resurgence is expected to be driven by lower battery costs, government subsidies, and increasing infrastructure for EV charging networks worldwide.
In 2023, global lithium use rose 27% to 180,000 tonnes, though demand remains uneven. The U.S. is heavily reliant on imports from Argentina and Chile. Industry leaders are warning that unless domestic mining projects are accelerated, supply gaps could hinder energy transition targets set by U.S. policymakers.
New technologies may improve lithium supply efficiency. Direct lithium extraction from brines offers high recovery rates (up to 98%) and reduced environmental impact compared to traditional evaporation methods. French company Adionics has also developed a technology to extract high-purity lithium from recycled batteries without generating toxic waste. These innovations could reduce the need for new mining projects in the long term.
In addition, several U.S. and European start-ups are piloting small-scale lithium refining facilities that aim to supply local battery manufacturers directly. This regionalisation trend may help mitigate future supply chain disruptions and promote more sustainable practices across the lithium value chain.
