By Tadiwa Jery
Palladium is one of the metals under the platinum group of metals which is mostly used in catalytic converters in car exhausts. It converts toxic pollutants such as carbon monoxide into less-harmful carbon dioxide and water vapor.
The growing acceptance of environmentally friendly practices in the car manufacturing industry has led to the increase in demand of palladium from car makers. This has been one of the major reasons its price per ounce has increased.
The prices of the white metal was also pushed due to its projected scarcity. According to a Bloomberg article, Metal Focus indicated that the metal’s supply has been in deficit since 2012.
One of the largest platinum mining company in Zimbabwe, Zimplats, which is a subsidiary of one of the world’s largest producers of platinum group metals based in South Africa, Impala Platinum Holdings Limited, has recorded an increase in the production of the metal since 2012.
With high demand and an efficient capability to maintain the supply, Zimbabwe is set to benefit from the production of palladium for many years to come.
