And just a 3 hour and 20 minute car ride away....
I think they may be a very interested party.
Supply
Palladium is a rare precious metal. There are very few palladium-producing regions worldwide and few known economically viable ore bodies.
Growth in mine supply is constrained, largely owing to:
- Political, infrastructure and cost issues in South Africa;
- Relatively constant palladium production in Russia; and
- The very small number of new projects on the horizon in the near future.
Demand
Demand for palladium continues to rise, driven primarily by the growing global automotive sector that consumes nearly 80% of the world’s supply. Palladium is a key component in catalytic converters in both gasoline-powered and hybrid vehicles, which help reduce toxic emissions to protect the environment.