Local PGMs industry at risk, but service provider optimistic

South Africa – which accounts for about 80% of the global platinum-group metals (PGMs) reserve – is at risk of receiving less valuable foreign exchange, owing to ever-increasing mining costs and the uncertainty created by the socio-political strife on the local platinum belt, states South African foundry and engineering company Thos Begbie CEO Edwin Dreyer. He says that South Africa’s economic dependence on fickle commodity prices is compounding this risk.