Record Platinum deficit 23/24 -POD AUS largest Plat resource

https://www.*****.com/news/2023-05-23/Record-platinum-deficit-of-1-million-ounces-expected-for-2023-as-demand-surges-and-supply-is-at-risk-WPIC.html


https://investingnews.com/wpic-platinum-market-forecast/

The platinum market slid into deficit in Q1 for the first time since 2021's second quarter.

In itslatest report, the World Platinum Investment Council (WPIC) ascribes the 392,000 ounce Q1 deficit to strong demand and supply limitations, saying that it's now calling for a 2023 deficit of 938,000 ounces, up 77 percent from its previous projection.

In a conversation with the Investing News Network (INN), Edward Sterck, director of research at WPIC, shared details about the sectors driving platinum demand and what factors are weighing on supply for the precious metal.

More Platinum than CHN .... and thats just Park reef down to 250m .... could well extend 2km !!!!

6MOz PGM5 resource to 250m ... 1km 20Moz ++

POD SP has been smashed over the last 12months .... TAX loss selling will continue till late JUNE ...

IMHO at some point POD is going make a lot of sense to one of the may Doz major PGM refiners of the world ....WA close to Asian markets



More than 70 percent of the world’s platinum supply comes from theBushveld Complexin South Africa’s Transvaal.....

“We think this is the first year of serial deficits in the platinum market,” said Standard Chartered analyst Suki Cooper.

However, Cooper said prices could weaken in the short term before supply risks worsen later in the year.

South Africa produces 70-75% of mined platinum supply. Miners there have said rolling power cuts could cut their output by 5-15% this year, Cooper said, adding that Russian production may also disappoint.

“We’re now entering the winter period in South Africa and getting more frequent alerts on power outages,” she said. “The market is concerned.”

Demand from the auto industry — the biggest consumer of platinum — should rise by 8% this year as vehicle production increases, said StoneX analyst Rhona O’Connell.

O’Connell forecasts a 900,000 ounce deficit in the roughly 8 million ounce a year platinum market this year. The WPIC predicts a shortfall of around 500,000 ounces.

Investors also hope that large amounts of platinum will be used in the production and use of hydrogen.

But analysts at Macquarie said this could take years. “In our base case, the sector (across fuel cells and PEM electrolysers) would account for around 220,000 of demand in 2030 but be approaching 2 million ounces by 2040,” they wrote in a note.

https://www.iglobenews.org/power-cuts-and-power-corrupts/

South Africa finds itself in its worst energy crisis in decades with daily rolling blackouts throwing the country into economic and social disorder. The former CEO of the main public utility company ESKOM alleges that high-level corruption is the driver behind the crisis. These allegations have sparked a to-and-fro that is beginning to engulf South African politics.

Despite being the continent’s leading economy, South Africa is struggling to keep its lights on. As of 2023, the country finds itself in the midst of a serious energy crisis with both companies and individuals experiencing blackouts lasting up to 10 hours on an almost daily basis. This is because the public utility company ESKOM – which generates up to 95% of South Africa’s electricity – has responded to the lack of energy supply by carrying out so-called “load-shedding”, whereby they deliberately shut down parts of the grid on a rotational, scheduled basis.

With businesses struggling to function and investor confidence severely hit, most economists are predicting that South Africa will experience no growth in 2023 and may even fall into a recession. Furthermore, the crisis has threatened the country’s often fragile social order, as citizens have taken to the streets in a series of protests.

.....
POD 5yr chart ...
ASX AUD Platinum ETF.. also 5yrs ?