After soaring 200% in 2019, an index of Johannesburg-traded platinum stocks has maintained its blistering pace at the start of the new year, buoyed by record prices for the palladium the miners dig up alongside their main product.
The FTSE/JSE Africa Platinum Mining Index jumped 4.9% Wednesday, taking its advance this year to 6.5%, as palladium touched an all-time high above $2 100 an ounce, driven by strong consumption from carmakers, tight supplies and haven demand for precious metals.