SBSW - Sibanye-Stillwater Explores Use Cases For Rare Metal The Auto Sector Needs Less Of | Benzinga
Precious metal producer Sibanye-Stillwater (NYSE:SBSW) is exploring palladium applications within the hydrogen market.
“Over the longer term, demand for palladium in the automotive sector is expected to decrease, creating an opportunity to consider new applications for the metal," said Sibanye-Stillwater CEO Neal Froneman.
Palladium is a rare metal that’s used to reduce harmful emissions from vehicles. Within the catalytic converters, it facilitates the conversion of toxic gasses, such as carbon monoxide and nitrogen oxides into less harmful substances like carbon dioxide.
Nowadays, palladium is seeing a drop in demand as more automakers shift to electric vehicles, or EVs. Prices for the metal recently fell below platinum’s for the first time since 2018. Palladium also faced a significant price ...