SBSW - Sibanye CEO sees $2000 platinum ahead as automakers switch in

The price of platinum could climb another 80% over the next 4-5 years as the global economy recovers and supply dwindles, Sibanye Stillwater (SBSW) CEO Neal Froneman tells Bloomberg.Platinum has has nearly doubled from an 18-year low in March, but the metal "only just started to re-rate and it will continue," Froneman says. "There is no reason why platinum will not eventually trade at $2,000/oz. and probably even higher."Platinum will be supported by its increasing use in hydrogen fuel cells, while automakers in China and North America are starting to switch the metal in for more expensive palladium in autocatalysts, the Sibanye CEO says.Froneman is not alone in his optimism for platinum: ABN Amro senior metals strategist Georgette Boele thinks the metal could trade at $1,500/oz. in 2022, well above the current $1,100 level.ETFs: [[PPLT]], [[PALL]], [[PLTM]], [[PTM]], [[PGM]]The favorable commodity price environment is highly beneficial for Sibanye-Stillwater, which can dramatically cut

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Sibanye CEO sees $2,000 platinum ahead as automakers switch in