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Spot Price of Palladium at all Time High of USD 1781 per ounce

Mining News - Published on Tue, 22 Oct 2019

Image Source: forbes.com
Ivanhoe Mines Co-Chairmen Robert Friedland and Yufeng Miles Sun announced that the spot price of palladium has reached another all-time high of USD 1,781 an ounce. Recent increases in the price of palladium, nickel, rhodium and gold has resulted in the weighted price of the basket of metals contained in the ore at the Platreef palladium-platinum-rhodium-nickel-copper-gold project to rise to a new, multi-year high.

Palladium, nickel and rhodium have been three of the best performing metals in 2019. The platinum-to-palladium ratio at Platreef is approximately 1:1, and Platreef has remarkably high concentrations of nickel and copper. At current prices, palladium and nickel comprise more than 60% of the weighted price of the 'basket' of metals in Platreef's ore. Rhodium and gold also add significant contributions to Platreef's contained metal valuation.

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Posted By : Rabi Wangkhem on Tue, 22 Oct 2019
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