|Anglo American Platinum creates Iridium shortages In November South African based, Anglo American Platinum (JSE: AMS, OTCMKTS: NGLOY), had to close its plant due to a series of water leaks. The facility is now closed for a full rebuild in 2021. Unfortunately, this closure led to an iridium supply shortage, just as demand was growing.|
An analyst at German technology group Heraeus said:
“Iridium has the longest processing time of all the PGMs, so supply is set to be impacted (by the Amplats closure) well into 2021, providing support for sustained high prices,” South Africa produces 80-85% of the world’s iridium. This makes Anglo American Platinum a major producer. It also processes material for other miners, causing supply chain issues for several companies.