Our two primary metals are platinum and nickel.

Platinum:

Platinum's future is secure with consumption likely to quicken from the 7% per annum recorded between 2002 and 2007 as the role of PGMs in automotive catalysis advances in response to tightening environmental regulation worldwide. Growth in consumption will largely be satisfied by the 26 new South African projects scheduled to come on stream in the years to 2014. Their total output is likely to rise to an annual 3 million ounces by that year.

Much of this production increase will come from mines that exploit the chrome-rich UG2 reef, problematic for conventional smelting but easily processed using the new ConRoast technology over which Braemore has exclusive licence. Also, ConRoast is ‘greener’ than conventional smelting which is characterised by high sulphur dioxide emission levels.

Nickel:

Latest estimates for the past year indicate that the world’s nickel consumption has increased by 25% since 2002 and that China alone has absorbed about 90% of the total demand growth, according to Lehman Brothers. At present, China absorbs some 25% of the world’s nickel production. Lehman’s view is that, while the US economy is likely to slow down, affecting demand for nickel, this will be offset by continuing strong demand from China.