Shift to electric vehicles won't render PGMs redundant in automaker space

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Platinum is used in catalytic converters to reduce emissions from internal combustion engines.
Platinum is used in catalytic converters to reduce emissions from internal combustion engines.

The market penetration of battery electric vehicles won't sound the death knell for internal combustion engines, said Steve Phiri, CEO of Royal Bafokeng Platinum.

Phiri and other industry leaders such as Impala Platinum CEO Nico Muller and Bernhard Fuchs, senior vice president at Umicore, participated in a virtual discussion hosted by asset manager Ninety One on Friday. They shared views on the outlook for Platinum Group Metals (PGMs) as the world embarks on a transition toward low carbon economies.

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