Since the start of this year, the price of palladium – a silvery-white metal primarily found in South Africa and Russia – has jumped by more than 22%. In a single day, on Friday, the price increased by $150 an ounce. On Monday, it continued its rally – gaining more than 3%.
It’s now 80% more expensive than a year ago and, since 2016, the palladium price has rallied by more than 400% – from $450/oz to more than $2,300.
Why is palladium in such hot demand?
Palladium has special qualities which allows it to help turn toxic gases into water vapour and other less-dangerous gases.
Jubilee Metals Group plc (LON:JLP) is a diversified metals recovery company, they secured surface platinum-bearing tailings to recover PGMs and chromite, lead, zinc and vanadium bearing tailings in Zambia and holds the mining right to a primary PGM project in the Eastern Bushveld complex.
