The blogs that I wrote today, entitled, "Russia Is In Charge!" and "There's a Big Problem Brewing!" simply distill to an issue of geopolitical risk in the Platinum Group Metal market.
Russia is the most strategic player, with massive reserves of Platinum Group Metals that the world needs. And South Africa, that also has huge reserves is facing significant power issues, labor issues, and ongoing challenges relating to mining businesses functioning in a government and society that is left of center.
And within this construct, Russia clearly has abundant power and no labor issues, and now that the Stillwater, Montana PGM mine is no longer owned by US entities (a large stake was first sold to the Russian company, Norilsk, and the entire mine was ultimately purchased by the South African company, Sibanye-Stillwater) there is a question that percolates to the surface for me. "What does that suggest for the future PGM risk profile?" PGMs, are after all, industrial, precious, and strategic.