Johnson Matthey, Barclays and Norilsk Nickel believe the depletion of Russia's palladium stockpile is imminent, a claim that has been made in earlier years. Is the end really upon us this time?
Palladium has many diverse applications — it is used for industrial and medical purposes and can even be found in jewelry.
Absa Capital's platinum exchange-traded fund has achieved much success since its launch earlier this year.
Palladium fell into a slump midway through August, but most analysts agree that it is still set to perform well this year.
Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) has identified its next steps towards securing funding for its 75% owned Serra Pelada gold-platinum-palladium Mine. The Colossus board of directors have decided to review the Company’s strategy, and will be ceasing underground development for the time being as they focus on de-risking the project as well as decrease overall cost.
Bloomberg reported that North American Palladium Ltd. (TSX:PDL,NYSEMKT:PAL) does not know why its share price sank by 27 percent two days ago. Phil du Toit, the company's CEO, maintains that the company is "working hard" to get financing.
MetalMiner reported that CIBC believes North American Palladium Ltd.'s (TSX:PDL,NYSEMKT:PAL) future doesn't look particularly bright, largely due to the fact that a slow ramp up at the company's Lac des Iles mines has left it in need of more cash.
Colossus Minerals Inc. (TSX:CSI,OTCQX:COLUF) has appointed David Massola as Interim Chief Executive Officer effective November 15, 2013.
International Business Times reported that according to Norilsk Nickel (MCX:GMKN), sales from the Russian government's "secret" palladium stockpiles could come to an end by 2014.
Nanowerk News reported that chemical engineers at Rice University have found that engineered nanoparticles of gold and palladium are more efficient at breaking down nitrites, "a common and harmful contaminant in drinking water," than any of the other catalysts they have studied previously.
Reuters reported that yesterday, spot palladium's 50-day moving average was set to break above its 200-day moving average, "a highly bullish formation known as a golden cross." The movement suggests that the metal has room to rally in the next six months or so.
Bloomberg reported that today, palladium futures for December delivery rose 0.4 percent, to $719.50 per ounce, after earlier sinking to $713.30, their lowest price since October 17.