Canada doesn't have much in the way of palladium production. However, the country plays host to some exploration activity and does produce a small amount of the metal.
Strikes at the operations of South Africa's major platinum miners, along with the news that the United States is prepared to enact trade sanctions on Russia, pushed palladium to an 11-month high yesterday.
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Frank Holmes, CEO of US Global Investors, says the growing demand for fuel-efficient cars, along with supply disruptions, will cause platinum-group metals to trade higher in 2014.
Stockhouse reported today that North American Palladium (TSX:PDL) shares fell 16.04% to $0.445 per share after the release of preliminary production results for the first quarter of 2014.
Ivanhoe Mines Ltd. (TSX:IVN) announced yesterday that it has received a positive preliminary economic assessment (PEA) for its Platreef project, which is located in South Africa's Bushveld Complex.
North American Palladium Ltd. (TSX:PDL,NYSEMKT:PAL) provided an update on the mineral reserve and resource estimates for its Ontario-based Lac des Iles mine property. It also released updated information about its life of mine plan for the property.
Ivanhoe Mines Ltd. (TSX:IVN) announced that drilling at its South Africa-based Platreef project has intersected a "thick zone of high-grade mineralization." The zone is located in a new extension of the Flatreef platinum-palladium-nickel-copper-gold-rhodium discovery.
Bloomberg reported yesterday that palladium prices dropped the most in nine months following news of talks moving forward in an ongoing labor dispute between workers and South African miners. NYMEX palladium futures for June delivery fell 3.6 percent, to $777.80 an ounce, early in the afternoon.
Bloomberg reported today that palladium prices rose to their highest level since 2011 in New York.
Although platinum and palladium saw price drops on Monday, CNBC has pointed to a broader 5-percent jump in year-to-date platinum futures prices as well as a 7-percent price jump for its sister metal.
Frik Els of Mining.com reported that palladium prices lost close to 3 percent on Monday while platinum prices decreased by more than $20 per ounce. According to Mining.com, prices for the metals are not reacting as expected to supply squeezes from Russia and South Africa, especially in light of revived demand from the European automobile industry.