Sprott PHYsical Plat & Pall

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Odisha Mining Corporation Ltd (OMC) has successfully conducted a trial run of a platinum group minerals (PGM) pilot plant in Bhubaneswar, marking a significant advancement in India's strategic minerals sector. This pilot plant, developed in collaboration with IMMT and South Africa’s Mintek, aims to extract platinum group elements (PGEs) from ore sourced from Bangur chromite mines. The initiative is crucial for India's self-reliance in critical minerals, reducing import dependence, and could open new revenue streams for the state, which holds over 98% of India's chromite reserves. OMC recently reported its highest-ever mineral production and revenue.

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OMC, Mintek pilot plant enables platinum group element extraction in India

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Spot palladium rose 3% to $1,566.15

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Platinum futures have dropped to around $1,900 an ounce, retreating from a two-week high due to a stronger US dollar and profit-taking after recent gains. The decline is influenced by President Trump's speech regarding the Middle East conflict, which did not provide a clear resolution timeline. Additionally, concerns over inflation and tighter monetary policies, alongside weakening automotive demand and increased recycling, are impacting platinum prices. The shift towards electric vehicles is further reducing demand for platinum in catalytic converters, despite a market deficit.

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GraniteShares Platinum Trust

Platinum Eases from 2-Week High

Sprott PHYsical Plat & Pall(SPPP.US)

OMC, Mintek pilot plant enables platinum group element extraction in India

Spot palladium rose 3% to $1,566.15

Platinum Eases from 2-Week High