Platinum Use In Electric Cars

IBTimes reported on the use of platinum in catalytic converters which reduce noxious emissions form internal combustion engines are a big source of demand for platinum.

As quoted in the market news:

The chemistry of the catalytic converter is fascinating, but beyond the scope of today’s Daily Reckoning.

We mention platinum because it’s a precious metal. That means it’s hard to find. One place you find a lot of it is in South Africa. But South Africa also finds itself in the middle of a big mining dispute. The strikes at some of South Africa’s biggest platinum mines have already triggered a worry about supply, which in turn has triggered a 24% rise in spot platinum prices since mid-August.