Southern Palladium Limited Details Its South African Expansion Plans
Southern Palladium Limited Details Its South African Expansion Plans. It has been reported that Australian company Southern Palladium Limited has made an offer to raise $19 million ( around R215 million) as it moves to the Johannesburg Stock Exchange (JSE) next month.
Southern Palladium Limited is an Australian public company which is in the process of acquiring a 70% interest in the Bengwenyama palladium/rhodium dominated PGM project located on the Eastern limb of the Bushveld, South Africa. Platinum Group Metals have strong catalytic properties – meaning they can accelerate or trigger a chemical process without themselves being permanently changed or consumed. Manufacturing of catalytic converters for use in exhaust systems in internal combustion vehicles represents the largest use of these metals.
Both platinum and palladium are used in autocatalysts to reduce tailpipe emissions from light vehicles, buses, and medium- and heavy-duty trucks – helping to improve air quality. Platinum and palladium are also used for investment, to a limited extent. The company will be acquiring 70% of Miracle Upon Miracle Investments Proprietary Limited whole the remaining 30% will be owned an investment company owned by the Bengwenyama-ya-Maswazi community.
Southern Palladium aims to enter the mining industry through this acquisition and therefore fully expand to the South African market, it aims to cease all other operations so that it can fully focus its expansion so that it can have a huge impact in the industry.
