A precious metal found in SA mines surges - and it's not gold - it's palladium

Palladium is going up to close to 2100 dollars an ounce.

Electric cars like Elon Musk's Tesla are driving a surge in the precious metal palladium - mainly available in limited supply from mines in South Africa and Russia.

Across the mining board platinum is also getting a lot of attention .

Palladium is a byproduct of platinum mining.

Peter Major, Director of Mining - Mergence Corporate Solutions, makes sense of it all.

Palladium works fantastically well in catalytic converters in cars that burn petrol. the whole world has moved to more stringent vehicle standards. Palladium works the best.

Peter Major, Director of Mining - Mergence Corporate Solutions

When these things move, the sky's the limit. Even the platinum shares. This index today is only a third of where it was in 2007/2008.

Peter Major, Director of Mining - Mergence Corporate Solutions
Tesla's Model 3 electric sedan. Picture: www.teslamotors.com.

Listen to the full interview below.

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