Tharisa agrees $130 million debt facility with Absa, Société Générale

The partnership would fall under the MINER program funded by the DOE via the Advanced Research Projects Agency.

Nornickel is the world's largest producer of palladium and refined nickel.

The power outages could cut South Africa’s output of platinum-group metals by a fifth this year.

The mining industry has been struggling to hit production targets, hurt by everything from floods and droughts to creaking infrastructure and political instability.

Currently, the company produces 200,000 tonnes of copper and 25,000 tonnes of cobalt annually at the mines across the central African copper belt.

Neal Froneman said he had "moved on" from the idea he floated two years ago of merging Sibanye with its South African peers.

In a production update, Impala said it had lost an estimated 38,000 refined PGM ounces, nearly 3% of total refined output.

The company said refined PGM production from its operations was 3.831,1 million ounces in 2022, down from 5.138,4 million ounces the previous year.

Over the years, the country has struggled to attract significant foreign investment.