Australia's biggest palladium miners are generally explorers and developers like Chalice Mining (ASX: CHN), notable for its massive Julimar project, and Podium Minerals (ASX: POD), targeting significant PGM deposits; while Southern Palladium (ASX: SPD) focuses on a major asset in South Africa, making these key players in the Australian PGM scene for future supply, rather than large current producers.
Russian mining company Norilsk Nickel (MCX:GMKN) is the world's largest palladium producer, and it plans to invest US$35 billion in infrastructure upgrades between 2021 and 2030, which will ultimately result in higher metals output.
Legacy Minerals and its joint venture partner Earth AI, a predictive explorer for clean energy metals, have unearthed one of Australia's largest palladium mineral systems utilising artificial intelligence (AI) technology.
Palladium has one notable characteristic working in its favor compared to other precious metals. It's much rarer than gold or silver, which can potentially drive up the price through imbalances in supply and demand. The downside, however, is that palladium prices tend to be more volatile than gold or silver prices.
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Founded in 1995 and based in Johannesburg, South Africa, Anglo American Platinum is the world's largest platinum-mining company – with production output of just over two million ounces in 2019. The company is a subsidiary of UK-based mining giant Anglo American.
Southern Palladium Limited's current share price is $2.41.
Mount Whaleback Mine in Western Australia, was the largest mine in Australia, producing approximately 88.8 million metric tons per annum (mmtpa) of Run-of-Mine (ROM) in 2021. The Mount Whaleback Mine is owned by BHP;Mitsui & Co Ltd;Itochu Corp, and is due to operate until 2037.
In fact, a range of forces was at play that led to the mine's closure, from economic and environmental pressures to a dwindling supply of unmined diamonds.
Palladium prices are down mainly due to decreasing demand from the automotive sector (driven by the shift to electric vehicles and substitution with platinum), reduced fears of Russian supply disruptions, and broader economic factors like profit-taking and a stronger dollar, with ongoing substitution by automakers keeping prices suppressed despite some supply deficits. While palladium saw a rally in 2025, the long-term trend reflects lower industrial need and easier substitution.
The world's leading producers are Nornickel (Russia), Implats (South Africa), Anglo American Platinum (South Africa), Sibanye-Stillwater (South Africa & USA), and North American Palladium (Implats) in Canada. These five accounted for over 60% of total production in 2025.
For palladium, the median 2026 forecast in the Reuters' poll was $1,262.50 an ounce, up from $1,100 in the previous poll and the 2025 expected average of $1,106.
The 100%-owned Gonneville Project has a tier-1 scale Resource containing approximately 17 million ounces of platinum group metals (PGMs), 960 thousand tonnes of nickel, 540 thousand tonnes of copper and 96 thousand tonnes of cobalt, making it the largest PGM discovery in Australian history.
Yes, analysts generally expect platinum prices to remain strong or go higher in 2026, driven by persistent supply deficits, increased industrial demand (especially for hydrogen and shifting auto demand), and its role as a safe haven, although some forecasts suggest a more balanced market with potential for price volatility. Supply constraints in major mining regions (like South Africa) and rising investor interest are key factors supporting price increases, despite some predictions of increased recycling supply.
With Gina Rinehart at the helm of Hancock Prospecting, the Roy Hill iron ore mine has generated stellar revenues. That wealth creation not only made her Australia's richest person, but has also built a powerful war chest from which Rinehart is expanding her mining empire.