Sibanye Stillwater projects a 15% decline in global mined platinum output by 2034. An executive announced the forecast on June 23, 2026. Global production is expected to fall to 4.7 million ounces. This marks a decrease from the 6.2 million ounces produced in 2019.
South African miners currently provide 70% of global supply. These producers are avoiding new investments due to long-term demand uncertainty.
Sibanye estimates electric vehicles (EVs) will represent 35% of global car sales by 2034. This projection is lower than many other industry estimates. Slower EV adoption supports demand for platinum used in internal combustion engine autocatalysts.
Palladium production is also forecast to decrease by 15% over the same period.