Platinum Group Metals Signs MOU for Saudi Smelter Development
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 12 2026
0mins
Source: Globenewswire
- Significant Price Increase: Sibanye-Stillwater reported an 88% year-on-year increase in its U.S. PGM operations' 2E basket price for Q1 2026, leading to an adjusted EBITDA of $48 million, illustrating the substantial impact of supply-shock economics on its income statement.
- Saudi MOU Signed: Platinum Group Metals has signed a Memorandum of Understanding with Saudi Arabia's Ajlan & Bros and the Ministry of Investment to support the development of a PGM smelter and base-metal refinery, aligning with Saudi Vision 2030 and potentially enhancing its competitiveness in the global PGM market.
- U.S. Supply Issues Intensify: The U.S. Department of Commerce estimates a dumping margin of 828% on unworked Russian palladium imports, a figure significant enough to rewrite North American import economics, as approximately 95% of U.S. palladium consumption relies on imports, highlighting the strategic importance of non-Russian, non-South African PGM supply.
- Skaergaard Project's Huge Potential: Greenland Mines' Skaergaard Project hosts 17.15 million ounces of palladium according to the 2022 NI 43-101 report, equivalent to 13 to 15 years of U.S. palladium consumption, and under high-price scenarios, the indicated and inferred palladium-equivalent resources rise to 16.58 million ounces and 21.92 million ounces respectively, underscoring the project's significance in future markets.
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Analyst Views on HL
Wall Street analysts forecast HL stock price to rise
7 Analyst Rating
2 Buy
4 Hold
1 Sell
Hold
Current: 15.430
Low
16.00
Averages
23.93
High
36.50
Current: 15.430
Low
16.00
Averages
23.93
High
36.50
About HL
Hecla Mining Company is a silver producer in the United States and Canada. It discovers, acquires and develops mines and other mineral interests and produces and markets concentrates containing silver, gold, lead, zinc and copper; carbon material containing silver and gold, and unrefined dore containing silver and gold. Its segments include Greens Creek, Lucky Friday, and Keno Hill. Greens Creek operation is located on Admiralty Island, near Juneau, Alaska. The Greens Creek property includes over 440 unpatented lode mining claims, 58 unpatented mill site claims, 21 patented lode claims and one patented mill site. Lucky Friday mine is a deep underground silver, lead, and zinc mine located in the Coeur d'Alene Mining District in northern Idaho. The Keno Hill unit is located in the central Yukon Territory, Canada, and covers an area of approximately 15,000 hectares in central Yukon. The total Hecla Keno Hill mineral claims cover an area of approximately 238.12 square kilometers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Retail Sentiment Shift: Despite the sharp drop in silver prices, retail sentiment around iShares Silver Trust (SLV) on Stocktwits shifted from neutral to bullish, indicating a resurgence of investor interest in silver, which reflects expectations for a future rebound.
See More
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See More
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- Divergent Manufacturing Data: The U.S. June manufacturing PMI unexpectedly rose to 55.7, surpassing expectations, indicating economic resilience; however, the Richmond Fed manufacturing survey fell to 4, suggesting challenges in the economic recovery that may influence Fed policy.
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