The Biggest Winner From a Rise in Precious Metals
- Impala Platinum valuation suggests further gains are possible
- South African miner is about to start union wage negotiations
The winding gear and main buildings stand at the Impala Platinum mine in Rustenburg.
Photographer: Nadine Hutton/Bloomberg
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The world’s best-performing precious-metals stock is up almost 90% this year, and there are signs the rally could run even further.
Impala Platinum Holdings Ltd. has outpaced 87 global peers with a market value of at least $1 billion in 2019, data compiled by Bloomberg show. The South African miner has benefited from surging palladium and rhodium prices, along with any weakness in the local currency, which bolsters its income from sales of dollar-based metals.