Commodities

South African-Owned Palladium Mine in Canada to Close in 2026

A red hot palladium ingot in the foundry at a metals plant. — A red hot palladium ingot in the foundry at a metals plant.
Photographer: Andrey Rudakov/Bloomberg

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By Chaimae Chouiekh

July 8, 2025 at 9:50 PM UTC

Low palladium prices are forcing Impala Platinum Holdings Ltd. to shut down its mine in Canada, putting 750 jobs at risk.

The Lac des Iles mine is about 1,500 kilometers (930 miles) northwest of Toronto.