Palladium is a chemical element discovered in 1803. One of the platinum group metals (PGMs), along with platinum, rhodium, ruthenium, iridium, and osmium, it is a rare silvery-white metal with the lowest melting point and the least density of the group. Ore deposits of palladium are found in only three regions: Russia, South Africa and North America. The Russian and South African mines produce by-product palladium from nickel or platinum mining, whereas, North American Palladium is a primary producer.
Palladium is used in numerous industries and is essential to our modern way of life in its applications in technology, medicine, dentistry, and electronics. Its primary use, however, is in the manufacture of catalytic converters.
Because the automobile industry consumes nearly 60% of the world’s palladium in the manufacture of catalytic converters, the demand for palladium continues to increase. With stricter vehicle emission controls, increased vehicle production in China, India and Brazil, and advances in the use of palladium for diesel catalytic converters, the value of palladium continues to rise.
Investors interested in North American Palladium will find NAP trading on the NYSE Amex under the symbol PAL and on the TSX under the symbol PDL.
Don’t miss these interested stories: http://rruff.geo.arizona.edu/doclib/cm/vol35/CM35_817.pdf