Geopolitical Analysis : Wild Palladium Rally [Ukraine Crisis]

• A. Element
  

1. Palladium is a chemical element with the symbol Pd and atomic number 46.
2. It is a rare and lustrous silvery-white metal.
3. It is discovered in 1803 by the English chemist William Hyde Wollaston.

• B. Platinum group metals (PGMs)
  

1. Palladium, platinum, rhodium, ruthenium, iridium, and osmium form platinum group metals (PGMs).
2. They have similar chemical properties.
3. But, palladium has the lowest melting point and is the least dense of them.

• C. Application of palladium
  

1. Catalytic converters (convert as much as 90% of the harmful gases in automobile exhaust into harmless substances)
2. A key component of fuel cells in which hydrogen and oxygen react to produce electricity, heat, and water.
3. Dentistry
4. Medicine
5. Hydrogen purification
6. Chemical applications
7. Groundwater treatment
8. Jewelry
9. Electronics

• D. Occurrence
  

1. Russia
- Norilsk Nickel: 39% of the world's production
2. South Africa
3. Canada
4. U.S

• E. Palladium producers
  

1. Norilsk Nickel (MCX: GMKN, LSE: MNOD), palladium powder, and ingots
2. North American Palladium (NYSE: PAL), Canada's largest producer of palladium operating the Lac des Iles palladium mine near Thunder Bay, Ontario.
3. Stillwater Mining (NYSE: SWC), a major North American palladium miner in Montana.