The rand value of catalytic converter exports has increased by almost R5 billion over the past year, it has been revealed.

Preliminary figures from the South African National Association of Automotive Component and Allied Manufacturers (Naacam) have shown that the value has risen to R14.3 billion to November 2006, from R9.9 billion the previous year.

Naacam's Executive Director, Roger Pitot, explained that high platinum prices were one of the main reasons behind the growth, as the precious metal forms an important part of the vast majority of autocatalysts.

The South African government announced last week that it would provide more clarity on mining beneficiation later this year, which will add further value to raw materials such as platinum and platinum group metals (pgms).

South Africa’s Minerals and Energy Minister, Buyelwa Sonjica, last week promised greater clarity for the industry and such a move is likely to result in the value of autocatalysts increasing even further over the months ahead.

Ÿ Adfero Ltd