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South Africa woos US and China with platinum

Summary by Semafor
Africa’s biggest economy is leveraging its role as the world’s dominant platinum supplier to forge ties with Washington and Beijing.

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South Africa holds over 80% of the world's platinum group metal reserves and is using this to make offers to the US and China: to have the US set up a smelter and to promote hydrogen energy cooperation with China. Platinum has allowed South Africa to avoid US tariffs, but it has not been able to withstand the continuous diplomatic pressure from Washington.

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Semafor broke the news in New York, United States on Monday, September 21, 2026.
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