South Africa woos US and China with platinum
South Africa is leveraging its position as the world's dominant platinum supplier to improve relations with both Washington and Beijing. The US and China both seek platinum group metals for industries ranging from automotive and defense to green hydrogen and data centers. Washington has imposed a 30% import duty on South African goods, while Beijing has scrapped levies on South African imports entirely.
Why it matters: This illustrates how critical minerals are becoming a central lever in geoeconomic competition between the US and China.