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South African copper thieves are screwing up the future of electric vehicles
Posted on 5/21/22 at 8:10 am
Posted on 5/21/22 at 8:10 am
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quote:
South Africa is by far the world’s largest producer of platinum, a precious metal that is among the rarest on Earth, and extremely valuable to the electronics industry.
The country holds over 80% of the world’s platinum reserves, but its mines are battling an unlikely problem that threatens to hit the industry hard: thievery.
For years, mining companies in South Africa have been at war with increasingly well-organized crime syndicates that target the country’s lucrative mining industry, especially mines for rare-Earth metals such as platinum.
quote:
Copper theft in platinum mines could disrupt the supply of a material that is in increasingly high demand around the world, especially for its applications in the electric car industry.
quote:
Both mining companies and the South African government have attempted to crack down on illegal mining for years, sometimes with fatal consequences. Last year, eight illegal miners were killed in a shootout with police above a mine in South Africa’s North West province.
During the COVID-19 lockdowns of the past few years, copper theft accelerated, with gangs becoming more sophisticated and organized. Some have even started their own schools to teach new members how to steal copper and other metal.
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