Implats will close its Lac des Iles palladium mine in Canada by mid-2026, according to a company representative, this decision was conditioned by

A long period of low prices for platinum group metals (PGMs).

The mine accounted for about 3% of global palladium supply in 2024, so its planned closure could lead to an increase in market shortages in 2026 to more than 5% of demand, which is a favorable factor for palladium market sentiment. This may also affect the sales market for Norilsk Nickel products.