Low palladium prices are forcing Impala Platinum Holdings Ltd. to shut down its mine in Canada, putting 750 jobs at risk.
The Lac des Iles mine is about 1,500 kilometers (930 miles) northwest of Toronto.
Impala Canada expects to end production by May 31, 2026, chief executive officer Timothy Hill told workers in an email seen by Bloomberg News, but “the final date of operations is dependent on several factors, including available tailings capacity and our ability to meet production targets.”
“We’ve been in a prolonged period of low prices, and as a result, the business is not generating the cash flow required to sustain the operation despite the team’s strong performance,” an Impala Canada spokesperson said Tuesday in an email.
The price of palladium — a metal mostly used to curb emissions from gasoline vehicles — has fallen over the past three years because demand from auto…
