Iridium (Ir)

Iridium is the rarest PGM in industrial use. Bushveld smelters are the mine. Electrolyser anodes are the new offtake.

PEM hydrogen demand collides with a by-product supply. That is a classic offtake-first Build, not a spot market.

Geo

Mine, process, refine.

ISO	Country	Role	Note
ZA	South Africa	Mine	Bushveld PGM split
RU	Russia	Mine	Norilsk — screen

Forms

Uses

Same origins

Same corridor