Palladium jewelry will be marketed to the United States and China, the Palladium Alliance International said Thursday.
The decision was made to develop a marketing program for the white precious metal following a study involving PAI, independent consultants, and the International Platinum Group Metals Association.
Norilsk Nickel, the largest producer of palladium, will lead the effort, supported by the major palladium producers in South Africa (Anglo Platinum, Impala Platinum, and Lonmin) and the United States of America (Stillwater Mining Company), PAI said in a statement.
The objective is to establish a clear and specific brand position for palladium in jewelry which, in partnership with the jewelry designers, manufacturers, and retailers in the hopes of achieving a sustainable palladium jewelry market with growth opportunities.
This follows a platinum jewelry development program supported by the South African platinum producers since 1975. The platinum program is led by Anglo Platinum and it will continue. Norilsk Nickel and Stillwater Mining Company will be supporting the platinum program.
Both platinum and palladium jewelry market development, will be funded by the same group, but will be managed by separate organizations. A new individual brand identity will be developed for palladium jewelry.
The key Platinum Group Metal producers said in the statement that they believe this to be “an important strategic development for the industry, both cementing the market position for platinum jewelry and significantly enhancing the value of palladium as a jewelry metal in its own right.”