According to CoinMeta, mining company Valterra is reportedly in informal talks with South African miner Northam Platinum Holdings to discuss a potential deal. If the transaction is completed, it could create the world's largest supplier of precious metals. Northam stated on Tuesday that it had received contact from a major South African producer of platinum group metals, and the company's stock price soared as a result. Northam mentioned that the approach from this unnamed company was not sought by them and is currently only exploratory in nature and not binding. South Africa is the world's largest supplier of platinum group metals, which are mainly used in exhaust purification systems for fuel-powered vehicles, jewelry, and other industrial applications. Northam has a market value of about $7.6 billion and is one of South Africa's largest producers of platinum group metals.