The Platinum

Platinum is a rare, precious metal, like gold and silver, non-magnetic, pure, good conductor of heat and electricity.

It requires no maintenance, is resistant to corrosion and oxidation and is unalterable. Its density is higher than that of gold.

Its very high melting temperature allows it to withstand extreme heat conditions. It is ductile and malleable: platinum can be stretched without breaking.

Its properties are used in industry, particularly automotive, energy, jewelry

Each year 16 tonnes of platinum are extracted, compared to 1500 tonnes of gold.

Platinum Minerals - photo credit Aucoffre.com

A bit of history
Pre-Columbian civilizations produced some platinum objects. The metal was brought back to Europe from Central and South America in the 16th century by the Spanish, who believed it to be silver = plata , of lesser quality, small silver = platina

In nature it is found in the form of nuggets or mixed with other minerals

Platinum nuggets are quite rare, occurring in alluvial areas: this is how Spanish explorers discovered them in the waters of the Rio Tinto, in what would become Colombia.

Platinum is mainly present in the form of flakes, particles or grains in the earth's crust, mixed with other minerals and raw materials: nickel and copper, iron, iridium, rhodium, palladium, etc.

Platinum Ingot - photo credit Rosland.fr

Where are the platinum deposits located?

South Africa is home to most of the world's platinum mining production.

In 2022 alone, the country produced 70.9% of the world's platinum.

Russia is another major producer, although it is far behind South Africa. This is followed by Zimbabwe (502,000 ounces) and North America.

In 2022, 1,899,000 ounces of platinum were used worldwide to make jewelry, according to figures from the World Platinum Investment Council.

For comparison, the automotive industry's demand represented 2,897,000 ounces of platinum in the same year.

Platinum Mineral - photo credit AuCoffre.fr

Like gold and silver, deposits tend to become scarcer and more difficult to mine.

It takes about 10 tons of ore mined and worked to produce 30 grams of platinum .