|Characteristic||Reserves in metric tons|
How much platinum does South Africa have?
South Africa is the world’s leading platinum producing country. In 2018, mine production of platinum in South Africa reached around 4.3 million ounces.
Platinum production in South Africa from 2010 to 2019 (in 1,000 ounces)
|Characteristic||Production in thousand ounces|
How much of the worlds platinum does South Africa produce?
List of countries by platinum production
|Rank||Country/Region||Platinum production (kilograms)|
Which country has the largest platinum reserves?
1. South Africa. South Africa is the world’s top platinum-mining country and a major producer of palladium. It holds the largest-known reserves of PGMs globally at 63 million kilograms, and currently extracts a whopping 75 percent of the planet’s platinum.
How much platinum is mined each year?
Around 6 moz (190 metric tons) of platinum is mined worldwide each year, compared to 108 moz (3,300 metric tons) of gold, with 72 per cent of annual platinum production coming from South Africa.
Why is platinum valuable to South Africa?
The contribution of platinum to GDP
Because South Africa exports the greatest part of its platinum production, and because exports are a final demand and therefore do not form part of the production process, platinum, on its own, is not a significant direct contributor towards the gross national product.
Who owns the platinum mines in South Africa?
The mine is jointly owned by Anglo American Platinum (AQPSA) and Anglo American Platinum (Amplats), under a 50:50 pooling-and-sharing (PSA) agreement that was signed in 2005. AQPSA is the operator of the mine. Marikana is AQPSA’s second operating mine in South Africa.
Who owns most of the world’s platinum?
Anglo Platinum in South Africa is the world’s largest platinum producer. A subsidiary of Anglo American, the company processes nearly 40 percent of all newly mined platinum annually. The Anglo Platinum precious metal refinery (PMR) is located near two of the largest platinum mines in the world.
Where is Platinum mostly found?
The majority (about 80 percent) of platinum is mined in South Africa. Approximately 10 percent is mined in Russia, and the rest is found in North and South America, according to the U.S. Geological Survey.
What is platinum worth?
Live Metal Spot Price (24hrs) Jun 03, 2021 at 23:05 EST
|Platinum Spot Prices||Today||Change|
|Platinum Price / Oz||$ 1,167.91||-38.35|
|Platinum Price Per Gram||$ 37.55||-1.23|
|Platinum Price Per Kilo||$ 37,549.18||-1,232.98|
Which country is rich in platinum?
1) South Africa – 110mt
South Africa is the world’s largest producer of platinum, processing 110mt in 2018. The country’s reserves of platinum group metals (PGMs) stands at 63,000mt.
Why is platinum price rising?
Autocatalyst maker Johnson Matthey said Wednesday that it expects platinum’s share of demand to increase after a 15-year decline. The gain will mostly be driven by higher demand from heavy-duty Chinese vehicles, though a recovery in car production generally will boost demand for all platinum-group metals, it said.
How much platinum is in an asteroid?
A Caltech study put the cost of an asteroid-mining mission at $2.6bn – perhaps not surprisingly the same estimated cost of NASA’s erstwhile ARM. It might sound a lot, but a rare-earth-metal mine has comparable set-up costs of up to $1bn and a football-field-sized asteroid could contain as much as $50bn of platinum.
What is the rarest metal on earth?
The rarest stable metal is tantalum. The rarest metal on earth is actually francium, but because this unstable element has a half life of a mere 22 minutes, it has no practical use.
Which country has most diamond?
Diamond industry worldwide
Russia and the Botswana hold the world’s largest diamond reserves, totaling 650 million carats and 310 million carats, respectively, as of 2019. Based on production volume, Russia and Australia are the world’s largest producers.
Is Platinum toxic to humans?
Health effects of platinum
Platinum is a noble metal. The concentrations of platinum in the soil, water and air are very minimal. … Finally, a danger of platinum is that it can cause potentiation of the toxicity of other dangerous chemicals in the human body, such as selenium.