Where is platinum located
The precious metal platinum
| Platinum is a gray-white, heavy and flexible precious metal. As it is extremely resistant to corrosion, it is mainly used in the jewelry industry, for the production of catalysts and dental implants. |
The world's largest platinum producer is South Africa, followed by Russia. Smaller occurrences can be found in the USA and Canada. It is noteworthy that only in South Africa is the precious metal platinum mined in pure platinum mines. Metals similar to platinum are osmium, palladium, rhodium and ruthenium.
The Indians used this precious metal even before the discovery of South America. The name "platinum" is derived from the Spanish word "plata" (silver). Since platinum, like gold, did not tarnish in a fire, it was often used for gold counterfeiting, and the Spanish government then issued an export ban. Since the melting point of platinum is 1772 degrees Celsius, it could not be melted until the 19th century, when hydrogen was available.
Nowadays, pure metallic platinum is almost not mined any more, with the exception of South Africa. Platinum is mostly mined as a by-product in copper and nickel mines. Since demand exceeds production, a large part of the demand is offset by recycling.
In addition to the jewelry industry, platinum is also used for pacemakers, heating conductors, fuel cells, thermocouples and pens.
Platinum is also used in the pharmaceutical industry as a drug in chemotherapy against cancer.
The majority of annual production, however, goes to the automotive industry, since platinum is an indispensable catalyst.
Since platinum is far less common than gold, it also has a high value retention and is often used for this in the jewelry industry.
More than 10 percent of platinum is used in the computer industry to make hard drives. Since the demand for platinum has exceeded supply for several years and due to the new emission standards of the Eu, rising platinum prices must continue to be expected.
The existing shortage of platinum is mainly due to the automotive industry and could only be compensated for by Russia producing larger quantities and selling them on the world market.
Worldwide annual subsidies in tons
South Africa 140
In recent years, the precious metal platinum has enjoyed great popularity among investors, as it is, like gold and silver, a safe haven in times of financial crisis.
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