5 Top Platinum and Palladium Producing Countries

Mining & Minerals - Evaluations / Other Metals

Date posted: 01/19/16

Platinum-group metals (PGMs) are prized for their resistance to corrosion, durability and excellent catalytic properties. These characteristics make PGMs useful in everything from jewelry making to industrial and electronics applications, according to the U.S. Geological Survey (USGS). Today, the automotive industry is the largest consumer of these metals, which are used in catalytic converters for vehicle exhaust systems. Automotive production is expected to climb in coming years, particularly in developing markets, and that is expected to ensure healthy demand for PGMs into the future. While the lion share of the PGMs are produced in South Africa and Russia, there are a few other countries that chip into platinum and palladium production as well. Here are the top five platinum- and palladium-producing nations for 2014, as per data from the USGS.... 1. South Africa Platinum production: 110,000 kilograms Palladium production: 60,000 kilograms 2. Russia Platinum production: 25,000 kilograms Palladium production: 81,000 kilograms 3. Canada Platinum production: 7,200 kilograms Palladium production: 17,000 kilograms 4. Zimbabwe Platinum production: 11,000 kilograms Palladium production: 10,000 kilograms 5. United States Platinum production: 3,650 kilograms Palladium production: 12,200 kilograms Stillwater Mining Company is the only producer of PGMs in the U.S. It owns the Stillwater mine and East Boulder mine. Together, these mines were responsible for almost $495 million worth of metals production in 2014, according to the USGS. The company also maintains a smelter, refinery and laboratory in Montana and recovers PGMs from spent catalyst material. In the fourth quarter of 2014, Lundin Mining began production at the Eagle mine in Michigan. While the mine primarily produces nickel and copper, it also puts out PGMs as a by-product.