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Where is platinum found in the world? Actually, 97% of the world’s platinum comes from 5 countries. In this article we thoroughly break down the top 5 largest platinum producing countries continue that will dominate the global platinum market in 2018, representing over 97% of the world’s total platinum production every year, while South African has once again maintained its title as the world’s largest platinum producer and the number one platinum exporter this year. Known as one of the rarest, prettiest and most corrosion-resistant metals in the world, platinum has been in increasingly high demand across various of industries, particularly jewelry, automotive, medical and scientific applications etc. As global demand shows no sign to reduce, it’s expected that the global platinum market will experience a stronger growth over the near future, boosted by the rising production from these top platinum producers in the world.
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Due to its several notable advantages, including being dense, malleable, and highly unreactive grey-white, platinum is widely used in catalytic converters for automotive and is also prominently used to make jewelry products. According to a recent report from the World Platinum Investment Council, the global platinum mining production improved 1% year-on-year to 6,110 thousand ounces (koz) or 173.2 metric tons in 2017. In addition to the 1,905 koz recycled platinum output, the global platinum supply totalled 8,015 koz or 227.2 metric tons in 2017.
Meanwhile, the global platinum demand recorded 7,765 koz or 220.1 metric tons in 2017. China is currently the largest platinum consuming market in the world, with over 2,300 koz platinum demand in 2017. Following China in platinum demand is all of Europe. It is forecasted that platinum demand worldwide will amount to some 8,650 koz by 2021, driven by the growth of downstream sectors such as automotive industry, jewelry industry, and chemical industry.
So which country has the most platinum?
|Rank||Country||2017 Platinum Mining Production (koz)||2017 Platinum Mining Production (metric tons)|
|5||The United States||137||3.9|
South Africa is the largest platinum producing country in the world by a significant margin. With an annual platinum production of around 130 metric tons over the last decade, South Africa accounts for nearly 70% of the world’s total platinum output. According to the latest report from South Africa’s Chamber of Mines, the platinum industry in South Africa generated about $8bn in sales in 2017 and employed more than 175,000 people, making it one of the largest economic contributors to the countries prestigious mining industry. Currently, South Africa has the world’s largest deposits of platinum.
Russia comes in a distant second place in the list of the top platinum producers in the world, having produced 20.3 metric tons of platinum in 2017. Zimbabwe follows behind as the third largest platinum producing country, however, it only produces about half as much as Russia. Canada and the United States are the world’s fourth and fifth largest platinum producers respectively. Together, North America represents around 7.3% of the world total platinum production every year.
When it comes to the top platinum producers in the world, Anglo American Platinum is leading the way as the largest platinum producer in the world. In 2017, Anglo American Platinum produced 2, 400 koz of platinum. Impala Platinum Holdings is in second place with over 1,000 koz platinum production annually. Other top platinum producers in the world include Lonmin Plc, Russia’s Norilsk Nickel, and Northam Platinum ltd.