About Platinum

Platinum is both an essential and precious metal and is part of the six member family of platinum group metals (PGMs) which also includes palladium, rhodium, iridium, osmium, and ruthenium. These metals are known for their purity, high melting points and ability to stay stable at high temperatures. In addition to their oxidation and reduction properties, they are also extremely resistant to corrosion.

Currently platinum is utilized in a number of industrial processes, technologies and commercial applications. Its unique chemical and physical properties, make platinum an excellent raw material, catalyst or ingredient for manufacturing processes. Consumer and industrial items made with platinum and other pgms include such items as flat panel monitors, glass fibre, medical tools, computer hard drives, nylon and razors, among others.

Automotive catalytic converter applications are the largest current users of PGMs and this demand is growing. These devices treat the exhaust before it leaves your car, reducing pollutants. As more jurisdictions around the world implement higher clean air standards, the demand for platinum from automobile makers is expected to increase as well, although some manufacturers have begun to turn to lower-cost palladium for this function.

Interestingly, though, the higher demand for diesel-powered vehicles due to increasing energy costs is expected to fuel still more demand for platinum. New auto catalyst requirements in the medium and heavy-duty truck markets are expected to offset the substitution for palladium in automobile manufacture.

Platinum, of course, retains its status in the high-prestige jewelry markets. This use accounts for about 20% of all platinum production at this point, with excellent demand in newer markets like China, Japan and India.

Both platinum and palladium continue to be very rare and much of the world's platinum production comes from the small Western Bushveld - 550 square kilometres that account for over 70% of the world's supply.