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Global platinum mining industry - statistics & facts

Platinum is a gray-white colored precious metal. It has many important applications, most notably for autocatalysts, jewelry, and chemicals, in addition to several other industries that use platinum to a lesser degree. Autocatalysts accounted for over 41 percent of global platinum demand as of 2022, making it by far the largest application. Platinum is highly resistant to corrosion, among other desirable traits, and thus its value is somewhat comparable to gold. For instance, platinum's average price as of March 2023 was 998 U.S. dollars per troy ounce, while the average price of gold in that month was 1,862.40 U.S. dollars per troy ounce. Global production of platinum amounted to an estimated 190 metric tons in 2022, with African production accounting for approximately 155 metric tons of that amount.

The leading platinum producers in the world

The largest platinum producing country by far is South Africa, having produced an estimated 140 metric tons of platinum in 2022. Russia is the second-largest platinum producing country in the world, with a significantly lower production of an estimated 20 metric tons in that year. Anglo American Platinum is one of the world's largest platinum producing companies, with a production of some 1.78 million ounces of platinum in 2022.

Platinum group metals

Platinum group metals (PGMs), also called platinoids, refers to six precious metals that share similar physical and chemical properties and which tend to be found in the same mineral deposits. The PGMs are palladium, ruthenium, rhodium, osmium, iridium, and of course platinum itself. The majority of the world's PGM supply comes from mine production, but autocatalyst scrap is another significant source. Palladium is the most prominent PGM after platinum, with global palladium production amounting to 210 metric tons in 2022.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Jan 11, 2024

Key insights

Global platinum group metal reserves
71k mt
Leading global platinum mining country
South Africa
U.S. mine production of platinum
2.9 mt
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Editor’s Picks Current statistics on this topic

Reserves of platinum group metals worldwide in 2023, by country (in metric tons)

Precious Metals

Platinum-group metal reserves worldwide 2023, by country

Leading countries based on mine production of platinum worldwide in 2023 (in metric tons)

Precious Metals

Global platinum mine production 2023, by country

Average global platinum closing price from 2016 to 2024 (in U.S. dollars per troy ounce)

Precious Metals

Average platinum price 2016-2024

Further recommended statistics

Overview

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Overview

Production

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Production

Trade

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Demand

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Demand

Companies

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Companies

Price

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Price

Further reports

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Precious metals worldwide
Precious metals worldwide
Platinum industry worldwide
Platinum industry worldwide
Mining industry in South Africa
Mining industry in South Africa
Mining industry in Africa
Mining industry in Africa
Precious metals as an investment
Precious metals as an investment

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