demand exceeds supply
In addition to gold, platinum belongs to one of the most important metals of the global market. At the same time it is one of the rarest metals, 30 times rarer than gold.
Apart from the store-of-value function and processing of jewelry, platinum has an industrial function.
At the present time platinum is used especially for the production of catalysts for diesel vehicles while palladium is mainly used in catalysts for petrol engines.
significant industrial applications
- pen nibs
- medical implants
- heating resistors
- spark plugs
- fuel cells
192 tonnes have been produced in 2011.
66,000 tonnes eligible expenditure of platinum group metals (PGM*) has been estimated in 2011.
*PGM = platinum group metals (platinum, palladium, iridium, osmium, rhodium, ruthenium).