Atomic properties
Market data
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Raw material sources & pricing
| Raw Material Form | Grade/Quality | Price Paid by Refiners | Major Sources | Notes |
|---|---|---|---|---|
| Merensky Reef Ore | 4-6 g/t PGMs | $140-200/MT ore | South Africa | Primary PGM source, easier to process |
| UG2 Reef Ore | 4-7 g/t PGMs | $160-250/MT ore | South Africa | Higher chromite content, complex processing |
| Platreef Ore | 3-5 g/t PGMs | $120-180/MT ore | South Africa | Lower grade, significant nickel/copper |
| PGM Concentrate | 60-200 oz/t PGMs | $18,000-60,000/MT | All regions | Flotation concentrate for smelting |
PGM Ore - Primary Raw Material
Current Market Price: $900-1,100/oz platinum content (varies by ore grade) Major Global Reserves: South Africa: 63,000 MT (88% of world reserves) - Bushveld Complex Russia: 3,900 MT (5.5% of world reserves) - Norilsk deposits Zimbabwe: 1,200 MT - Great Dyke USA: 900 MT - Stillwater Complex 2025 Production Leaders: South Africa: 110 MT (72% of global production) Russia: 22 MT (14% of global production) Zimbabwe: 15 MT (10% of global production) Canada: 7 MT (4.5% of global production) Raw Material Form Grade/Quality Price Paid by Refiners Major Sources Notes Merensky Reef Ore 4-6 g/t PGMs $140-200/MT ore South Africa Primary PGM source, easier to process UG2 Reef Ore 4-7 g/t PGMs $160-250/MT ore South Africa Higher chromite content, complex processing Platreef Ore 3-5 g/t PGMs $120-180/MT o
⚠️ Seawater Platinum Extraction
Commercial Viability: NOT ECONOMICALLY VIABLE Concentration: 0.00015 ppb (parts per billion) - extremely trace amounts Chemical Form: [PtCl6]2- and Pt-organic complexes Status: No commercial seawater platinum extraction exists. The extraordinarily low concentration (150 parts per quadrillion) makes extraction impossible with current technology. Note: Would require processing approximately 200 billion liters of seawater to extract 1 gram of platinum.
Production cost analysis
| Cost Component | $/oz Platinum | % of Total Cost | Notes |
|---|---|---|---|
| Mining Operations | $450-600 | 35-40% | Deep underground mining (up to 2km) |
| Ore Processing & Concentration | $200-300 | 15-20% | Crushing, milling, flotation |
| Smelting & Base Metal Refining | $180-250 | 14-17% | Matte smelting, converting |
| PGM Refining | $120-180 | 9-12% | Chemical separation, purification |
| Labor & Administration | $150-200 | 12-14% | Skilled workforce requirements |
| Total Production Cost | $1,100-1,530 | 100% | Compare to selling price: $950-1,050/oz |
Energy consumption breakdown
| Process Stage | Energy Consumption | % of Total Energy | Energy Type | Key Operations |
|---|---|---|---|---|
| Mining (Underground) | 68 GJ/kg | 40% | Electricity | Drilling, blasting, hoisting, ventilation |
| Ore Processing | 34 GJ/kg | 20% | Electricity | Crushing, grinding, flotation |
| Smelting | 51 GJ/kg | 30% | Coal/Electricity | Flash/electric furnace smelting at 1400°C |
| Refining | 17 GJ/kg | 10% | Natural Gas/Electricity | Chemical processing, electrorefining |
Mining Energy Details (40%)
Rock Breaking: 12% - Drilling and blasting Material Transport: 10% - Conveyors and hoisting Ventilation: 8% - Air circulation in deep mines Pumping: 5% - Water management Support Services: 5% - Lighting, cooling
Refining Energy Details (10%)
Dissolution: 3% - Aqua regia processing Precipitation: 2% - Chemical separation Calcination: 2% - Thermal decomposition Electrowinning: 2% - Final purification Waste Treatment: 1% - Environmental compliance
Commercial forms & specifications
| Product Form | Chemical Formula | Molecular Weight | Typical Purity | Price Range (USD/g) | Main Applications |
|---|---|---|---|---|---|
| Platinum Sponge | Pt | 195.084 g/mol | 99.95-99.99% | $31-35 | Catalyst preparation, jewelry |
| Platinum Bar/Ingot | Pt | 195.084 g/mol | 99.95%+ | $30-33 | Investment, industrial use |
| Platinum Wire | Pt | 195.084 g/mol | 99.95-99.99% | $35-45 | Thermocouples, electrodes |
| Platinum Sheet/Foil | Pt | 195.084 g/mol | 99.95%+ | $38-50 | Laboratory equipment, electrodes |
| Platinum Black (powder) | Pt | 195.084 g/mol | 99.9%+ | $40-55 | Catalysts, fuel cells |
| Chloroplatinic Acid | H2PtCl6·6H2O | 517.92 g/mol | 37.5% Pt | $45-60 | Catalyst precursor, plating |
| Platinum(II) Chloride | PtCl2 | 265.99 g/mol | 73.3% Pt | $50-70 | Catalyst synthesis |
| Platinum(IV) Chloride | PtCl4 | 336.90 g/mol | 57.9% Pt | $48-65 | Chemical synthesis |
| Cisplatin | PtCl2(NH3)2 | 300.05 g/mol | 65.0% Pt | $200-500 | Chemotherapy drug |
| Platinum on Carbon (5%) | Pt/C | Variable | 5% Pt on carbon | $80-120 | Heterogeneous catalysis |
| Platinum Acetylacetonate | Pt(C5H7O2)2 | 393.29 g/mol | 49.6% Pt | $65-85 | CVD precursor |
| Ammonium Hexachloroplatinate | (NH4)2PtCl6 | 443.88 g/mol | 43.9% Pt | $42-58 | Platinum plating |
Suppliers by country
🇿🇦 South Africa
| Company | Product Forms | Specialties |
|---|---|---|
| Anglo American Platinum | Sponge, ingots, industrial products, refined metal | World's largest primary producer, full PGM basket |
| Impala Platinum | Refined metal, sponge, salts, industrial products | Integrated producer, recycling capabilities |
| Sibanye-Stillwater | Refined platinum, concentrates | Major PGM producer, US operations |
🇷🇺 Russia
| Company | Product Forms | Specialties |
|---|---|---|
| Norilsk Nickel | Refined platinum, sponge, industrial products | By-product from nickel mining, high palladium ratio |
🇬🇧 United Kingdom
| Company | Product Forms | Specialties |
|---|---|---|
| Johnson Matthey | Catalysts, chemicals, refined metal, gauze | Leading catalyst manufacturer, recycling |
🇩🇪 Germany
| Company | Product Forms | Specialties |
|---|---|---|
| BASF Catalysts | Catalyst products, platinum compounds | Automotive catalysts, chemical catalysts |
| Heraeus | Refined metal, compounds, catalysts, wire | High-purity products, recycling services |
🇯🇵 Japan
| Company | Product Forms | Specialties |
|---|---|---|
| Tanaka Kikinzoku | Industrial products, compounds, catalysts | Electronics applications, fuel cell catalysts |
| N.E. Chemcat | Catalyst products, platinum compounds | Automotive and chemical catalysts |
🇨🇳 China
| Company | Product Forms | Specialties |
|---|---|---|
| Jinchuan Group | Refined platinum, by-product PGMs | Nickel-copper mining by-products |
| Sino-Platinum Metals | Catalyst products, recycled platinum | Catalyst manufacturing, recycling |
🇺🇸 United States
| Company | Product Forms | Specialties |
|---|---|---|
| Stillwater Mining (Sibanye) | PGM concentrates, refined metal | Only US primary PGM mine |
| BASF Catalysts (US) | Automotive catalysts, industrial catalysts | Emission control catalysts |
Market demand by product form
| Application Sector | Demand (MT) | % of Total | Key Uses | Growth Rate (CAGR) |
|---|---|---|---|---|
| Automotive Catalysts | 78 | 41% | Gasoline & diesel catalytic converters | -2.5% |
| Jewelry | 38 | 20% | Rings, watches, luxury items | 1.5% |
| Industrial | 36 | 19% | Glass, nitric acid, silicones | 3.2% |
| Investment | 19 | 10% | Bars, coins, ETFs | 4.5% |
| Chemical | 11 | 6% | Process catalysts, pharmaceuticals | 2.8% |
| Electronics | 4 | 2% | Hard disk drives, thermocouples | 1.0% |
| Fuel Cells | 2 | 1% | PEMFC catalysts | 18.5% |
| Medical/Dental | 2 | 1% | Cancer drugs, dental alloys | 2.0% |
Market trends
Supply Deficit: Market facing 35 MT deficit, supporting prices above $1,000/oz Hydrogen Economy: Fuel cell demand growing at 18.5% CAGR, expected to reach 15 MT by 2030 Automotive Transition: ICE catalyst demand declining but offset by hybrid vehicle growth Green Hydrogen: PEM electrolyzer demand emerging, requiring 0.3-0.5 g Pt/kW Recycling Growth: Secondary supply now 34% of total, up from 25% in 2020 Investment Demand: ETF holdings at record 3.5 million oz South Africa Risk: Power shortages and labor issues affecting 72% of global supply Russia Sanctions: Western restrictions on Russian platinum creating market segmentation
Moles per kilogram
| Product Form | Formula | MW (g/mol) | Moles/kg |
|---|---|---|---|
| Platinum Metal | Pt | 195.084 | 5.13 |
| Chloroplatinic Acid (anhydrous) | H2PtCl6 | 409.83 | 2.44 |
| Chloroplatinic Acid (hexahydrate) | H2PtCl6·6H2O | 517.92 | 1.93 |
| Platinum(II) Chloride | PtCl2 | 265.99 | 3.76 |
| Platinum(IV) Chloride | PtCl4 | 336.90 | 2.97 |
| Cisplatin | PtCl2(NH3)2 | 300.05 | 3.33 |
| Ammonium Hexachloroplatinate | (NH4)2PtCl6 | 443.88 | 2.25 |
References
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