This statistic shows the global mine production of palladium from 2010 to 2012, sorted by major producing countries. The mine production in Russia reached an amount of some 84.7 metric tons in 2010.
Mine production of palladium globally
Palladium is a metal, close to platinum in chemical composition, used primarily within catalytic converters, a key component of internal combustion engines that power the majority of motor vehicles produced worldwide. Almost 60 percent of global palladium usage was attributed to catalytic converter production in 2010. Other areas of application for palladium are electronics, jewellery, medical purposes, dentistry, hydrogen purification, groundwater treatment, and other chemical applications. Palladium is a key component of fuel cells, which are used to convert chemical energy from fuel into electricity. About 16 percent of global palladium usage was accounted for by electrical engineering application in 2010.
Worldwide mine production of palladium fell in 2012 from higher levels in 2011 and 2010. In 2012, roughly 200 metric tons of palladium was produced worldwide, down from 215 metric tons in 2011 and 202 metric tons in 2010. Russia was the leading palladium producing country in 2012, followed by South Africa, Canada and the United States. The top world palladium consumers in 2012 were North America, consuming roughly 29 percent of produced palladium and China, consuming 20 percent of palladium. The United States and China were also the two individual countries with the largest global market shares of auto production in 2012. The USA accounted for 14.2 percent of auto production in 2012. China accounted for 18.8 percent of auto production.
The average price of palladium was 643 U.S. dollars per ounce in 2012. According to a precious metal price forecast from SBG Securities and Standard Bank, the price of palladium will rise to 900 U.S. dollars per ounce in 2016.