Platinum-group metal reserves worldwide 2022, by country

South Africa had estimated reserves of around 63,000 metric tons of platinum group metals in 2022.

Reserves of platinum group metals by country

Total worldwide reserves of platinum group metals are estimated to be some 70,000 metric tons. Almost all of it, some 90 percent, is located in the Earth’s crust of South Africa. Far behind it, other major countries are Russia, Zimbabwe, the United States, and Canada. The United States is estimated to have platinum metal reserves of some 900 metric tons.

Platinum production worldwide

Platinum in most cases is a by-product of copper and nickel mines and refineries. On the other hand, the largest pure platinum mines are in South Africa, which is also the world’s leading producer of the element. Around 140 metric tons of platinum was produced in South Africa in 2022. Russia, as the second-largest platinum miner, produced some 20 metric tons. The United States reported a platinum mine production of 3.3 metric tons. The largest platinum miner worldwide is South African mining company Anglo American Platinum Ltd., headquartered in Johannesburg. Other leading platinum companies are Impala Platinum (South Africa), Sibanye Gold Ltd. (South Africa), and Lonmin (United Kingdom).

Platinum prices

Since 1901, the price of platinum has been mostly higher than the price of gold. Platinum is mainly used for vehicle emission control devices and jewelry, but is also in high demand for laboratory devices and as an investment. Through its rarity, platinum became a symbol of prestige, manifesting itself, for example, in platinum awards and platinum credit cards. The crown for the coronation of King George VI of England in 1937 was the first one to be made of platinum.