As of 2019 it is estimated that there is approximately 792 thousand ounces of rhodium globally. In recent years, the lowest rhodium supply occurred in 2014 when there were just 617 thousand ounces available. Rhodium is considered one of the rarest and most valuable metals in the world.

Rhodium Overview

Rhodium is a silver-colored platinum group metal (PGM) that is highly reflective and resistant to corrosion and oxidation. Platinum group metals include rhodium, platinum, ruthenium, iridium, osmium, and palladium. Rhodium is the rarest metal in the platinum family and occurs in the Earth’s crust at a rate of around one part per 200 million. It is primarily used in catalytic converters to clean motor emissions or as a finishing metal for jewelry. Despite having a stable supply globally, the demand for rhodium has been increasing over time.

Platinum-group Metals Globally

Platinum-group metal mine production has been stable in recent years. Platinum is one of the most expensive metals to produce due to its low concentration within the ore from which it is mined. The price of production varies greatly between the countries in which it is produced, with South Africa having the highest cost of production for platinum. The world’s leading producer of platinum as of 2018 was Anglo American Platinum Ltd.