Platinum

Platinum is one of the rarest of all precious metals.
Platinum shipments to the western world markets each year are only 120 to 130 tons.
Platinum is used in the production of one out of every five consumer products.
Platinum; the total quantity mined throughout history, would fill a cube less than 25 feet on each side.
Platinum requires 10 tons of raw ore mined to produce one ounce of metal.

Platinum fundamentals look strong for 2011, as the demand outlook remains robust and its industrial uses continue to expand at a healthy rate of between 6% and 15%, depending on the application. Platinum’s industrial base is thriving with automobile catalytic converters remaining in healthy demand and accounts for approximately 49% of platinum consumption. In addition approximately 26% of the platinum consumption is tied up in other industrial applications, growing collectively at a steady 6% annually. New and advanced technologies that require platinum are expected to drive the demand to an increase exceeding 50% in 2012. We also expect the continued strong demand for jewelry to drive this market even higher.

Platinum group metals (PMG) - iridium, osmium, palladium, platinum, rhodium, and ruthenium – all have outstanding catalytic properties. Platinum’s wear and tarnish resistance characteristics are well suited for making fine jewelry. Other distinctive properties include a high resistance to chemical attack, excellent high-temperature characteristics, and stable electrical properties. All theseproperties have been exploited for industrial applications. Platinum, platinum alloys and iridium are used as crucible materials for the growth of single crystals, especially oxides. The chemical industry uses a significant amount of either platinum or a platinum-rhodium alloy as a catalyst in the form of gauze to catalyze the partial oxidation of ammonia to yield nitric oxide, which is the raw material for fertilizers, explosives, and nitric acid. In recent years, a number of platinum derivative metals have become important as catalysts in synthetic organic chemistry. Platinum supported catalysts are used in refining crude oil. It is also used in other processes in the production of high-octane gasoline and aromatic compounds for the petrochemical industry. Since 1979, the automotive industry has emerged as the principal consumer of PGM. Palladium, platinum, and rhodium have been used as oxidation catalyst in catalytic converters to treat automobile exhaust emissions. A wide range of PMGalloy compositions are used in low-voltage and low-energy contacts, thick and thin - filmed circuits, thermocouples and furnace components, and electrodes.