Platinum is a precious metal that has had a surge in popularity over the last few years. While extremely rare and very expensive, platinum is used in all sorts of jewelry, including rings, necklaces, and earrings. A beautiful and durable metal, platinum is easy manipulated into all of the latest styles. This precious metal also has many other uses including the automobile industry and photography, and it is more precious than gold. Prices fluctuate due to supply and demand, and since it is up to 30 times more rare than gold, can cost more than $1500 per ounce.
Platinum is mined in a similar way to gold and is found in only a few places worldwide, including South Africa, Russia, and Canada. Currently, South Africa produces the largest amount of platinum with roughly 80% . Russia is second in line, but due to platinum’s rarity, only a small amount comes from that area. Platinum is usually found uncombined, and it is estimated that the total amount of mined platinum could not even fill a swimming pool. It is also very interesting to note that if mining were to stop, we would only have enough in reserve to last about a year.
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May 22nd, 2008 at 4:53 pm
Why isn’t the mine in Montana, USA mentioned. At least they tell me that is what we are mining here at Stillwater Mining Co.?
October 24th, 2008 at 12:03 am
I am told that there is a South African cartel controlling Platinum and Rhodium… often mined together. That sources of supply fear death and are threatened to not sell to potential buyers.
March 12th, 2011 at 10:19 pm
I know, my dad works at stillwater mine in montana, the only place in the usa
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