Platinum is the rarest of all precious metals.

Only 120-130 tons of platinum reach the western world markets each year.

Platinum is used in production of one of every five consumer products.

All the platinum ever mined throughout history would fill a cube less than 25 feet on each side.

10 tons of raw ore must be mined to produce one ounce of platinum.

Platinum’s fundamentals look strong as the demand outlook remains robust as 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 auto catalysts remaining in healthy demand and accounts for approximately 49% of platinum consumption. In addition approximately 26% of platinum consumption is tied up in other industrial applications, such as the glass, electronics, petroleum, and chemical industries, and these are growing collectively at a steady 6% annually. Much of the technology that platinum is used for are new and advanced technologies and is expected to see growth of approximately 3%. We also expect continued strong demand for jewelry to drive this market higher. The catalytic properties of the six platinum group metals (PGM)- iridium, osmium, palladium, platinum, rhodium, and ruthenium – are out standing. Platinum’s wear and tarnish resistance characteristics are well suited for making fine jewelry. Other distinctive properties include resistance to chemical attack, excellent high-temperature characteristics, and stable electrical properties. All these properties 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 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 PGM have become important as catalysts in synthetic organic chemistry. Platinum supported catalysts are used in the refining of crude oil, reforming, and other processes used 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 PGM alloy compositions is used in low-voltage and low-energy contacts, thick- and thin-film circuits, thermocouples and furnace components, and electrodes.