The Importance Of Recovery
Platinum is among the least abundant of the earth's elements
Platinum is among the least abundant of the earth’s elements and its extraction from the ground entails extreme difficulties.
Mining for platinum is very energy and capital intensive. Approximately 10 tonnes of ore must be mined to produce 1 oz (28 grams) of platinum. Mining at depths of 2kms below the surface, temperatures can be greater than 50 degrees Celsius. The process can take 6 months to complete.
Demand for platinum is essentially satisfied by just four mines in South Africa and Siberia in Russia. South Africa accounts for 88% of the world’s total reserves.
The annual world supply is about 130 tonnes which is equivalent to only 6% (by weight) of the Western Worlds annual production of gold and 1% of silver.
Platinum with the atomic number of 78 is one of the highest density metals found in nature, being 11% more dense than gold. Just 15cm3 of the metal weighs about 70kgs. It also has an extremely high melting point of 1.769 degrees Celsius and a boiling point of 3,827 degrees Celsius.
The high electrical conductivity, ductile and malleable properties platinum possesses makes it ideal for drawing thin wires and foils. It is also one of the most effective catalysts known for inducing a variety of chemical reactions. Relative to volume mined, platinum has more industrial uses than either silver or gold.
Annual platinum consumption is divided into three categories: 50% industrial uses: 40% jewellery manufacturing and 10% investment purposes.
More than 40% of the yearly production of platinum is consumed (read destroyed) by industrial uses. It has been estimated that if all mining were stopped today, the world’s current available platinum supply would be exhausted in one year or less.
By taking up the service PlatAu provides you can assist in the preservation of a rare and wonderful resource.
News
An article in the Western Sydney Local Health District News Letter The Pulse can be viewed on the link below.