Consumption of Platinum in United States of America reached 712.28 Thousand Ounces in 2020
Consumption declined by a CAGR of 4.50% between 2017 to 2020, and is expected to grow by ...
GlobalData projects the Consumption to decline at a CAGR of ...
Global platinum group metal reserves held a significant position in January 2021. South Africa accounted for the largest share followed by Russia and Zimbabwe.
The COVID-19 pandemic had a significant impact on global platinum production in 2020, with a decline in share. Output in South Africa, the world’s largest platinum producer falls, while production in Russia was lower. Lockdown measures mainly across South Africa and an accident at Anglo American’s converter plant (ACP), which led to plants closure for several days, were the prime reasons for lower production in the country.
Global Platinum reserves by country
According to the U.S. Geological Survey (USGS), global platinum group metal (PGM) reserves held a major position as of January 2021. Of the total global reserves, South Africa accounted for majority of share followed by Russia and Zimbabwe.
Platinum consumption
Global platinum consumption has been significantly impacted by the COVID-19 pandemic, with lower demand from the automobile and jewelry industries.
A major decline was reported in the autocatalyst segment, with a fall in 2020, mainly due to lower automobile production. Meanwhile, platinum demand from jewelry and industrial use fell over the years.
Company profiles
Anglo American Platinum Ltd, Impala Platinum Holding Ltd and MMC Norilsk Nickel are the world’s top platinum-producing companies in 2020.
Anglo American Platinum Ltd (Amplats), a subsidiary of Anglo American plc, is a platinum metals producer. It is involved in the exploration, processing, refining and marketing of platinum metals. Amplats’ portfolio of products includes platinum, palladium, rhodium, chrome ore and nickel. The company operates the Mogalakwena, Amandelbult and Mototolo mines in the Bushveld complex in South Africa, as well as the Unki mine in Zimbabwe’s Great Dyke. It operates both underground and open pit mines.
Sibanye Stillwater Ltd (Sibanye-Stillwater), formerly Sibanye Gold Ltd, is a precious metal and mining company, headquartered in Westonaria, South Africa. The company was the second-largest gold producer in South Africa. It carries out the extraction and processing of gold and platinum groups of metals (PGMs), and underground surface gold mining and related activities in South Africa. It owns and operates underground and surface gold operations, which include Cooke, Driefontein and Kloof operations in the West Witwatersrand region, and the Beatrix operation in the southern Free State province.
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