Production of Platinum in Canada reached 216.32 thousand ounces in 2024
Production grew by a CAGR of 0.73% between 2021 to 2024,and is expected to grow by...
GlobalData projects the production to grow at a CAGR of...
Impact of COVID-19 on global platinum production
Global platinum group metal reserves held a significant position as of January 2021. Of this, 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 an estimated decline. Output in South Africa, the world’s largest platinum producer declines while production in Russia was significantly lower. Lockdown measures mainly across South Africa and an accident at Anglo American’s converter plant (ACP), which led to plants closure for 90 days, were the prime reasons for lower production in the country.
Platinum production
In 2020, global platinum production was severely disrupted by lockdowns and reduced operations, arising from the COVID-19 pandemic. South Africa is the world’s largest platinum producer in 2020. However, South Africa’s platinum production fell down in comparison to 2019, mainly due to the implementation of strict lockdown measures across the country to contain the spread of COVID-19 along with an accident at Anglo American Platinum’s converter plant (ACP).
Canada platinum reserves
According to the USGS, Canada held a significant position in platinum group metal (PGM) reserves. Many of the reserves are located in Ontario province.
The majority of platinum deposits in Canada are located in the Sudbury Basin of Ontario province, which were formed by meteorite strikes and volcanic activities. Some of the mines in the Basin include Morrison Underground Mine, Shakespeare Mine, Copper Cliff North Mine, Creighton Mine, Garson Mine and Sudbury Area Mine. Vale SA owns a large share of the mines in this area.
Global platinum producers
Anglo American Platinum Ltd, Impala Platinum Holding Ltd and MMC Norilsk Nickel are the world’s top platinum-producing companies.
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. The company has smelting furnaces in Polokwane, Swartklip, Rustenburg and Shurugwi, as well as converting and refining operations in Rustenburg. The company caters its products to the jewelry, industrial and autocatalysts markets around the world. Amplats is headquartered in Johannesburg, South Africa.
Sibanye Stillwater Ltd (Sibanye-Stillwater), formerly Sibanye Gold Ltd, is a precious metal and mining company, headquartered in Westonaria, 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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