Other Platinum Topics
History
How is Platinum mined?
Intrinsic Value & Gresham's Law
Bimetallism
Assaying
Platinum Bullion

 

Platinum is mined all over the world.  In the late 1980s, the Soviet Union and South Africa were the leading producers. Other leading producers are Canada, Colombia, and the United States.

II PROPERTIES
Platinum is a relatively rare, chemically inert, metallic element that is more valuable than gold.  Platinum is a grayish-white metal with a hardness of 4.3. Small amounts of iridium are usually added to increase its hardness and durability.  It has a high fusing point, is malleable and ductile, expands slightly upon heating, and has high electrical resistance. Chemically the metal is relatively inert and resists attack by air, water, single acids, and ordinary reagents.

III MARKETS
Demand for platinum has grown much faster than supplies during the last five years.  Platinum has far more industrial uses than either gold or silver.  Half of the annual supply of platinum involves industrial consumption which means that these consumed supplies need to be regularly replenished.  Auto catalytic converters and platinum’s role as a catalyst in “cracking” crude oil are both examples of applications that consume this metal. And highlights why it’s in such demand.  After a period of surplus and low prices during the early and mid 1990s, when high exports of platinum from Russia coincided with a decline in autocatalyst demand, the situation changed abruptly as the decade drew to a close. Since 1999, the Chinese platinum jewelry market has boomed, and more recently there has been a substantial return to platinum in autocatalysts.  Industrial demand, meanwhile, has continued to grow steadily. The result has been a series of annual supply deficits between 1999 and 2001. 

Scientific Developments
Because of its chemical inertness and high fusing point, platinum is used for measuring high temperatures, and it is valuable for producing laboratory instruments such as crucibles, tongs, funnels, combustion boats, and evaporating dishes.

Glass Production
Platinum crucibles and equipment are used extensively in the production of glass fiber and high quality optical glass for liquid crystal displays where the particularly aggressive nature of the molten product is tamed by Platinum's operating efficacy in such high temperature environments.

Fuel Cells
Platinum is at the forefront of pioneering development work currently underway by many of the world's automobile companies to bring fuel cell powered vehicles to commercial viability by 2005. The fuel cell uses Platinum to promote the reaction of hydrogen and oxygen to produce water while in the process creating sufficient electrical power to drive a vehicle. Pollutants from this process are negligible. A parallel program is being carried out to examine the viability of stationery applications such as supplying power for domestic households.