How much platinum is left in the world?

Total worldwide reserves of platinum group metals are estimated to be some 70,000 metric tons. Almost all of it, some 90 percent, is located in the Earth's crust of South Africa. Far behind it, other major countries are Russia, Zimbabwe, the United States, and Canada.

How many years of platinum is left?

Platinum, copper and nickel reserves only have about 40 years left.

How much platinum is available on earth?

Platinum is an extremely rare metal, occurring at a concentration of only 0.005 ppm in Earth's crust.

Is platinum more scarce than gold?

Platinum is 30 times more rare than gold. If all the platinum ever mined were melted and poured into an Olympic-sized pool, the platinum would barely reach your ankles. Gold, however, would fill three pools.

Is platinum still being mined?

Today, world platinum production hovers at about seven million troy ounces per year. More than 70 percent of the world's platinum supply comes from the Bushveld Complex in South Africa's Transvaal.

PLATINUM Documentary: Mining, Science and History

Will platinum last a lifetime?

The cool, elegant look of platinum for engagement rings and other jewelry is especially popular today and with good reason: it is the strongest, most pure metal. Platinum is more rare than gold and will last a lifetime, resisting chipping and tarnishing.

Will platinum ever recover?

Platinum and palladium prices are set to recover next year on the back of climbing demand, as vehicle production rebounds through 2022.

Why is platinum so cheap?

Experts posit that platinum is about 15–20 times scarcer than gold and approximately 60–100 times scarcer than silver, on the basis of annual mine production. Since 2014, platinum prices have fallen lower than gold. Approximately 75% of global platinum is mined in South Africa.

What is the rarest metal in the universe?

The rarest stable metal is tantalum. The rarest metal on earth is actually francium, but because this unstable element has a half life of a mere 22 minutes, it has no practical use.

Is it good to invest in platinum?

Platinum is rarer than gold, and its demand is strong across several industries. However, platinum is a highly volatile precious metal that tends to see sharp swings in its prices. Its volatility can create opportunities for profit, but there's always the chance of losing a lot of money.

Is platinum rare in space?

Underneath the surface of some asteroids is a treasure trove of a type of mineral, called platinum, that is rare on Earth but extremely lucrative — 1,000 cubic centimeters of platinum is worth close to $1 million. And asteroids have a lot more than that in addition to other rare and precious materials.

Is platinum used in war?

Platinum dominated the world of jewelry design during the Edwardian era, and the Art Deco period well into the 1930s. This all came to an abrupt end in World War II, when platinum was declared a strategic metal and its use banned for all non-military purposes.

What metal are we running out of?

Looking farther into the future, other sources claim that things like aluminum might run dry in about 80 years. indicate that rhodium, followed by gold, platinum and tellurium, are some of the rarest elements in terms of their percentage in the planet's crust and their importance to society.

What metals are becoming rare?

Tin, antimony, tantalum and lead are expected to become unavailable before the middle of this century. Tantalum is one of the metals that are currently used as pin-head capacitors in mobile phones and other electronic equipment.

What is rarer than platinum?

Rhodium, iridium and ruthenium are perhaps the rarest, roughly 1/5 as common as platinum. However, the sale price of rhodium is typically a bit less than that of platinum, and the rest are even less expensive because they are simply less useful.

What is the most expensive element?

The most expensive natural element is francium. Although francium occurs naturally, it decays so quickly that it cannot be collected for use. Only a few atoms of francium have been produced commercially, so if you wanted to produce 100 grams of francium, you could expect to pay a few billion U.S. dollars for it.

What is hardest metal on earth?

What will platinum be worth in 2030?

Market Overview

The global platinum market size was valued at USD 7.30 billion in 2021 and is projected to reach USD 11.45 billion by 2030 at a CAGR of 5.13% from 2022 to 2030.

Why buy platinum over gold?

Strength. While both gold and platinum are strong, platinum is harder. Platinum is denser than gold, which means it's more durable, and is less likely to break. That means there's a smaller risk of you losing any of the precious metal.

What is the future of platinum?

Investment bank UBS readjusted its price forecast for platinum in 2023, estimating that the precious metal will cost $1,150 per ounce for June, up from a previous estimate of $1,100, and will reach $1,200 per ounce in December. The precious metal was priced at $1,004.90 per ounce at the time of writing.

What can destroy platinum?

Platinum is unaffected by air and water, but will dissolve in hot aqua regia, in hot concentrated phosphoric and sulphuric acids, and in molten alkali. It is as resistant as gold to corrosion and tarnishing.

What weakens platinum?

Believe it or not, the chemicals present in everyday products like cleaning supplies, perfumes, hairsprays, etc. can be quite harsh. They can weaken the structure of your precious metal over a period of time. Also, the chlorine present in swimming pools can ruin the platinum's shine and cause discoloration.

Will platinum ever rust?

Platinum, gold & silver

Known as the precious metals, platinum, gold and silver are all pure metals, therefore they contain no iron and cannot rust. Platinum and gold are highly non-reactive, and although silver can tarnish, it is fairly corrosion-resistant and relatively affordable by comparison.