U.S. Department of the Interior

U.S. Geological Survey

Scientific Investigations Report 2012–5164

Version 1.1

Global Exploration and Production Capacity for 

Platinum-Group Metals From 1995 Through 2015
Cover. Map of the world showing the locations where platinum-group metals were produced in 

2010 (red circles), where facilities were being developed (yellow squares), and where sites were at 

such an advanced stage of exploration that the deposit was likely to begin production by 2015 (green 

triangles). Base derived from Global Multiresolution Terrain Elevation Data 2010 and data are from 

Johnson Matthey plc (2010) and Butler (2011, p. 16–23).
Global Exploration and Production 

Capacity for Platinum-Group Metals 

From 1995 Through 2015

By David R. Wilburn

Scientific Investigations Report 2012–5164

Version 1.1

U.S. Department of the Interior

U.S. Geological Survey
U.S. Department of the Interior

KEN SALAZAR, Secretary

U.S. Geological Survey

Marcia K. McNutt, Director

U.S. Geological Survey, Reston, Virginia: 2012

Revised and republished December 2012

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Suggested citation:

Wilburn, D.R., 2012, Global exploration and production capacity for platinum-group metals from 1995 through 2015 

(version 1.1): U.S. Geological Survey Scientific Investigations Report 2012–5164, 26 p., at http://pubs.usgs.gov/

sir/2012/5164/.
iii

Contents

Abstract...........................................................................................................................................................1

Introduction.....................................................................................................................................................2

Site Selection Methodology.........................................................................................................................4

Site Assessments...........................................................................................................................................5

South Africa...........................................................................................................................................5

Russia....................................................................................................................................................17

Zimbabwe.............................................................................................................................................18

Canada..................................................................................................................................................18

United States .......................................................................................................................................19

Other Areas..........................................................................................................................................19

Estimates of Primary PGM Capacity.........................................................................................................20

Factors Affecting PGM Capacity and Supply..........................................................................................22

Summary and Conclusions.........................................................................................................................23

References Cited..........................................................................................................................................24

Tables

1. Operations included for analysis in this report........................................................................6

2. Operations not included for statistical analysis in this report but that may become 

operational between 2016 and 2020. .......................................................................................10

3. Operations unlikely to come into production before 2020 ...................................................11

4. Selected South African platinum-group metal operations and projects ..........................12

Figures

1. Map showing locations where platinum-group metals were produced in 2010, where 

facilities were being developed, and where sites were at such an advanced stage of 

exploration that the deposit was likely to begin production of PGMs by 2015...................3

2. Chart showing worldwide production from countries producing significant refined 

platinum from 1995 through 2010................................................................................................4

3. Chart showing production capacity of platinum and a timeline of significant events 

related to changes in platinum capacity in South Africa.....................................................14

4. Chart showing estimated global production capacity for platinum from 1995 through 

2015 ...............................................................................................................................................20

5. Chart showing estimated global production capacity for palladium from 1995 through 

2015 ...............................................................................................................................................21

6. Chart showing average annual nominal prices of selected metals from 1995 through 

2010 ...............................................................................................................................................23
iv

Conversion Factors

Multiply By To obtain

Length

meter (m) 3.281 foot (ft) 

kilometer (km) 0.6214 mile (mi)

Mass

kilogram (kg) 2.205 pound avoirdupois (lb)

ton, metric (t) 1.102 ton, short (2,000 lb)

Abbreviations

BEE Black Economic Empowerment 

NLEV National Low Emission Vehicle Program

NOx nitrogen oxides

PGM platinum-group metals

UG2 Upper Group Reef seam 2

USGS U.S. Geological Survey
Global Exploration and Production Capacity for 

Platinum-Group Metals From 1995 Through 2015

By David R. Wilburn

Abstract

Platinum-group metals (PGMs) are required in a variety 

of commercial, industrial, and military applications for many 

existing and emerging technologies, yet the United States is 

highly dependent on foreign sources of PGMs. Information 

on global exploration for PGMs since 1995 has been used 

in this study as a basis for identifying locations where the 

industry has determined that exploration has provided data 

sufficient to warrant development of a new mine or expansion 

of an existing operation or where a significant increase in 

capacity for PGMs is anticipated by 2015. Discussions include 

an overview of the industry and the selected sites, factors 

affecting mineral supply, and circumstances leading to the 

development of mineral properties with the potential to affect 

mineral supply. Of the 52 sites or regional operations that were 

considered in this analysis, 16 sites were producing before 

1995, 28 sites commenced production from 1995 through 

2010, and 8 sites were expected to begin production from 2011 

through 2015 if development plans came to fruition.

The United States imports PGMs primarily from Canada, 

Russia, South Africa, and Zimbabwe to meet increasing 

demand for these materials in a variety of specialized and 

high-tech applications. Feed sources of PGMs are changing 

in South Africa and Russia, which together accounted for 

about 89 percent of platinum production and 82 percent of 

palladium production in 2009. A greater amount of South 

African PGM capacity is likely to come from deeper, higher 

cost Upper Group Reef seam 2 deposits and deposits in the 

Eastern Bushveld area. Future Russian PGM capacity is 

likely to come from ore zones with generally lower PGM 

content and different platinum-to-palladium ratios than the 

nickel-rich ore that dominated PGM supply in the 1990s. 

Because PGM supply from Canada and Russia is derived as a 

byproduct of copper and nickel mining, the PGM supply from 

these countries is influenced by economic, environmental, 

political, and technological factors affecting exploration for 

and development of copper and nickel, as well as factors 

affecting the PGM industry. The recovery of PGMs from 

mill tailings since 2004 and the recycling of PGMs from 

catalytic converters, electrical components, and jewelry has 

increased since 1995 so that recycled PGMs recovered from 

these products accounted for about 30 percent of the supply of 

platinum worldwide and 29 percent of the supply of palladium 

worldwide in 2010.

Economic and geopolitical conditions have influenced 

PGM supply and demand. The global recession of 2008 

and 2009 temporarily decreased demand for PGMs and 

constrained PGM mine exploration and development, at 

least through 2010. Legislation regulating the structure 

of the mining sector has affected mining in Russia, South 

Africa, and Zimbabwe. Stricter vehicle emissions standards 

in established markets since the 1980s have led to mandatory 

use of pollution control devices, such as catalytic converters, 

that contain PGMs and are required on vehicles in expanding 

markets, such as China and India.

It is expected that South Africa, Russia, Canada, and 

Zimbabwe will continue to be the principal sources of PGM 

at least for the next decade. Based on this review of the PGM 

industry, the world’s platinum capacity, expressed in terms 

of recoverable platinum metal, increased from 1995 through 

2010 by 77,000 kilograms (kg) in South Africa, 9,000 kg in 

Zimbabwe, 6,000 kg in Russia, 2,000 kg in Botswana, and 

2,000 kg in Canada. For the same period, palladium capacity 

worldwide increased by 44,000 kg in South Africa, 22,000 kg 

in Russia, 8,000 kg in Canada, 8,000 kg in the United States, 

7,000 kg in Zimbabwe, and 3,000 kg in Botswana. Platinum 

capacity worldwide is expected to further increase by 

24,000 kg in South Africa, 9,000 kg in Russia, 3,000 kg in 

Canada, and 2,000 kg in Zimbabwe from 2011 through 2015. 

Palladium capacity worldwide is likewise expected to increase 

an additional 16,000 kg in Russia, 14,000 kg in South Africa, 

4,000 kg in Zimbabwe, and 1,000 kg in Canada if new or 

expanded mine and associated processing capacity comes into 

production as planned. It is likely that the magnitude of these 

changes in PGM capacity has been influenced by such factors 

as the global economy, electrical capacity shortages and mine 

safety concerns in South Africa, and geopolitical conditions in 

the major PGM producing countries.
2 Global Exploration and Production Capacity for Platinum-Group Metals from 1995 though 2015

Introduction

An adequate and dependable supply of minerals is 

essential to meet the Nation’s mineral demand. The U.S. 

Geological Survey (USGS) actively monitors global 

nonfuel mineral exploration, development, production, and 

consumption activities to better anticipate the location and 

quantity of future minerals supply. Data collected have been 

used to identify the locations (fig. 1) where recent exploration 

since 1995 has supported the development of new or expanded 

capacity for platinum group metals (PGMs).

PGMs,which include iridium, osmium, palladium, platinum, 

rhodium, and ruthenium, are required in a variety of commercial, 

industrial, and military applications for a variety of existing and 

emerging technologies. In 2010, the United States imported 

about 94 percent of the platinum and 58 percent of the palladium 

it consumed. PGMs are used primarily in the automobile sector 

as catalysts for air-pollution abatement in light- and heavy-duty 

vehicles, in fuel cells, and in petroleum refining; in the chemical 

sector as a catalyst in nitric acid production; in the electronics 

sector in computer hard discs, multilayer ceramic capacitors, 

and integrated circuits; in the glass manufacturing sector in the 

production of fiberglass, liquid crystal displays, and flat-panel 

displays; and in other applications, such as jewelry, medical and 

dental appliances, and as an investment.

The National Research Council (United States) identified 

the critical minerals and materials it determined were essential 

for industry and emerging technologies in the domestic 

economy and has concluded that the PGMs palladium, 

platinum, and rhodium should be considered critical because 

of limited availability and their potential for supply disruption 

(National Research Council, 2008, p. 137–147). A 2010 study 

prepared by the European Commission for the European 

Union also included PGMs in its list of 14 critical raw 

materials (European Commission, 2010, p. 6).

The leading use of palladium, platinum, and rhodium is as 

a component in automobile catalysts. The U.S. Environmental 

Protection Agency’s National Low Emission Vehicle (NLEV) 

Program, which was implemented in 1997 as a voluntary 

program and Federally mandated by 2001, placed an emphasis 

on lowering hydrocarbon emissions in automobiles and lightduty trucks and required the use of catalytic converters in most 

vehicles to lower vehicle emissions. This regulation favored 

increased use of palladium over platinum in catalytic converters 

for gasoline-powered vehicles. Similar regulation restricted 

nitrogen oxides (NOx) emissions from vehicles, resulting in 

increased use of rhodium in catalytic converters for vehicles 

with gasoline engines and of platinum and rhodium in catalytic 

converters designed for diesel engines. Although palladium, 

platinum, and rhodium are all used in the automotive sector in 

catalytic converters, their individual application and suitability 

varies sufficiently so that only certain substitutions can occur. 

Palladium may be partially substituted for platinum in catalytic 

converters for most gasoline-fueled vehicles, but palladium may 

not be universally substituted for platinum in converters designed 

for diesel engines, and there is presently no less expensive 

substitute for rhodium to control NOx emissions (National 

Research Council, 2008, p. 137–147). Any interruption in the 

supply of catalytic converters because of a PGM supply deficit 

may increase the cost of automobiles and limit production of 

vehicles that use PGM-rich catalytic converters because internal 

combustion gasoline- and diesel-fueled vehicles cannot be sold 

in the United States without catalytic converters. Similarly, a 

deficit in PGM supply could affect the cost of materials, products, 

and fuels used by many other downstream end-use industries. 

A sustained PGM supply deficit could reprioritize or delay the 

development and implementation of technologies that may reduce 

fossil fuel consumption, increase energy efficiency, and improve 

air quality for such technologies that require PGMs; alternatively, 

a sustained PGM supply deficit could stimulate the development 

of new technologies that use no or small amounts of PGMs.

Although deposits containing PGMs are widespread, 

those mined for PGMs because the PGMs are economically 

recoverable at 2010 prices are limited. The relative abundance 

of PGMs in the Earth’s crust is orders of magnitude lower 

than the relative abundances of the base metals with which 

they are often associated. In order of importance relative to 

world supply, South Africa, Russia, Canada, Zimbabwe, and 

the United States are the leading sources of PGM mining. In 

2010, South Africa accounted for about 78 percent of global 

primary production of other PGMs (iridium, osmium, rhodium, 

and ruthenium), 77 percent of global primary production of 

platinum, and 41 percent of global primary production of 

palladium in 2009 (Loferski, 2012a, p. 57.12). In 2010, Russia 

accounted for about 42 percent of global primary production of 

palladium, 13 percent of global primary production of platinum, 

and 16 percent of global primary production of other PGMs 

(Loferski, 2012, p. 57.12). Data compiled from public sources 

as of April 2011 suggest that about 82 percent of the global 

PGM reserves reported by company sources at the proven or 

probable level are located in South Africa, and 7 percent of the 

reserves are located in Russia (Metals Economics Group, 2010). 

Additional PGM reserves are located in Zimbabwe (6 percent), 

the United States (2 percent), Canada (1.5 percent), and China 

(1.5 percent). Negligible reserve amounts are reported in other 

areas. It should be noted that different companies use varying 

criteria to determine site reserve estimates. Because most of the 

exploration for PGMs is occurring near producing areas or as 

extensions of known occurrences, PGM reserves in other areas 

are viewed as negligible, although sizeable PGM resources have 

been identified in Australia and Finland, where there is no active 

production and initiating production could require a substantial 

initial outlay of capital.

The following are the principal geologic environments 

associated with PGM-bearing deposits from which large-scale 

production has taken place (Vermaak, 1995; Wilburn and 

Bleiwas, 2005, p. 11):

• stratiform deposits found in large Precambrian mafic 

to ultramafic layered intrusions; examples include 

the Merensky Reef and the Upper Group Reef seam 

2 (UG2) of the Bushveld Complex in South Africa, the 
Introduction 

3

Russia

Canada

China

United States

South Africa

Botswana

Zimbabwe

EXPLANATION

Feasibility studyDeveloping PGM mineProducing PGM mine

Base derived from Global Multiresolution Terrain Elevation Data 2010 (GMTED2010) Data are from Johnson Matthey plc (2010) and Butler (2011, p. 16-23)

0 4,000 KILOMETERS

0 2,000

2,000

4,000 1,000

1,000

MILES

0 100 200 MILES

0 100 200 KILOMETERS

180° 160° 140° 120° 100° 80° 60° 40° 20° 0° -20° -40° -60° -80° -100° -120° -140° -160°

70°50°30°10°

-10°-30°-50°-70°

30° 25°

-20°-25°

Figure 1. Locations where platinum-group metals (PGMs) were produced in 2010, where facilities were being developed, and where sites were at such an advanced stage of exploration that the deposit was likely to begin production of PGMs by 2015. Data are from Johnson Matthey plc (2010) and Butler (2011, p. 16–23).
4 Global Exploration and Production Capacity for Platinum-Group Metals from 1995 though 2015

Great Dyke in Zimbabwe, and the Stillwater Complex in 

the United States;

• nickel- and copper-bearing gabbro-dolerite sills, such as 

those found in the Noril’sk-Talnakh District in Russia;

• norite intrusions with nickel and copper mineralization, 

such as the Sudbury irruptive complex in Canada; and

• disseminated sulfides enriched in PGMs associated with 

contact zones of mafic to ultramafic intrusions at the 

Platreef deposit in South Africa or composite plutons, 

such as the Lac des Iles deposit in Canada.

Large stratiform PGM deposits, such as the Bushveld and 

Stillwater Complexes, typically contain PGMs of sufficient 

grade and tonnage to be considered the primary products. 

PGMs are recovered as byproducts from Canadian and 

Russian nickel and copper deposits. PGMs also are recovered 

from alluvial and placer deposits containing platinum and gold 

in Columbia and Russia. The amounts and principal locations 

from which PGMs have been mined as a primary product and 

(or) recovered as a byproduct of base-metal mining from 1995 

through 2010 are shown in figure 2.

Site Selection Methodology

This report focuses on 52 projects or operations where 

mineral exploration has led to the development of a mine or the 

significant expansion of a mine and supporting facilities before 

2011 and projects planned for development from 2011 through 

2015 based on company plans reported as of April 2011. 

Individual sites may include more than one mine if the operator 

considers the site as a single integrated operation and treats ore 

from these mines as a single feed source for processing. Projects 

were selected if they met at least one of the following criteria:

• initial production commenced after 1994;

• the mine or project had an actual or planned capacity 

greater than 4,500 kilograms per year (kg/yr) of an 

individual platinum-group element;

• the mine or project had a capacity greater than 

10,000 kg/yr of total recoverable PGMs or;

• PGMs are recovered as a byproduct of an operation with 

a capacity exceeding 40,000 metric tons per year (t/yr) 

of contained copper or 15,000 t/yr of contained nickel in 

ore or recoverable product.

The assigned capacity cutoff of 4,500 kg/yr represented about 

2 percent of the average global production of platinum or 

3 percent of the average global production of palladium from 

1995 through 2009.

Table 1A lists the 45 sites that met the selection criteria, 

of which 15 sites were producing before 1995, 28 sites 

commenced production between 1995 and 2010, and 2 sites 

were expected to begin production between 2011 and 2015. 

Table 1B lists 7 additional sites considered for analysis even 

0

50

100

150

200

250

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

Production, in thousand kilograms

Year

South Africa

Russia

Zimbabwe

Canada

United States

Colombia

Other countries

EXPLANATION

Figure 2. Worldwide production from countries producing significant refined platinum from 1995 through 2010. Production is measured 

in kilograms of platinum recovered. Refined production for the purposes of this chart is from primary sources only. Data are from Reese 

(1997), Hilliard (1998–2011), George (2006–2010), and Loferski (2009–2011, 2011a, b).
Site Assessments 5

though the selection criteria were not met, including 1 site that 

has produced intermittently and 6 additional sites that were 

expected to commence production between 2011 and 2015 

but did not meet study capacity requirements; site capacity 

estimates are listed broken out for selected platinum-group 

metals and other commodities as of 2015. The map in figure 1 

shows the locations where PGMs were produced in 2010, 

where facilities were being developed, and where sites were 

at such an advanced stage of exploration that the deposit was 

likely to begin production of PGMs by 2015.

Table 1 also reports the estimated average platinum 

capacity utilization rate of each site. For the purposes of this 

report, the capacity utilization rate reflects the ratio of the 

average production of the principal PGMs from 2007 through 

2010 compared with the estimated PGM capacity in 2010. 

The average capacity utilization rate for the 45 sites shown in 

table 1 was estimated to be 73 percent. This low value seems 

reasonable given that a number of operations had reduced 

production during 2008 and 2009 because of reduced demand 

for PGMs in the high-technology and automotive sectors 

resulting from the global recession. In addition, a number 

of operations had recently begun production and had not yet 

achieved full capacity.

In addition, 34 sites were evaluated, and selected 

information on these sites is reported in tables 2 and 3. These 

sites either did not satisfy the capacity requirements specified 

in this study or would not achieve initial production until 

after 2015. Table 2 lists nine sites not included for analysis 

but which were most likely to come into production from 

2016 to 2020. Table 3 lists 25 additional sites evaluated in this 

study but not included for analysis because information as of 

April 2011 suggested that the site was either unlikely to come 

into production by 2020 or not sufficiently advanced in the 

exploration process to have developed an estimate of the site’s 

expected capacity or the reported PGM capacity at the site 

was below the study cutoff level. The reasons why each site 

was excluded from statistical analysis are listed in tables 2 and 

3. Sites where development decisions were made after April 

2011 were not considered for this study.

Increasing prices and strong demand for PGMs during 

the past decade stimulated PGM exploration before the 

downturn in the global economy in mid-2008. In response to 

the economic recession and subsequent drop in PGM prices 

late in 2008 and early in 2009, many companies reduced 

exploration spending, delayed development, and reduced or 

curtailed production until economic conditions improved and 

demand for PGMs strengthened. Table 3 notes those sites 

where development had been delayed beyond 2020 and briefly 

describes the development status of each operation as reported 

at the beginning of 2011. During 2012, labor unrest in South 

Africa resulted in companies reviewing future capacity and 

development plans for some of the South African PGM mines 

and projects. Consequently, development plans reported in 

this report may have changed based on events that have taken 

place after the report was written.

Site Assessments

South Africa

The Bushveld Complex in South Africa was discovered 

in 1906 and was first mined as a placer. Because of its 

favorable economics, immense size, and PGM-rich 

mineralogy, as determined by subsequent exploration, the 

Bushveld Complex has become the leading source of PGMs 

in the world since the 1920s. The USGS estimated that 

about 77 percent of the platinum production and 41 percent 

of palladium production in 2010 came from South Africa 

(Loferski, 2012, p. 57.12). The Bushveld Complex has been 

subdivided into three areas, the Northern limb (hosting the 

Platreef) and the Eastern and Western limbs (each hosting the 

Merensky Reef and UG2 seam). The Merensky Reef has been 

a principal source of PGMs since it was first worked in 1925 

because of its shallower depth and generally higher PGM 

content than the UG2; in addition, the Merensky Reef has a 

lower chromite content, which makes it easier and less costly 

to process ores than from the UG2 seam. Production from 

the UG2 seam began in the 1970s and has steadily increased. 

The Platreef was mined briefly in the 1920s, but no significant 

production occurred until 1993 (Johnson Matthey Plc, 2010). 

Cawthorn (1999) estimated that about 71 percent of the 

reserves from the Bushveld Complex are found in the Western 

limb; 24 percent, in the Eastern limb; and about 5 percent, 

in the Northern limb and that about 57 percent of the PGM 

reserves occurred in the Merensky Reef; 38 percent, in the 

UG2 seam; and 5 percent, in the Platreef.

Higher PGM prices have stimulated interest in exploring 

for PGMs as extensions to known occurrences at depth, in 

new areas adjacent to known occurrences within the Bushveld 

Complex, in reprocessing tailings and waste rock, and for PGMs 

associated with nickel-copper deposits. New technologies that 

are able to detect minute levels of PGMs support exploration 

activities. Future sources of South African PGMs may vary in 

mineralogy and depth from PGM sources mined in the 20th 

century as the shallower, lower-cost mineralized portions of the 

Merensky Reef in the Western limb of the Bushveld Complex 

are becoming depleted. Much of the future production from 

the Western limb will likely come from the UG2 seam, which 

is generally found at a greater depth, has a finer grain size, 

requires different processing, and generally contains higher 

rhodium-grade ore than the Merensky Reef. In 1998, the UG2 

seam accounted for 38 percent of the ore processed; by 2006, it 

is estimated that the UG2 seam accounted for about 60 percent 

of the PGM ore processed in South Africa (Kendall, 2003). 

Detailed exploration allows for the delineation of mineralogical 

differences and the identification of zones with the highest 

economic potential.

The contribution of PGM reserves in the Eastern and 

Northern Bushveld has increased relative to the total amount 

of PGMs produced as exploration has identified additional 

reserves, and new mines located in these areas have come 
6 Global Exploration and Production Capacity for Platinum-Group Metals from 1995 though 2015 Table 1. Operations included for analysis in this report. A, Operations that meet at least one of the required criteria and B, Operations that did not meet the required criteria but were included for analysis. [A. Individual sites may include more than one mine if the operator treats ore from these mines as a single feed source for processing. Operations were included if mineral exploration from 1995 through 2010 has led to the development of a mine or an expansion of mine capacity, if a project was planned for production from 2011 through 2015, and if the proposed operation had a reported or expected capacity greater than 4,500 kilograms per year (kg/yr) of a single platinum-group metal (PGM) or 10,000 kg/yr of total PGMs or if PGMs were recovered as a byproduct of an operation with production more than 40,000 metric tons per year (t/yr) of contained copper or 15,000 t/yr of contained nickel in ore or as a recoverable product. B. Sites were included if company plans as of 2011 suggested the site might come online between 2016 and 2020 or if the resource was sufficiently large and plans were advanced enough to suggest that the site might be developed by 2020. Ag, silver; Au, gold; Co, cobalt; Cu, copper; Ir, iridium; NA, not applicable; Ni, nickel; Ru, rubidium] A. Operations that meet at least one of the required criteria Country Operation Status 1 Capacity factors 2 Expected capacity in 2015 3 Average annual capacity utilization rate, percent 4 Platinum, kg/yr Palladium, kg/yr Rhodium, kg/yr Other commodities Botswana Tati Nickel (Phoenix) P (1995) Expansion in 2008 470 2,300 NA 22,000 t/yr Ni; 13,200 t/yr Cu 97 Canada Lac des Iles P (1993) Replacement feed sources 460 7,800 NA 16 kg/yr Au; 1,800 t/yr Cu; 900 t/yr Ni 62 Canada Levack Complex includes Levack, McCready West, and Podolsky P (2004) Additional feed sources 770 1,300 NA 30,400 t/yr Cu; 3,200 t/yr Ni; 370 kg/yr Au 75 Canada Ontario Division (Vale) 5 P (1885) Expansion due by 2011; replacement feed sources 5,300 7,500 NA 106,000 t/yr Ni; 112,000 t/yr Cu; 700 t/yr Co 80 Canada Raglan P (1997) New feed sources to come into production in 2012 and 2015 1,800 4,200 NA 30,000 t/yr Ni; 7,300 t/yr Cu; 590 t/yr Co 88 Canada Sudbury Operations (Xstrata) 6 P (1929) Replacement feed sources 1,500 1,600 NA 32,000 t/yr Ni; 62,000 t/yr Cu 77 China Jinchuan P (1963) Expansion completed 2010; new feed sources 2,000 560 NA 150,000 t/yr Ni; 400,000 t/yr Cu; 10,000 t/yr Co 93 Russia Kola Peninsula P (1938) Replacement feed sources 240 320 NA 40,000 t/yr Ni; 20,000 t/yr Cu 94 Russia Taimyr Peninsula P (1939) Ongoing processing expansion; replacement feed sources 23,000 100,000 NA 122,000 t/yr Ni; 430,000 t/yr Cu 78 South Africa Amandelbult P (1929) Restructured in 2009; replacement feed sources 18,700 8,400 2,200 4,000 t/yr Ni; 2,300 t/yr Cu; 620 kg/yr Au 84 South Africa Bafokeng-Rasimone P (2000) Replacement feed sources 6,100 2,500 420 1,700 t/yr Ni; 1,000 t/yr Cu; 350 kg/yr Au 92

South Africa Bakoni (Lebowa) P (1968) Expansion by 2012 4,500 3,800 580 3,600 t/yr Ni; 1,400 t/yr Cu; 350 kg/yr Au 68South Africa Blue Ridge P (2009) Placed on care and 

maintenance in 2010

2,600 1,300 410 44 kg/yr Au 42

South Africa Crocodile River P (2000) New feed source online in 

2009

2,600 1,200 410 29 kg/yr Au 89

South Africa Eland (Xstrata) P (2007) Ongoing expansion, new 

feed sources

5,700 2,700 930 NA 34

South Africa Elandsfontein PTM 

(WBJV)

D (2013) Under development 5,400 2,300 570 280 kg/yr Au NA
Site Assessments 

7

A. Operations that meet at least one of the required criteria

Country Operation Status 1 Capacity factors 2

Expected capacity in 2015 3 Average 

annual capacity 

utilization rate, 

percent 4

Platinum, 

kg/yr

Palladium, 

kg/yr

Rhodium, 

kg/yr Other commodities

South Africa Everest P (2005) Full capacity expected by 

2011

3,700 1,800 650 62 kg/yr Au 91

South Africa Impala P (1969) Replacement feed sources 34,000 15,300 4,000 2,200 kg/yr Au; 7,200 t/yr Ni; 200 t/yr Cu 90South Africa Kroondal P (2004) Replacement feed sources 7,900 3,800 1,400 390 t/yr Ni; 180 t/yr Cu; 70 kg/yr Au 97South Africa Kroondal tailings P (2005) Limited capacity 190 68 47 20 kg/yr Au; 12 t/yr Ni; 10 t/yr Cu 77South Africa Ledig Frischgewaagd F (2014) Funding approved late 2010 6,900 3,000 790 260 kg/yr Au NASouth Africa Limpopo (Messina) P (2002) Placed on care and 

maintenance in 2009

1,400 970 150 140 kg/yr Au 45

South Africa Lonrho (Eastern Platinum, 

Karee, Western Platinum)

P (1975) Ongoing development of 

UG2 processing capacity; replacement feed sources

29,500 13,400 4,000 3,100 kg/yr Au; 6,500 kg/yr Ru; 1,300 kg/yr Ir 72

South Africa Marikana P (2003) Restructuring ongoing 2,800 1,300 550 30 kg/yr Au; 130 t/yr Cu; 240 t/yr Ni 94South Africa Marula P (2004) Decreasing recovery and 

head grades

3,100 3,200 700 1,000 kg/yr Ru; 290 kg/yr Ir; 84 kg/yr Au; 220 

t/yr Ni

70

South Africa Modikwa P (2002) Replacement feed sources 4,300 4,200 860 120 kg/yr Au; 700 t/yr Ni; 400 t/yr Cu; 1,200 

kg/yr Ru; 300 kg/yr Ir

94

South Africa Mogalakwena (PPRust) P (1993) New concentrator in 2009 8,500 8,900 560 1,250 kg/yr Au; 4,000 t/yr Ni; 2,000 t/yr Cu 77South Africa Mototolo P (2006) Achieved capacity in 2009 4,000 1,900 560 50 kg/yr Au; 300 t/yr Ni; 100 t/yr Cu 77South Africa Nkomati P (1997) Ongoing expansion due in 

2012

930 2,500 NA 20,000 t/yr Ni; 9,000 t/yr Cu; 250 t/yr Co 20

South Africa Northam P (1993) Replacement feed sources 8,100 3,900 900 220 kg/yr Au; 3,100 t/yr Ni; 880 t/yr Cu 79South Africa Pandora P (2006) Deeper feed sources being 

developed

1,650 780 230 14 kg/yr Au; 340 kg/yr Ru; 80 kg/yr Ir 82

South Africa Pilanesberg P (2009) Capacity expected by 2012 4,800 2,100 800 70 kg/yr Au 11South Africa Platinum Mile 

(RPM tailings)

P (2008) Capacity expected by 2012 630 340 100 22 kg/yr Au 45

Table 1. Operations included for analysis in this report. A, Operations that meet at least one of the required criteria and B, Operations that did not meet the required criteria but were included for analysis.—Continued[A. Individual sites may include more than one mine if the operator treats ore from these mines as a single feed source for processing. Operations were included if mineral exploration from 1995 through 2010 has led to the development of a mine or an expansion of mine capacity, if a project was planned for production from 2011 through 2015, and if the proposed operation had a reported or expected capacity greater than 4,500 kilograms per year (kg/yr) of a single platinum-group metal (PGM) or 10,000 kg/yr of total PGMs or if PGMs were recovered as a byproduct of an operation with production more than 40,000 metric tons per year (t/yr) of contained copper or 15,000 t/yr of contained nickel in ore or as a recoverable product. B. Sites were included if company plans as of 2011 suggested the site might come online between 2016 and 2020 or if the resource was sufficiently large and plans were advanced enough to suggest that the site might be developed by 2020. Ag, silver; Au, gold; Co, cobalt; Cu, copper; Ir, iridium; NA, not applicable; Ni, nickel; Ru, rubidium]
8 Global Exploration and Production Capacity for Platinum-Group Metals from 1995 though 2015 A. Operations that meet at least one of the required criteria Country Operation Status 1 Capacity factors 2 Expected capacity in 2015 3 Average annual capacity utilization rate, percent 4 Platinum, kg/yr Palladium, kg/yr Rhodium, kg/yr Other commodities South Africa Rustenburg P (1929) Restructured in 2009; replacement feed sources 24,000 13,000 3,300 1,150 kg/yr Au; 6,300 t/yr Ni; 3,200 t/yr Cu 69 South Africa Smokey Hills P (2009) Capacity expected by 2012 1,100 1,140 230 34 kg/yr Au; 360 kg/yr Ru; 93 kg/yr Ir 24 South Africa Sylvania Dumps P (2006) Ongoing expansion 1,100 510 280 5 kg/yr Au 13 South Africa Twickenham D (2006) Limited production since 2006; full production expected by 2015 2,400 2,600 460 84 kg/yr Au 4 South Africa Two Rivers P (2006) Capacity achieved in 2010 4,700 2,700 870 90 kg/yr Au; 430 t/yr Ni; 210 t/yr Cu; 1,400 kg/yr Ru; 330 kg/yr Ir 83 South Africa Union Section P (1957) Replacement feed sources 10,000 4,800 1,700 180 kg/yr Au; 1,500 t/yr Ni; 600 t/yr Cu 95 South Africa Western Limb (Rustenburg) tailings P (2004) Grade depletion since 2005 1,400 550 120 160 kg/yr Au; 500 t/yr Ni; 200 t/yr Cu 90 United States East Boulder P (2002) Replacement feed sources 1,200 4,400 NA NA 84 United States Stillwater P (1987) Replacement feed sources 2,800 9,300 NA NA 94 Zimbabwe Mimosa P (1994) Deeper feed sources being 

developed

3,300 2,500 250 430 kg/yr Au; 2,600 t/yr Ni; 2,100 t/yr Cu 83

Zimbabwe Ngezi (Makwiro) P (2002) Replacement feed sources; 

phase 1 expansion by 2011, phase 2 by 2014

8,400 6,500 700 1,200 kg/yr Au; 640 kg/yr Ru; 300 kg/yr Ir; 

2,900 t/yr Ni; 1,000 t/yr Cu

64

Zimbabwe Unki P (2010) Full capacity expected by 

2013

2,200 1,500 NA 500 t/yr Cu; 1,500 t/yr Ni NA

Table 1. Operations included for analysis in this report. A, Operations that meet at least one of the required criteria and B, Operations that did not meet the required criteria but were included for analysis.—Continued[A. Individual sites may include more than one mine if the operator treats ore from these mines as a single feed source for processing. Operations were included if mineral exploration from 1995 through 2010 has led to the development of a mine or an expansion of mine capacity, if a project was planned for production from 2011 through 2015, and if the proposed operation had a reported or expected capacity greater than 4,500 kilograms per year (kg/yr) of a single platinum-group metal (PGM) or 10,000 kg/yr of total PGMs or if PGMs were recovered as a byproduct of an operation with production more than 40,000 metric tons per year (t/yr) of contained copper or 15,000 t/yr of contained nickel in ore or as a recoverable product. B. Sites were included if company plans as of 2011 suggested the site might come online between 2016 and 2020 or if the resource was sufficiently large and plans were advanced enough to suggest that the site might be developed by 2020. Ag, silver; Au, gold; Co, cobalt; Cu, copper; Ir, iridium; NA, not applicable; Ni, nickel; Ru, rubidium]
Site Assessments 

9

Table 1. Operations included for analysis in this report. A, Operations that meet at least one of the required criteria and B, Operations that did not meet the required criteria but were included for analysis.—Continued[A. Individual sites may include more than one mine if the operator treats ore from these mines as a single feed source for processing. Operations were included if mineral exploration from 1995 through 2010 has led to the development of a mine or an expansion of mine capacity, if a project was planned for production from 2011 through 2015, and if the proposed operation had a reported or expected capacity greater than 4,500 kilograms per year (kg/yr) of a single platinum-group metal (PGM) or 10,000 kg/yr of total PGMs or if PGMs were recovered as a byproduct of an operation with production more than 40,000 metric tons per year (t/yr) of contained copper or 15,000 t/yr of contained nickel in ore or as a recoverable product. B. Sites were included if company plans as of 2011 suggested the site might come online between 2016 and 2020 or if the resource was sufficiently large and plans were advanced enough to suggest that the site might be developed by 2020. Ag, silver; Au, gold; Co, cobalt; Cu, copper; Ir, iridium; NA, not applicable; Ni, nickel; Ru, rubidium]

B. Operations that did not meet the required criteria but were included for analysis

Country Operation Status 1

Expected capacity in 2015 3 Expected 

date of 

initial 

production

Platinum, 

kg/yr

Palladium, 

kg/yr

Rhodium, 

kg/yr Other commodities

Canada Thunder Bay North Scoping study completed in 2011 1,200 1,100 44 80 kg/yr Au; 1,000 kg/yr Ag; 3,200 t/yr Cu; 

1,200 t/yr Ni; 57 t/yr Co

2014

Canada Marathon Feasibility study completed in 2009 1,500 5,200 NA 540 kg/yr Au; 16,800 t/yr Cu; 226,000 kg/yr 

Ag

2015

China Yunnan Commenced production 2010 620 580 NA 800 t/yr Cu; 360 t/yr Ni 2010Russia Koryakgeoldobycha Limited, variable placer production 3,900 NA NA NA 1960South Africa Booysendal Development approved in 2010 2,300 1,300 270 130 kg/yr Au 2013South Africa Kalplats Feasibility study completed in 2010 1,300 1,100 820 80 kg/yr Au 2011South Africa Mareesburg Feasibility study completed in 2011 2,000 1,200 290 50 kg/yr Au 2013

1Status is as of 2010. D, site under construction in 2010; F, feasibility study at site was completed but construction had not yet started in 2010; P, site was producing in 2010. Figures in parentheses reflect 

first year of actual or expected production.

2Factors include mine or associated refinery expansions or development of new feed sources to replace or supplement existing capacity.3Capacities are in contained metal in concentrate or refined products and represent the maximum design capacity related to processing technology used or capacity related to mine and concentrator design 

technology.

4Reported capacity utilization figures reflect the ratio of the average actual production of the principal PGM from 2007 through 2010 to the estimated capacity for the principal PGM as of 2010.5Capacity figures include the Totten mine, which is scheduled to recommence production in 2012 and replace some of the existing capacity of the Ontario Division.6PGM capacity is derived from the Nickel Rim South mine.
10 Global Exploration and Production Capacity for Platinum-Group Metals from 1995 though 2015

into production. Table 4 lists the distribution of PGM 

reserves in 2010 for South African properties mining from 

the Eastern, Northern, and Western Bushveld in 1995 and 

2010 and properties expected to be mined by 2015. Because 

criteria used to determine a reserve may vary from operator to 

operator and site to site, caution should be used when drawing 

conclusions from the data reported in table 4. The data 

reported in table 4 reflect 2010 reserve estimates, so the data 

do not need to be adjusted for operational or commodity price 

changes from 1995 to 2010.

For the sites producing in 1995, the Western Bushveld 

accounted for about 88 percent of the rhodium reserves, 

79 percent of the platinum reserves, and 63 percent of the 

palladium reserves for South Africa, when compiled from 

company data from 2010; the Eastern Bushveld accounted 

for about 6 percent of the palladium reserves, 4 percent of 

the platinum reserves, and 4 percent of the rhodium reserves 

for the PGM mines in South Africa; and the Northern 

Bushveld accounted for 31 percent of the palladium reserves, 

17 percent of the platinum reserves, and 8 percent of the 

rhodium reserves. For the sites producing in 2010, the Western 

Bushveld accounted for about 75 percent of the rhodium 

reserve, 71 percent of the platinum reserve, and 55 percent of 

the palladium reserve in South Africa; the Eastern Bushveld 

contributions increased to about 21 percent of palladium 

reserves, 19 percent of rhodium reserves, and 16 percent of 

platinum reserves; and the Northern Bushveld accounted for 

22 percent of the palladium reserves, 12 percent of platinum 

reserves, and 6 percent of the rhodium reserves. When 

deposits expected to produce by 2015 are included, the Eastern 

Bushveld would account for an estimated 29 percent of the 

rhodium reserves, 27 percent of the palladium reserves, and 

25 percent of the platinum reserves.

The data on PGM grades compiled for this analysis do 

not appear to be significantly different from the data compiled 

by Cawthorn (1999), suggesting that, although mineralogy 

may change from site to site, between the Merensky Reef 

and UG2 seam, and between the Eastern Bushveld and the 

Western Bushveld, the overall distribution of individual PGMs 

has been found to be reasonably consistent, with an average 

platinum to palladium ratio of about 1.6 to 1. Consequently, it 

is expected that only minor variation in processing technology 

and recovery rates may occur over the next decade owing to 

variation in deposit mineralogy as more PGM ore is derived 

from the Eastern Bushveld.

Figure 3 shows a timeline for the development of 

additions to platinum capacity from the South African sites 

considered in this study for the period 1995 through 2015. 

Development timeframes are noted where capacity changes 

resulting from new mine production, development of new or 

replacement ore bodies to feed existing capacity, and (or) mine 

and refinery expansions have taken place or are planned by 

2015. Based on the data reported in figure 3, the anticipated 

capacity from the mines considered in this study in 2015 

would be nearly twice the capacity available in 1995.

Table 2. Operations not included for statistical analysis in this report but that may become operational between 2016 and 2020.

[Includes sites where the company plans as of 2011 suggested that the site would likely not come into production before 2020 or if expected capacity 

information was not available or less than the study cutoff level. NA, not available]

Country Operation Reason for exclusion Estimated 

capacity 1

Estimated 

year of first 

production

Finland Arctic Platinum Ongoing review of prior feasibility studies; production not expected 

before 2015

12,800 NA

Russia Fedorovo Tundra Property in feasibility stage; development on hold; production not 

expected before 2015

14,700 NA

South Africa Akanani Development delayed in 2009 pending improved economic 

conditions; original startup was planned for 2013

19,400 NA

Genorah (Garatau Tubatse) Property at feasibility stage; production not expected before 2015 12,400 2016

Leeuwkop Development delayed beyond 2018; studies to consider project 

viability were ongoing

5,300 NA

Sheba's Ridge Development delayed (property considered a lower priority); 

production not expected before 2015

10,900 NA

Styldrift Development delayed to 2017; capacity of 230,000 metric tons per 

month of ore had been planned as of 2007

7,600 2017

Nokomis (Maturi Extension) Property at prefeasibility stage; production not expected before 

2015

7,000 NA

NorthMet Property at feasibility stage with ongoing permitting; production 

not expected before 2015

3,400 2017

1

Capacity expressed in kilograms of recoverable platinum-group metal.
Site Assessments 11

Table 3. Operations unlikely to come into production before 2020.

[Includes sites where company plans as of 2011 suggested that the site would likely not come into production prior to 2020 or if expected capacity information 

was not available or less than the study cutoff level. NA, not available; kg/yr, kilograms per year; Pt, platinum; Pd, palladium; PGMs, platinum-group metals; ]

Country Operation Reason for exclusion Estimated 

capacity 1

Australia Panton Development delayed in 2008 pending improved economic conditions; status review 

planned for 2011

1,600

Tornio Property at early exploration stage; production not expected before 2015 NA

Russia East Pansky Property at early exploration stage; production not expected before 2015 NA

South Africa Aurora Property at prefeasibility stage; production not expected before 2015 NA

Boikgantsho (Drenthe) Property at prefeasibility stage; production not expected before 2015 NA

Der Brochen Property at prefeasibility stage; production not expected before 2015 NA

De Wildt Property at early exploration stage; production not expected before 2015 NA

Ga-Phasha Property at prefeasibility stage; production not expected before 2015 NA

Grootboom Property at prefeasibility stage; production not expected before 2015 2,700

Imbasa-Inkosi Property at early exploration stage; production not expected before 2015 NA

Kennedy’s Vale Development delayed (property considered a lower priority); production not 

expected before 2015

8,800

Kliprivier Property at early exploration stage; production not expected before 2015 NA

Kwanda (Platreef) Property at early exploration stage; production not expected before 2015 NA

Millennium Property at early exploration stage; production not expected before 2015 NA

Mooinooi (Phoenix) Property in feasibility stage; production expected in 2012 but at less than study 

cutoff level

390

Mooiplats Property at early exploration stage; production not expected before 2015 NA

M’Phatlele Development scaled back in 2009; production capacity is less than study cutoff level 7,800

Phosiri Property at early exploration stage; production not expected before 2015 NA

Rooderand Property at prefeasibility stage; production not expected before 2015 3,600

Sedibelo Property at feasibility stage; production not expected before 2015 7,500

Spitzkop Property at prefeasibility stage; production not expected before 2015; planned phase 

2 development after development of Mareesburg operation

NA

Tjate Prefeasibility level study due by end of 2010; production not expected before 2015 8,100

Volspruit Property at prefeasibility stage; company planned initial production in 2014 but at 

less than study cutoff level

4,400

United States Birch Lake Planned production capacity of 1,000 kg/yr of Pt and 2,100 kg/yr of Pd is below 

study cutoff level

3,100

Zimbabwe Hartley Production capacity at time of operation was less than study cutoff level; renewed 

production not anticipated

NA

1

Expressed in kilograms per year of recoverable PGMs.
12 Global Exploration and Production Capacity for Platinum-Group Metals from 1995 though 2015

Table 4. Selected South African platinum-group metal operations and projects.

[PGM, platinum-group metal; Pt, platinum; Pd, palladium; NA, not available]

A. Reserves for operations producing or expected to produce PGMs from 1995 through 2015, in metric tons

Property

Reserves 1

Pt:Pd

Platinum Palladium Rhodium

Operations in the Bushveld Complex in 1995

Eastern Bushveld, Bakoni (Lebowa) 164 139 21 1.2:1

Northern Bushveld, Mogalakwena (PPRust) 737 817 49 0.9:1

Western Bushveld:

Amandelbult 812 380 152 2.1:1

Impala 812 435 116 1.9:1

Lonrho 938 424 121 2.2:1

Northam 152 76 20 2.0:1

Rustenburg 503 261 67 1.9:1

Union Section 138 67 25 2.1:1

Total PGM production in the Bushveld Complex 4,256 2,599 571 1.6:1

Operations producing from 1995 through 2010

Eastern Bushveld:

Blue Ridge 2 40 19 7 2.2:1

Everest 3 37 19 6 2.0:1

Limpopo (Messina) 4 191 143 22 1.3:1

Marula 5 122 72 23 1.7:1

Modikwa 4 120 124 24 0.97:1

Mototolo6 35 19 6 1.7:1

Smokey Hills 2 8 9 2 1.0:1

Twickenham6 169 184 32 0.9:1

Two Rivers 

7 72 43 11 1.7:1

Mpumalanga Province, Nkomati, nickel-copper mine 8 28 85 NA 0.4:1

Western Bushveld:

Bafokeng-Rasimone 9 347 161 40 2.2:1

Crocodile River 9 75 31 12 2.4:1

Elandsfontein (Xstrata) 7 28 13 4 2.1:1

Kroondal 5 89 50 17 1.8:1

Kroondal tailings 3 NA NA NA NA

Marikana 4 60 31 11 1.9:1

Pandora 6 36 16 6 2.1:1

Pilanesberg2 80 37 9 2.2:1

Platinum Mile 10 58 17 NA 3.2:1

Sylvania dump operations 6 NA NA NA NA

Western limb tailings 5 58 18 NA 3.2:1

Total PGM production from 1995 through 2010 5,909 3,690 803 1.6:1

Operations where PGM production is not expected to begin before 2012 11

Eastern Bushveld:

Booysendal 12 802 401 124 2.0:1

Mareesburg 12 10 6 1 1.6:1
Site Assessments 13

A. Reserves for operations producing or expected to produce PGMs from 1995 through 2015, in metric tons

Property

Reserves 1

Pt:Pd

Platinum Palladium Rhodium

North West Province, Kalplats, Greenstone deposit 13 56 42 NA 1.2:1

Northern Bushveld, Volspruit 13 64 25 NA 2.6:1

Western Bushveld:

Elandsfontein PTM12 91 38 9 2.4:1

Ledig Frischgewaagd12 190 85 23 2.2:1

Mooinooi (Phoenix) 14 8 4 2 2.1:1

Total PGM production from reserves of operations producing from 1995 

through 2010 and expected to be producing by 2015

7,130 4,291 962 1.6:1

B. Percentages of reserves of PGMs, by region

Property Percentage of reserves 1Pt:Pd

Platinum Palladium Rhodium

Operations in the Bushveld Complex in 1995

Eastern Bushveld 4 6 4 1.2:1

Northern Bushveld 17 31 8 0.9:1

Western Bushveld 79 63 88 2.0:1

Operations producing from 1995 through 2010 (including Bushveld Complex operations)

Eastern Bushveld 16 21 19 1.3:1

Mpumalanga Province 0.55 2.30 NA 0.4:1

Northern Bushveld 12 22 6 0.9:1

Western Bushveld 71 55 75 2.1:1

All operations producing from 1995 through 2010 or expected to be producing by 2015

Eastern Bushveld 25 27 29 1.5:1

Mpumalanga Province 0.40 2 NA 0.4:1

North West Province 0.80 1 NA 1.2:1

Northern Bushveld 11 20 5 0.9:1

Western Bushveld 63 50 66 2.0:1

1

Estimates of reserves reported as “proven” or “probable” by the operator and assumed to represent the amount that could be economically extracted at the 

time of determination.

2

Production began in 2009.

3

Production began in 2005.

4

Production began in 2002.

5

Production began in 2004.

6

Production began in 2006.

7

Production began in 2007.

8

Production began in 1997.

9

Production began in 2000.

10Production began in 2008.

11Resource estimates reported as “measured” or “indicated” by the operator based on a level of drilling sufficient to assume continuity between points of 

observation. Economic viability of the resource has not been determined. These operations were not included in the analysis for this report but were included 

in this table to show expected changes in reserves or resources of selected metals.

12Production expected in 2013.

13Production expected in 2014.

14Production expected in 2012.

Table 4. Selected South African platinum-group metal operations and projects.—Continued

[PGM, platinum-group metal; Pd, palladium; Pt, platinum; Rh, rhodium; NA, not available]
14 Global Exploration and Production Capacity for Platinum-Group Metals from 1995 though 2015

Platinum Mileand SylvaniaDump tailingsprojectscommencedproduction

Some operationsreopened mines, others continued todelay developmentplans

Blue Ridge, Pilanesberg,and Smokey Hills operations commenced production; global economic conditions continued to limit or delay development or expansion plans

Elandsfonteinproject commencedproduction; as aresult of geologic, labor, andsafety-relatedissues, someplanned capacityexpansions werecancelled ordelayed

Kalplats, LedigFrischgewaagdoperations expected to commence production

Amandelbult, PPRust (Magalakwena), and Northam mines and 

associated processing facilities commenced capacity expansion

Everest and Kroondal tailings projects commenced production; capacity expansion at Lonrho facilities and Kroondal

Motolo, Pandora, and Two Rivers projects commenced production; Crocodile River achieved full capacity

Booysendal, ElandsfonteinPTM, and Mareesburg operations expected tocommence production

ElandsfonteinPTM mine and

associated

facilities expect toachieve full

capacity; Lebowa(Bakoni) expectedto complete capacityexpansion

BafokengRasimone project commenced production

Kroondal project commencedproduction

Amandelbult, PPRust (Magalakwena), and Northam

minescompleted capacity expansions

Nkomati project commencedproduction

Crocodile River project commencedproduction

Madikwa and Messina (Limpopo) projects commenced production; Marikana project commenced production

Marula and Western Limb tailings projects commencedproduction

1995

1997

1998

1999

2000

2001

2002

2004

2005

2006

2007

2008

2009

2010

2013

2014

2015

0

755025

250225200175150125100

Production capacity of platinum in South Africa, in thousand kilograms

Figure 3. Production capacity of platinum and a timeline of significant events (actual and planned) related to changes in platinum capacity in South Africa. Data are from Cowley and Steel (2001, p. 17), Kendall (2003, p. 14; 2004, p. 16–21), Johnson Matthey plc (2010), and Butler (2011, p. 16–20).
Site Assessments 15

Platinum annual production capacity increased by about 

60,000 kg from 1995 through 2006 as exploration delineated 

new areas, new projects were brought into production, and 

some operating mines were expanded. The total South African 

platinum capacity increased by about 50 percent during 

this period.

Platinum annual production capacity increased by about 

18,000 kg from 2007 through 2010. The overall increase 

was lower than previously forecast by operators because of 

domestic energy shortages, labor and safety issues, increased 

costs associated with the mining of deeper deposits, as well 

as the effects of the global economic recession of 2008 and 

2009 on the demand for industrial products and vehicles 

that use PGMs for components which led to temporary mine 

closures and delays in mine expansion and development. 

These conditions encouraged many companies to reduce or 

curtail mineral production and delay mine expansion and 

development plans until the global economy began to recover 

and industrial demand again began to increase. Based on data 

compiled from industry sources by the USGS, the estimated 

capacity utilization rate of South African PGM mines 

decreased from 96 percent in 2006 to 73 percent in 2010.

Although plans for some project expansions or new 

development were delayed, exploration or development 

of a few advanced-stage projects with committed funding 

continued. Some mines reopened in 2010, while others were 

reevaluating production or development plans. A few projects 

were expected to come online from 2011 and 2015, although 

development of other projects would be deferred beyond 

2015. The data collected during this study suggest that the 

annual platinum capacity in South Africa would increase by 

about 24,000 kg from 2011 through 2015. This represents an 

increase of about 13 percent from South Africa’s platinum 

production capacity in 2010.

PGMs recovered from South Africa are derived from a 

mix of large, well-established integrated operations managed 

by large companies and newer, smaller mines operated under 

joint-venture agreements between major producers and junior 

companies. Because the PGM-rich areas of South Africa 

have been identified since the 1920s and have been well 

explored, exploration associated with the deposits developed 

since 1995 has focused on delineating replacement ore zones 

adjacent to producing areas and updating reserve estimates for 

mineralized zones at depth. A discussion of the principal mines 

and developing deposits in South Africa follows.

Anglo Platinum Limited (Anglo) is the world’s leading 

producer of PGMs and accounted for about 42 percent of 

the world’s platinum production and about 22 percent of 

the world’s palladium production in 2010 (Anglo Platinum 

Limited, 2010). The company’s interests in South Africa 

included the Rustenburg operation, the Amandelbult operation, 

the Mogalakwena (PPRust) mine, the Twickenham mine, and 

the Western limb tailings project. The Rustenburg operation 

opened in 1929 on the Western Bushveld and, in 2010, had a 

capacity of about 40,000 kg/yr of recoverable PGMs (table 1) 

from the Bathopele, Khomanani, Khuseleka, Siphumelele, 

and Thembelani mines. The Amandelbult operation opened 

in 1929 on the Western Bushveld and, in 2010, had a capacity 

of 29,000 kg/yr of recoverable PGMs from the Dishaba and 

Tumela mines. The Mogalakwena (PPRust) mine opened in 

1993 on the Northern Bushveld and, in 2010,had a capacity 

of 18,000 kg/yr of recoverable PGMs. The Twickenham mine 

opened in 2005 on the Eastern Bushveld as a pilot plant and, 

in 2010, had a capacity of 670 kg/yr of recoverable PGMs; 

full capacity at the Twickenham mine was expected to be 

5,500 kg/yr of recoverable PGMs by 2015. The Western limb 

tailings project opened in 2004 to recover PGMs from tailings 

derived from mining the Western Bushveld and, in 2010, had a 

capacity of 2,100 kg/yr of recoverable PGMs. Ore from these 

operations feeds company-operated concentrating facilities, 

smelters, and refineries in South Africa.

In addition, Anglo has a number of joint-venture projects. 

The Union Section mine opened in 1957 on the Western 

Bushveld and, in 2010, had a capacity of 16,500 kg/yr of 

recoverable PGMs. The Bokoni (Lebowa) mine opened in 

1969 on the Eastern Bushveld and, in 2010, had a capacity of 

7,300 kg/yr of recoverable PGMs; capacity was expected to 

increase to 8,900 kg/yr of recoverable PGMs by 2014. The 

Bafokeng-Rasimone mine opened in 1999 on the Western 

Bushveld and, in 2010, had a capacity of 9,000 kg/yr of 

recoverable PGMs. The Marikana mine opened in 2002 

on the Western Bushveld and, in 2010, had a capacity of 

4,700 kg/yr of recoverable PGMs. The Modikwa mine opened 

in 2002 on the Eastern Bushveld and, in 2010, had a capacity 

of 9,400 kg/yr of recoverable PGMs. The Kroondal mine 

opened in 2004 on the Western Bushveld and, in 2010, had a 

capacity of 13,100 kg/yr of recoverable PGMs. The Mototolo 

mine opened in 2006 on the Eastern Bushveld and, in 2010, 

had a capacity of 6,500 kg/yr of recoverable PGMs. The 

Pandora mine opened in 2006 on the Western Bushveld and, in 

2010, had a capacity of 3,100 kg/yr of recoverable PGMs.

Exploration activities from 1995 through 2009 provided 

sufficient data to justify development of seven new mines 

and one tailings reprocessing facility with a combined 

capacity of 62,400 kg/yr of recoverable PGMs. In addition, 

the company has a number of projects at the prefeasibility or 

feasibility stages, but none of them are expected to come into 

production before 2015. The Styldrift project is perhaps the 

most advanced, and could potentially produce 7,600 kg/yr 

of recoverable PGMs; however, initial production is not 

planned before 2017. The company’s smelting and refining 

operations, wholly owned and located in South Africa, were 

upgraded or expanded at various times during the study period 

to accommodate the expanded capacity from company-owned 

and joint-venture mines (Anglo Platinum Limited, 2010).

Impala Platinum Holdings Limited (Impala) is South 

Africa’s second leading vertically integrated PGM producer. 

The Impala mine, the company’s leading producer, opened in 

1969 on the Western Bushveld and, in 2010, had a capacity of 

53,300 kg/yr of recoverable PGMs. The Marula mine opened 

in 2004 on the Eastern Bushveld and, in 2010, had a capacity 

of 7,000 kg/yr of recoverable PGMs. Impala is a joint-venture 
16 Global Exploration and Production Capacity for Platinum-Group Metals from 1995 though 2015

partner with African Rainbow Minerals Limited on the Two 

Rivers mine, which opened in 2006 on the Eastern Bushveld 

and, in 2010, had a capacity of 7,700 kg/yr of recoverable 

PGMs. An expansion to 10,000 kg/yr of recoverable PGMs is 

planned by 2013 (Smit, 2010). Impala manages the Leeuwkop 

project that is currently in the feasibility stage; the project was 

not expected to produce before 2015. Impala also operates 

two PGM mines in Zimbabwe (Impala Platinum Holdings 

Limited, 2010).

Lonmin plc is the world’s third leading verticallyintegrated PGM producer. Approximately 92 percent of 

Lonmin’s production comes from the Lonrho Platinum 

Division, supplied by the Eastern Platinum, Karee, and 

Western Platinum mines in the Marikana area. The Western 

Platinum operation opened in 1975 on the Western Bushveld, 

the Eastern Platinum operation opened in 1989, and the Karee 

mine opened in 1990, at which point, the three operations were 

integrated into a single operation. In 2010, the operation had 

a combined capacity of 54,700 kg/yr of recoverable PGMs. 

The company operated the Limpopo (Messina) mine, which 

opened in 2002 on the Eastern Bushveld and, in 2010, had a 

capacity of 2,500 kg/yr of recoverable PGMs. The mine was 

placed on care and maintenance in 2009. The company was 

conducting ongoing exploration for additional resources and 

was involved in a joint-venture agreement associated with the 

Pandora mine and several PGM exploration and development 

projects in South Africa (Lonmin plc, 2010).

Platmin Limited is a mid-tier producer of PGMs in South 

Africa. The company’s primary asset is the Pilanesberg mine, 

which opened in 2009 on the Western Bushveld and, in 2010, 

production was increasing to reach the design capacity of 

7,700 kg/yr of recoverable PGMs by 2012. The company was 

also involved in joint-venture agreements associated with the 

Mphahlele PGM project, in which a feasibility study assessed 

a 7,800-kg/yr PGM operation, and several early-stage PGM 

exploration projects in South Africa (Platmin Limited, 2010).

Aquarius Platinum Limited is a mid-tier producer of 

PGMs with interests in seven operating mines in South 

Africa and Zimbabwe. In South Africa, it operates the 

Everest mine, which opened in 2005 on the Eastern Bushveld 

and, in 2010, had a capacity of 6,200 kg/yr of recoverable 

PGMs. The company operates the Kroondal and Marikana 

mines under a joint-venture agreement with Anglo. It also 

manages the Kroondal tailings project, which opened in 

2005 on the Western Bushveld and, in 2010, had a capacity 

of 310 kg/yr of recoverable PGMs, under a joint-venture 

agreement with Sylvania Resources Limited and Ivanhoe 

Nickel and Platinum Limited. Aquarius Platinum Limited 

has a joint-venture agreement with Mvelaphanda Holdings 

(Pty.) Limited to operate the Platinum Mile mine (Rustenberg 

platinum minetailings), which opened in 2008 on the Western 

Bushveld and is expected to achieve a capacity of 1,100 kg/yr 

of recoverable PGMs by 2012.In 2009, the company opened 

the Blue Ridge mine on the Eastern Bushveld, which is being 

developed with a capacity of 4,300 kg/yr of recoverable 

PGMs by 2012. Since 1995, the company has increased its 

refining capacity by 12,700 kg/yr to accommodate increased 

production from new or expanded mining operations and 

PGM tailings operations. In addition to ongoing exploration 

activities associated with its producing operations, the 

company is managing exploration and development activities 

at the Sheba’s Ridge project. A 2008 feasibility study 

considered an operation with a capacity of 10,900 kg/yr of 

recoverable PGMs (Aquarius Platinum Limited, 2010). Initial 

production would likely occur after 2015.

Xstrata plc. became a mid-tier PGM producer in 

2007 when it acquired Eland Platinum Holdings Limited 

and its assets, including the Eland mine (formerly called 

Elandsfontein). The mine opened in 2007 on the Western 

Bushveld and had an initial capacity of 4,100 kg/yr of 

recoverable PGMs. The company was planning an expansion 

of the mine and associated processing operations, which 

would increase the capacity to 9,300 kg/yr of recoverable 

PGMs by 2015, but development was delayed owing to 

difficulties in securing mining rights. The company has jointventure agreements with Anglo to operate the Mototolo mine 

and with Nkwe Platinum Limited to conduct exploration and 

development activities at the Genorah Farms and Tubatse 

projects. A feasibility study in 2010 evaluated a combined 

operation capable of producing up to 12,400 kg/yr of 

recoverable PGMs. It is not expected that this operation would 

commence production before 2015 (Xstrata plc, 2010).

Northam Platinum Limited is an independent integrated 

PGM producer conducting ongoing exploration activities 

and operating the Northam mine, which opened in 1993 

on the Western Bushveld and, in 2010, had a capacity 

of 12,900 kg/yr of recoverable PGMs. The company is 

developing the Booysendal project on the Eastern Bushveld. 

The plan for the mine in 2010 envisioned initiation of a phase 

1 production in 2013 with an expected capacity of 3,900 kg/yr 

of recoverable PGMs; a phase 2 operation, bringing capacity 

to 7,600 kg/yr of recoverable PGMs, was planned for 2016 

(Northam Platinum Limited, 2010).

Eastern Platinum Limited is a junior PGM producer 

that operates the Crocodile River mine. The mine opened in 

2000 on the Western Bushveld and, in 2010, had a capacity 

of 4,100 kg/yr of recoverable PGMs. The company managed 

several exploration and development projects on the Eastern 

Bushveld. The first project under development is the 

Mareesburg project, which was expected to begin production 

in early 2013 at a capacity of 3,500 kg/yr of recoverable 

PGMs (Eastern Platinum Limited, 2010).

African Rainbow Minerals Limited is a junior South 

African minerals company that is participating in a series of 

joint-venture agreements. The company has entered a jointventure agreement with MMC Norilsk Nickel in Mpumalanga 

Province on the Nkomati nickel-copper-chrome-PGM mine, 

which opened in 1997 and which, after completion of an 

expansion project in 2010, has a capacity of 3,400 kg/yr of 

recoverable PGMs. The company also has joint- venture 

agreements with Anglo to operate the Modikwa mine, with 

Impala to operate the Two Rivers mine, and with Platinum 
Site Assessments 17

Australia Limited on the Kalplats project, a feasibility-stage 

PGM project in the Kraaipan Greenstone Belt with a planned 

capacity of 3,200 kg/yr of recoverable PGMs (African 

Rainbow Minerals Limited, 2010).

Wesizwe Platinum Limited is a junior South African 

PGM company managing the exploration and development 

activities of the Ledig Frischgewaagd project on the Western 

Bushveld. The company secured financing for development 

at the end of 2010, was planning initial production in 2014, 

and anticipated achieving a capacity of 10,700 kg/yr of 

recoverable PGMs by 2019 (Wesizwe Platinum Limited, 

2010). The company is involved in a joint venture with 

Platinum Metals Group Limited to explore and develop the 

Elandsfontein PTM (WBJV) project on the Western Bushveld 

by 2013. This project will have an estimated capacity of 8,300 

kg/yr of recoverable PGMs.

Platinum Australia Limited is a junior PGM company, 

which opened the Smokey Hills mine on the Eastern 

Bushveld in 2009. The company expected the mine to reach 

its full capacity of 2,900 kg/yr of recoverable PGMs by 

2012. The company is involved in a joint venture to explore 

the Rooderand project on the Western Bushveld, an earlystage exploration project that is not expected to commence 

production before 2015 (Platinum Australia Limited, 2010).

Sylvania Platinum Limited was conducting exploration 

and prefeasibility work at the Volspruit project. The company 

planned to begin a feasibility study in 2011 for a 4,400-kg/yr 

PGM operation targeted for initial production in 2014, but 

significant production before 2015 was not likely to take place 

(McConnachie, 2010)

Russia

The USGS estimated that about 13 percent of the global 

platinum production and 42 percent of global palladium 

production came from Russia in 2010. Despite the importance 

of the Russian PGM production on global markets, useful 

information on PGM reserves, production, and sales have 

historically been difficult to acquire because data were deemed 

to be confidential under the Russian state secrecy law until 

2005, when portions of this law were repealed (Levine, 

Brininstool, and Wallace, 2010). MMC Norilsk Nickel 

(Norilsk Nickel) produces about 95 percent of the PGMs 

recovered in Russia from the nickel-copper sulfide deposits in 

the Noril’sk-Talnakh area of Siberia and the Kola Peninsula.

Norilsk Nickel produces copper, nickel, PGMs, and other 

metals in two areas of Russia. The Polar Division is the largest 

and operates seven producing mines and two metallurgical 

processing plants in the Noril’sk-Talnakh area of the Taimyr 

Peninsula to produce nickel and copper cathodes, cobalt 

matte, and PGM concentrate. For this study, the seven mines 

considered part of the Polar Division (Komsomolsky, Mayak, 

Medvezhy Ruchey, Oktyabrsky, Skalisty, Talmyrsky, and 

Zapolyarny) have been combined as the Taimyr Peninsula 

operation because individual mine statistics are not reported 

separately. The Kola Division of Norilsk Nickel operated 

three mines and a metallurgical processing facility on the Kola 

Peninsula to produce nickel and copper cathodes, carbonyl 

nickel, and cobalt and PGM concentrate. For this study, the 

three mines included in the Kola Division (Kaula-Kotselvaara, 

Severny, and Tsentralny) have been combined as the Kola 

Peninsula operation (MMC Norilsk Nickel, 2010c).

The Noril’sk-Talnakh ore bodies are hosted in a sequence 

of layered ultramafic sills. Although thicker than the reefs 

mined in South Africa, they are more variable in grade and 

PGM composition, and the palladium grade is generally higher 

than in the Bushveld Complex. Three types of ore are mined:

• massive nickel-rich sulfide ores with a typical PGM 

content ranging from 9 to 13 grams per metric ton (g/t) 

with a palladium-to-platinum ratio from 3:1 to 4:1

• cuprous sulfide ores with a typical PGM content ranging 

from 8 to 11 g/t and a palladium-to-platinum ratio from 

4:1 to 4.5:1

• sulfide ores hosting disseminated PGMs with a typical 

PGM content ranging from 3 to 9 g/t and a palladium-toplatinum ratio from 2.5:1 to 3.6:1

The identified resources in the region have been classified as 70 

percent disseminated, 16 percent nickel-rich, 9 percent cuprous, 

and 5 percent pyrrhotitic tailings (Levine and Wilburn, 2003).

Continued exploration in an established mining district can 

lead to the discovery of additional ore zones and expansion or 

further delineation of deposits. Changes in the global economy 

and markets can result in a shift in demand for individual 

metals, and mining operations that are best positioned to adjust 

to such changes in metal demand have an economic advantage. 

Consequently, it is essential for a company such as Norilsk 

Nickel that produces a variety of metals from multiple sources 

to efficiently use exploration data to identify ore zones that have 

the greatest potential to maximize profit without compromising 

the integrity of the ore body and to adjust mining activities to 

meet this changing metal demand.

Most of the district’s base-metal production since World 

War II originated from the mining of nickel-rich ores, of which 

PGMs accounted for about 24 percent of the value of the ore. 

Although PGM grades may have been significant, PGMs 

were a minor byproduct of base-metal production. From 1998 

through 2001, prices for PGMs, most notably palladium, 

increased, thereby increasing the value of the PGMs in the 

ore and making it economical to mine the disseminated ore 

at the older mines for PGMs, which accounted for about 

54 percent of ore value from this type of deposit. In 2000, 

nickel-rich ores constituted 79 percent of the Polar Division’s 

PGM production by weight, cuprous ores accounted for about 

11 percent, disseminated ores accounted for about 10 percent, 

and pyrrhotitic tailings accounted for a negligible amount 

of production (Levine and Wilburn, 2003). By 2010, about 

43 percent of the production from the Polar Division was 

derived from nickel-rich ores, 35 percent came from cuprous 

ores, and 22 percent came from disseminated ores (MMC 

Norilsk Nickel, 2010b). In 2010, PGMs accounted for about 
18 Global Exploration and Production Capacity for Platinum-Group Metals from 1995 though 2015

25 percent of the total value of mine production for the Polar 

Division. By 2015, the distribution of ore production was 

expected to be 34 percent nickel-rich ores, 31 percent cuprous 

ores, and 35 percent disseminated ores, so PGMs are expected 

to contribute a greater percentage of the total value of mine 

production than in 2010.

Several significant changes occurred from 1995 through 

2010 at the Polar Division mines. In addition to continued 

base-metal recovery, Norilsk Nickel placed an increased 

emphasis on recovering PGMs. There was a gradual shift 

from mining nickel-rich ore to cuprous ore at the Oktyabrsky 

mine, and there was an increase in production of disseminated 

ores from the Medvezhy Ruchey and Zapolyarny mines. The 

nickel-rich Skalisty mine came into production in 1997 and 

reached a capacity of 2 million metric tons per year of ore in 

2005 (MMC Norilsk Nickel, 2010b).

Based on Norilsk Nickel’s production plan to 2025, the 

most significant changes expected from 2010 through 2014 

for the Taimyr Peninsula operations would be an increase 

in production of disseminated ore from the Komsomolsky 

mine and nickel-rich ore from the Skalisty mine and an 

anticipated decrease in production of disseminated ore from 

the Medvezhy Ruchey mine (MMC Norilsk Nickel, 2010b). 

If the expected changes occur, then the overall PGM capacity 

at the Taimyr Peninsula operations would increase by about 

26,000 kg/yr, or 8 percent, by 2015. The percentage of 

production of PGMs from disseminated ore, which derives 

more than one-half of its value from these metals, would be 

greater than either nickel-rich ore or cuprous ore by 2015.

The most significant changes that occurred during the 

study period at the Kola Peninsula operations included the 

development of replacement feed sources for mines nearing 

depletion. The newer mines were generally at greater depths 

and of higher grade than the sources being replaced; there 

was increased processing of low-grade ores to optimize 

capacity loading at the concentrator stage. (MMC Norilsk 

Nickel, 2010b).

As much as 10,000 kg/yr of platinum has historically 

been recovered from placer deposits in the Ural Mountains and 

Siberia, mined by small private production companies called 

artels (Levine, Brininstool, and Wallace, 2010). Production of 

platinum from alluvial placer deposits in Siberia, the leading 

of which is Koryakgeoldobycha, has generally been stable in 

the 3,000- to 4,000-kg/yr of platinum range since 1990. Based 

on current trends, future production from this area should 

continue at this level at least until 2015. A feasibility study 

was conducted by Barrick Gold Corporation on the Fedorovo 

Tundra project in 2008 for an operation capable of yielding 

up to 14,700 kg/yr of recoverable PGMs. Development of 

the project was suspended in 2009. PGM production from 

alluvial placers in the Ural Mountains was thought to be less 

than 350 kg/yr. Sustained production from individual placer 

deposits in Russia was below the cutoff level used in this 

study so these deposits were not included for analysis.

With the long history of nickel-copper production in 

the Noril’sk-Talnakh region and the relatively low historical 

recovery of PGMs from established mines, the accumulation 

of mine waste stockpiles and mill tailings have become an 

important source of PGMs in Russia, especially during periods 

of high PGM prices. Norilsk Nickel began recovering PGMs 

from mill tailings about 1999, and additional concentrator 

capacity was being allocated to process stockpiled pyrrhotitic 

tailings with an average PGM content of about 8 g/t (Levine 

and Wilburn, 2003).

Zimbabwe

PGMs were discovered in the Great Dyke of Zimbabwe 

during the early 20th century at about the same time as the 

discovery of the Bushveld Complex in neighboring South 

Africa. The first commercial production of PGMs from the 

Great Dyke occurred with the opening of the Hartley mine 

in 1997. The mine operated until 1999 when it was closed 

owing to engineering problems and low productivity. Union 

Carbide Corporation commenced a small pilot operation at 

the Mimosa mine in 1994. Mimosa Investments Limited, a 

joint venture between Impala and Aquarius, purchased rights 

to the property in 2001–02 and placed the site into production. 

Capacity had reached about 5,750 kg/yr of recoverable PGMs 

by 2010 and was expected to have a capacity of 6,100 kg/yr 

of recoverable PGMs by 2014. The Ngezi mine is operated by 

a subsidiary of Impala and commenced production in 2002. 

A phase 1 expansion program designed to phase out the open 

pit mining in favor of underground mining was completed 

in 2010, increasing production capacity to 10,500 kg/yr of 

recoverable PGMs. A phase 2 expansion to increase capacity 

to 16,500 kg/yr of recoverable PGMs was expected to be 

completed by 2014 (Butler, 2011, p. 22). The Unki project, 

owned by Anglo, commenced production at the end of 2010; 

by 2014, production capacity was expected to be 3,700 kg/yr 

of recoverable PGMs.

Investment in PGM mining in Zimbabwe was gradual 

during the study period, inhibited in part by an uncertain 

political climate. Legislation proposed in 2010 that would 

require that large corporations have 51 percent domestic 

ownership has continued this uncertainty, causing Fraser 

Institute to rank Zimbabwe last in the “Uncertainty 

Concerning the Administration, Interpretation, and 

Enforcement of Existing Regulations” category of its 

2009/2010 annual survey (McMahon and Cervantes, 2010, 

p. 24).

Canada

Most of the PGMs recovered from mining in Canada 

are byproducts of nickel-copper ores in the Sudbury Basin in 

Ontario. Palladium is the predominant PGM, with platinum 

the subordinate commodity. Mining in the region began as 

early as 1885, but it was not until 1908 that commercial 

production of PGMs began by International Nickel Company 

[which became Inco and is now owned by Companhia 
Site Assessments 19

Vale do Rio Doce (Vale)]. In 1924, Inco opened a refinery 

at Acton, United Kingdom, to refine the PGMs contained 

in copper matte from the Sudbury Basin. As of 2009, the 

Ontario Division of Vale recovered PGMs from six nickelcopper mines with a combined capacity of 12,800 kg/yr of 

recoverable PGMs. Vale is redeveloping the Totten mine to 

replace a portion of the capacity of the Ontario Division after 

full production is achieved in 2013; the redevelopment would 

allow up to 2,500 kg/yr of refined PGMs to be recovered from 

the nickel-copper ores at Totten.

Mining of PGMs contained in nickel-copper ores from 

the Sudbury Basin by Falconbridge Limited began in 1927; 

Falconbridge was acquired by Xstrata plc in 2006. PGMs 

are recovered at the Nikkelverk refinery in Norway. The 

Sudbury operations of Xstrata have historically consisted of 

multiple mines producing copper, nickel, and PGMs. By 2009, 

however, because of poor economic conditions and declining 

ore grades, these operations were restructured so that the 

Nickel Rim South mine would be the only source of PGMs. 

The Nickel Rim South mine commenced production in 2009 

and was expected to recover up to 3,100 kg/yr of recoverable 

PGMs from nickel-copper matte by 2011 (Xstrata plc, 2010, 

p. 14).

The Lac des Iles mine, operated by North American 

Palladium Ltd., is the only Canadian mine where PGMs 

are the primary product. Commercial open pit production 

commenced in 1993; underground mining commenced in 

2005 to recover PGMs from a deeper, higher grade deposit. 

Before being placed on care and maintenance in 2008 owing 

to global economic conditions, the mine had produced up to 

9,700 kg of PGMs annually. Mining resumed in 2010 after 

PGM prices increased. A new underground zone was being 

developed that was expected to reach a capacity of 8,300 kg/

yr of recoverable PGMs by 2013 (North American Palladium 

Ltd., 2010).

Another source of PGMs in Canada is the Raglan nickelcopper mine operated by Xstrata, which opened in 1997 on the 

Nunavik Peninsula in Quebec. In 2010, the mine had a capacity 

of about 3,900 kg/yr of recoverable PGMs. If ore from a newly 

identified zone is developed as planned, new feed sources 

would come into production in 2012, 2014, and 2016, and PGM 

capacity would increase to 6,000 kg/yr of recoverable PGMs by 

the end of 2016 (Xstrata plc, 2011, p. 22).

The Levack Complex nickel-copper deposits in the 

Sudbury Basin was developed by FNX Mining Company 

Inc. (which merged with Quadra Mining Ltd. in 2010 to 

form Quadra FNX Mining Ltd.] and began production in 

2004. PGMs are currently recovered from ore mined from 

the Levack, McCreedy West, and Podolsky deposits with an 

estimated capacity of 2,100 kg/yr of recoverable PGMs in 

2010 (FNX Mining Company Inc., 2010).

With its purchase of Marathon PGM Corporation in 

2010, Stillwater Mining Company announced plans to pursue 

the development of the Marathon PGM property in Ontario. 

Based on a 2010 feasibility study update, the operation 

would have a capacity of 7,600 kg/yr of recoverable PGMs. 

Production at the site was estimated to begin in 2013, and full 

production would likely be achieved after 2015 (Murahwa and 

others, 2010).

Magma Metals Limited was conducting ongoing 

exploration at the Thunder Bay North project in Ontario. This 

prefeasibility-stage project was planned to have a capacity 

of 1,200 kg/yr of recoverable platinum and 1,100 kg/yr of 

recoverable palladium. Initial production could occur as early 

as 2014 (Magma Metals Limited, 2011).

United States

Virtually all the PGM production in the United States 

comes from the Stillwater Complex in Montana. Two PGM 

mines (the Stillwater and the East Boulder mines) are 

currently in production, both operated by Stillwater Mining 

Company (which had been owned by MMC Norilsk Nickel 

in 2010). Palladium accounts for about 77 percent of the 

PGMs extracted from the complex, with the remainder being 

mostly platinum. The Stillwater mine opened in 1987 and, in 

2010, had a capacity of 12,100 kg/yr of recoverable PGMs. 

The East Boulder mine opened in 2002 and, in 2010, had a 

production capacity of 5,600 kg/yr of recoverable PGMs. 

The company conducts extensive exploration in an effort to 

maintain ore supplies and, since 1997, has been recovering 

an increasing amount of PGMs from spent catalytic 

converters at the Montana facility (MMC Norilsk Nickel, 

2010a, p. 21). Small quantities of PGMs were also recovered 

as byproducts of copper refining operations in Texas and 

Utah.

PGMs are also present in the Duluth ultramafic complex 

in Minnesota. The most advanced project is the PolyMet 

Mining Inc.’s NorthMet copper-nickel project, which was 

undergoing an environmental impact statement review 

in 2010. Based on a 2006 feasibility study, the project 

could produce about 3,000 kg/yr of refined PGMs, and 

first production was planned for 2017 (Polymet Mining 

Incorporated, 2009). Duluth Metals Limited was conducting 

early-stage exploration work at the Nokomis (Maturi 

Extension) copper-nickel-PGM project and the Birch Lake 

(Maturi) copper-nickel-PGM project; these projects were not 

expected to commence production before 2015.

Other Areas

The Jinchuan nickel-copper mine in China has been 

operated by the Jinchuan Group Ltd. from the time it opened 

in 1963. In 2009, the mine had the capacity to produce up 

to 2,600 kg/yr of recoverable PGMs. The operation was 

reportedly undergoing an expansion to increase nickel and 

copper production; a higher PGM capacity was not reported 

but would be likely (Jinchuan Group Ltd., 2010). 

Yunnan Copper Corporation Ltd.’s Yunnan coppernickel-PGM mine in China was reported to have commenced 
20 Global Exploration and Production Capacity for Platinum-Group Metals from 1995 though 2015

production in 2010, with an estimated capacity of 1,200 kg/yr 

of recoverable PGMs.

Tati Nickel Mining Company (Pty.) Ltd. [a subsidiary 

of Norilsk Nickel Africa (Pty.) Ltd.] recovers PGMs from 

the Phoenix nickel-copper mine and affiliated facilities in 

Botswana. The mine commenced production in 1995 and, by 

2010, was recovering up to 3,900 kg/yr of refined PGMs from 

copper-nickel matte (MMC Norilsk Nickel, 2010a, p. 55). 

Some of the matte is sent to the Harjavalta refinery in Finland 

for further processing. Ongoing processing modifications may 

reduce PGM recovery to 2,800 kg/yr of recoverable PGMs.

Small quantities of PGMs are recovered as a byproduct 

of nickel and copper mining in Brazil. Nickel-copper matte 

is produced at the Fortaleza smelter from local mining 

operations, which is sent to the Harjavalta refinery in Finland 

for additional processing and PGM recovery.

Nickel-copper mines in Australia have historically 

produced an aggregated total of less than 1,000 kg of PGMs 

annually. Individual mines have a PGM capacity lower 

than the study cutoff, so were not included in this analysis. 

Although there are many base- or precious-metal projects in 

Australia that reportedly contain PGMs, the Panton PGMnickel-copper project is the most advanced of these projects. 

In 2008, a feasibility study evaluated the project using a 

design capacity of 1,500 kg/yr of recoverable PGMs. Since 

2008, the project has been on hold, but the company was 

considering reviewing the viability of the project in light of 

increased PGM prices. It is unlikely that this project will be in 

production by 2015.

Estimates of Primary PGM Capacity

After reviewing the data available for the PGM mines 

and projects presently producing, under development, and 

planned for development prior to 2015, estimates were 

developed for the historical and potential capacity for 

production of palladium and platinum from primary sources 

from 1995 through 2015. PGM capacity from secondary 

sources (recycled products containing PGMs) was not 

considered. Capacity estimates for the PGMs iridium, osmium, 

and ruthenium have been reported in tables 1–3, but have 

not been analyzed separately because these PGMs would be 

recovered as byproducts from mines producing copper, nickel, 

palladium, or platinum. Estimates reflect the total refined 

capacity for each of the PGMs that could be recovered after 

mining and processing if the site were operating at design 

capacity. For vertically integrated operations, the PGM 

capacity of processing facilities associated with the site was 

considered when estimating site capacity. When mineral 

recovery is listed as less than 100 percent, capacity values are 

higher than production values.

Estimates of growth in global production capacity 

for platinum metal for operations considered in this 

analysis from 1995 through 2015 based on actual or 

anticipated capacity are shown in figure 4. Similarly, figure 

5 summarizes the estimated growth in global production 

capacity for palladium metal from 1995 through 2015. 

Global production capacity for platinum metal increased by 

about 57 percent to 268,000 kg/yr of platinum in 2010 from 

0

50

100

150

200

250

300

350

1995 2000 2005 2010 2015

Estimated capacity of platinum, in thousand kilograms

Year

South Africa

Russia

Canada

United States

Zimbabwe

Other countries

EXPLANATION

Figure 4. Estimated global production capacity for platinum from 1995 through 2015. Capacity is expressed in terms of potentially 

recoverable refined platinum metal. Data were compiled by the U.S. Geological Survey from available literature and oral 

communications.
Estimates of Primary PGM Capacity 21

about 171,000 kg/yr of platinum in 1995. Between 2010 and 

2015, global production capacity for platinum metal was 

expected to increase by about 16 percent to 310,000 kg/yr 

of platinum metal. Global production capacity for palladium 

metal increased by about 60 percent to 242,000 kg/yr of 

palladium in 2010 from about 151,000 kg/yr of palladium in 

1995. Between 2010 and 2015, global production capacity 

for palladium metal was expected to increase by about 14 

percent to 277,000 kg/yr of palladium. The expected capacity 

increase is lower than the amount previously forecasted by 

industry primarily because of the global recession, which 

limited or curtailed the expansion and development plans of 

some projects.

The increase in production capacity for platinum from 

1995 through 2010 was primarily a result of new or expanded 

capacity in South Africa (77,000 kg), Zimbabwe (9,000 kg), 

Russia (6,000 kg), Canada (2,000 kg), Botswana (2,000 kg), 

and the United States (2,000 kg). The increase in production 

capacity for platinum expected between 2010 and 2015 would 

primarily come from new or expanded capacity in South 

Africa (24,000 kg), Russia (9,000 kg), Canada (3,000 kg), and 

Zimbabwe (2,000 kg).

The increase in production capacity for palladium from 

1995 through 2010 was primarily a result of new or expanded 

capacity in South Africa (44,000 kg), Russia (22,000 kg), 

Canada (8,000 kg), the United States (8,000 kg), Zimbabwe 

(7,000 kg), and Botswana (3,000 kg). The increase in 

production capacity for palladium expected between 2010 

and 2015 would primarily come from new or expanded 

capacity in Russia (16,000 kg), South Africa (14,000 kg), 

Zimbabwe (4,000 kg), and Canada (1,000 kg). It is likely 

that the magnitude of this increase in PGM capacity has been 

limited by such factors as the global economy, electrical 

capacity shortages in South Africa, mine safety concerns as a 

result of several recent mining accidents, and the legislative 

environment of South Africa.

Recycled PGMs have increasingly become important as 

a source of supply. In 2010, PGMs recovered from recycled 

automobile catalytic converters, electrical products, and 

jewelry accounted for about 31 percent of the gross global 

supply for rhodium, 30 percent of platinum, and 25 percent of 

palladium (Butler, 2011, p. 54–58). In 2010, about 34,000 kg 

of platinum, 41,000 kg of palladium, and 7,400 kg of rhodium 

were recycled from automobile catalytic converters, about 

310 kg of platinum and 14,000 kg of palladium were recycled 

from electrical components, and about 23,000 kg of platinum 

and 2,600 kg of palladium were recycled from jewelry (Butler, 

2011, p. 54–58). Since 2006, the amount of palladium and 

platinum recovered annually from recycled sources has 

increased at a higher rate than the increase in primary capacity 

for these metals.

During the past decade, demand for PGMs has increased 

with the increase in use of PGMs in automobile catalytic 

converters and electronic components. The growth of the fuel 

cell industry is expected to increase demand for PGMs during 

the next decade (TIAX LLC, 2003, p. 78). The amounts of 

mineral exploration and PGM recycling are also likely to 

increase during the next decade because PGM demand is 

expected to remain strong and existing sources of primary 

supply to become more expensive.

0

50

100

150

200

250

300

1995 2000 2005 2010 2015

Estimated capacity of palladium, in thousand kilograms

Year

South Africa

Russia

Canada

United States

Zimbabwe

Other countries

EXPLANATION

Figure 5. Estimated global production capacity for palladium from 1995 through 2015. Capacity is expressed in terms of potentially 

recoverable refined palladium metal. Data were compiled by the U.S. Geological Survey from available literature and oral 

communications.
22 Global Exploration and Production Capacity for Platinum-Group Metals from 1995 though 2015

Factors Affecting PGM Capacity 

and Supply

Many factors, including capital and operating costs, 

commodity prices, corporate finances, economic conditions, 

exchange and interest rates, government policies and taxes, 

and real and perceived risk factors, influence the timing and 

magnitude of the development of mineral supply. All these 

factors must be considered when evaluating the associations 

between existing operations, exploration activity, capacity 

expansion, and the development of new capacity. Several 

factors that have had a significant influence on PGM supply 

and the exploration and development of PGM properties 

during the study period have been reviewed in this analysis.

The links between demand, sources of supply, and 

market price for a mineral commodity are complex. Mineral 

exploration activity is generally heightened when there is the 

expectation that future demand for a mineral commodity will 

be higher than the anticipated supply. In the case of PGM 

supply derived from nickel and copper deposits, exploration 

is further influenced by the prices and supply and demand 

issues of the two metals. The amount of material substitution, 

recycling, and metal stocks must also be considered.

Because South Africa is the leading source of global 

production capacity for PGMs, an assessment of the events 

affecting the country’s platinum capacity is worthwhile to 

understand some of the factors that affect PGM supply and 

demand. The growth in platinum capacity shown in figure 4 is 

related to the development and implementation of new mines 

to replace depleted resources and maintain existing capacity 

as well as the expansion of existing mines, concentrators, 

smelters, and refineries to provide additional PGM capacity. 

The mines considered in this analysis accounted for an average 

97 percent of the platinum production and 99 percent of the 

palladium production reported by the USGS for South Africa 

from 1995 through 2010 (Reese, 1997; Hilliard, 1998–2011; 

George, 2006–2010; Loferski, 2011, 2012). The data suggest 

that, from 1995 through 2006, annual production capacity for 

primary platinum increased by about 77,000 kg (an average 

growth rate of about 4 percent per year) as a result of new 

mine capacity and expansion of existing mines and processing 

facilities. From 2006 through 2010, annual production 

capacity for platinum from primary sources increased by about 

18,000 kg (an average growth rate of 2.5 percent per year). 

PGM capacity and supply for this same period, however, were 

affected by the global recession of 2008–09, which resulted 

in the temporary closure of several mines, development 

delays of planned operations, and production levels well 

below rated capacity. The growth of PGM capacity was also 

likely adversely affected by a number of South African issues 

that prevented operating mines from achieving production 

goals, including declining ore grades at some existing 

mines, processing difficulties at new mines, the shortage of 

electricity to process PGM ores and recover PGM products at 

concentrators and refineries, labor problems and safety issues, 

and excessive rainfall leading to flooding and temporary mine 

closures (South Africa Chamber of Mines, 2010).

Annual production capacity for platinum in South Africa 

from 2011 through 2015 was expected to increase by more than 

24,000 kg (an average growth rate of 2.5 percent per year) as a 

result of the reopening of suspended mines and the development 

of new or expanded mining and processing operations where 

financing or construction had already been committed prior to 

the recession. It is possible that even more capacity would have 

been developed in South Africa had the economy remained 

strong. It is also possible that, should electrical power supply 

problems persist, any new development would favor shallow 

resources suitable for open pit mining, which requires less 

power than underground mining.

Analysis of exploration activity data and company 

development plans suggests that there have been no significant 

new PGM discoveries in areas that have not seen previous 

PGM production. Most of the increased primary PGM 

capacity took place in South Africa, Russia, Canada, and 

Zimbabwe, areas that have had PGM production for many 

years. Although exploration in Australia, Brazil, China, 

Finland, and the United States may lead to PGM production in 

the future, most of the global PGM capacity through 2020 will 

come from established areas. It is also unlikely that changes 

in mineral policy or social attitudes will affect the distribution 

of PGM capacity during the next decade. In 2020, the United 

States will likely continue to be highly dependent on PGMs 

from South Africa, Russia, Canada, and Zimbabwe. The 

United States, however, may reduce its dependency of foreign 

primary PGMs if the recycling rate for PGMs increases.

Exploration patterns at the larger, long-established 

PGM mining operations in Canada, Russia, and South Africa 

suggest that, even when exploration does not delineate large 

new deposits that would be suitable for expanding the capacity 

of the operation, exploration often better defines potential 

resources so the operation can develop a new ore zone to 

replace another ore zone that is being depleted, often with 

little change in site economics. The longevity of some global 

PGM mines is proof of this.

As new ore zones are identified, defined, and developed, 

facilities to process PGM-containing ores may need to be 

modified or expanded to accommodate new feed sources. 

Because processing is expensive, to maintain project viability, 

any additional processing costs must be offset by additional 

revenues generated by the deposit through higher grades or 

byproduct revenues. Likewise, as a greater amount of PGM 

capacity originates from deeper ore zones in South Africa, 

Canada, and the United States, the ore mined from these 

deposits will have to be of a higher grade to maintain the same 

rate of return on investment, or if mining or processing costs 

increase without a commensurate increase in the grade of the 

ore, then the price of the saleable products from that operation 

must also increase to maintain the desired rate of return.

In the long term, social and political conditions may 

also influence world mineral supply for an industry that is 

concentrated in a limited number of countries. Examples of 
Summary and Conclusions 23

50

100

150

200

250

1995 2000 2005 2010

Year

5

10

15

20

25

30

35

40

0 0

Nominal price of platinum-group metals, in thousand dollars per kilogram

Nominal price of base metals, in thousand dollars per kilogram

Platinum

Palladium

Rhodium

Copper

Nickel

EXPLANATION

Figure 6. Average annual nominal prices of selected metals from 1995 through 2010. Data are from Reese (1997), Hilliard (1998–2011), 

George (2006–2010), and Loferski (2009–2011, 2011a,b).

policies and programs that have affected exploration, mining, 

and mineral development in South Africa since 1995 include 

the Mineral and Petroleum Resources Development Act of 

2002 and the Black Economic Empowerment (BEE) program. 

The act changed the South African system of mineral rights 

from a dual state and private ownership system to exclusive 

state ownership with mining activities being licensed to private 

interests, and the BEE program required that black ownership 

of the mining industry reach 15 percent by 2009 and 26 

percent by 2014 (Yager, 2010). In Zimbabwe, legislation was 

passed in 2008 which required that 51 percent of a business 

must be owned by native Zimbabweans; as of mid-2010, 

the implementation schedule of this legislation had not been 

decided (Mobbs, 2010).

PGM prices and the prices of other mineral commodities 

produced from deposits that recover byproduct PGMs often 

influence the level of mineral exploration and development. 

Figure 6 shows the average annual nominal prices of selected 

PGMs and associated base metals from 1995 through 2010. As 

a point of comparison, the 30-year (1980–2009) average price 

was $17,200 per kilogram for platinum, $7,300 per kilogram 

for palladium, $53,500 per kilogram for rhodium, $2,200 

per metric ton for copper, and $8,100 per ton for nickel. In 

general, PGM exploration activity was low from 1995 to 

1998 (fig. 2), a period when nominal prices for platinum 

and palladium were lower than their average 30-year price 

(fig. 6). PGM capacity increased by 33 percent from 1998 to 

2005, a time when average nominal prices for palladium and 

platinum were higher than their average 30-year price. From 

2005 through 2010, PGM capacity increased by a further 17 

percent, in spite of the economic recession of 2008–09. It is 

likely that higher prices for PGMs after 1998, nickel after 

2002, and copper after 2004 were one factor that stimulated 

exploration and development of PGM deposits during much of 

the study period (fig. 6). Exploration activity data collected by 

the USGS suggest that global exploration activity for PGMs 

peaked during the 2002–03 period, perhaps partly in response 

to the 2000–01 peaks in PGM prices. The projected increase 

in PGM capacity after 2012 can partly be attributed to higher 

prices for PGMs and base metals from 2005 through 2007. 

The 6-year delay in new capacity is likely a result of the 2008–

09 recession and the normal time lag between an expansion 

decision and the completion of new capacity construction.

Summary and Conclusions

Many factors determine whether or not a mineral deposit 

will be developed into a mine and the timing associated with 

development. The geologic depth and extentof the deposit, 

the grade of ore mineralization and related impurities, and the 

recoverability of the resource influence its economic viability. 

Once a resource has been adequately defined, a combination 

of external factors influences site development. Although the 

specific forces influencing the decision to develop each project 
24 Global Exploration and Production Capacity for Platinum-Group Metals from 1995 though 2015

are often different, some general conclusions can be made based 

on ongoing U.S. Geological Survey global mineral activities.

The United States is highly dependent on foreign sources 

of platinum-group metals (PGMs) to meet increasing demand 

for these materials in a variety of applications. Principal 

sources of PGMs during the past 15 years have been South 

Africa, Russia, Canada, and Zimbabwe. These countries 

should continue to be the principal sources of PGMs at least 

for the next decade.

The production capacity of PGMs in South Africa increased 

from 1995 through 2006 as the industry responded to increased 

demand for PGMs by increasing mine exploration, which led 

to the development of replacement mines and new mines and 

the expansion of existing mine capacity. Capacity utilization 

decreased from 2006 through 2010 as a result of domestic energy 

shortages, labor and safety issues, and declining PGM demand 

as a result of the deterioration of the global economy. In spite of 

these short-term difficulties, the capacity to produce PGMs from 

South Africa from 2010 through 2015 was expected to increase to 

a level nearly double that of 1995.

Global exploration for PGMs after 1995 focused 

primarily on maintaining or extending reserves of producing 

deposits, defining reserves of deposits adjacent to producing 

areas, and reassessing the PGM potential at base-metal 

deposits and mill tailings areas. Although exploration in other 

areas occurred, resources delineated by these activities were 

not sufficient to enable the development of significant PGM 

mines outside of historically producing areas during the study 

period. Mineral exploration enabled many mines to define and 

develop new zones to replace depleted ore zones so that PGM 

capacity could be maintained if not increased.

Sources of South African PGM supply are changing as the 

shallow Merensky deposits are being depleted, and deeper, higher 

cost Upper Group Reef seam 2 (UG2) deposits, which require 

modifications to the processing techniques, are being developed; 

a greater percentage of the supply of PGMs from South Africa is 

likely to come from the Eastern Bushveld deposits.

For mines that produced PGMs in South Africa in 1995, 

the Eastern Bushveld accounted for about 6 percent of the 

palladium reserve, 4 percent of the platinum reserve, and 

4 percent of the rhodium reserve. It was estimated that the 

Eastern Bushveld would account for about 29 percent of the 

rhodium reserve, 27 percent of the palladium reserve, and 

25 percent of the platinum reserve for mines producing PGMs 

in South Africa in 2015.

In general, ores from deposits in the Western Bushveld 

have a higher content of platinum but a lower content of 

palladium than deposits in the Eastern Bushveld. Although a 

typical PGM deposit in South Africa contains more platinum 

than palladium, as the amount of mining in the Eastern 

Bushveld increases, the proportional amount of palladium 

that is recoverable from South African deposits will likely 

increase. As the amount of mining from the UG2 seam 

deposits increases, the overall rhodium content of PGMs from 

South African deposits is likely to increase.

Although Russia will probably continue to be a significant 

supplier of PGMs from deposits on the Taimyr Peninsula and 

Kola Peninsula during the next decade, specific sources of 

supply for PGMs from Rissia are changing. The capacity of 

mines deriving PGMs from cuprous sulfides and sulfides with 

disseminated PGMs is increasing faster that the capacity of 

mines deriving PGMs from nickel-rich sulfide ores. The cuprous 

and disseminated ores generally have a lower PGM content and 

different palladium-to-platinum ratios than the nickel-rich ores 

that dominated PGM supply in the 1990s.

Because much of the PGM capacity from Canada and 

Russia is derived as a byproduct of copper and nickel mining, 

PGM capacity from these countries is influenced by economic, 

environmental, political, and technological factors affecting 

copper and nickel exploration and production in addition to 

factors influencing PGMs. Accurate resource delineation and 

mine scheduling allow producers to adjust mine production and 

processing to maximize material recovery and revenues with 

economic and market changes for these metals. The revenue 

generated by PGM production from a nickel and copper mine 

has increased as a percentage of the operation’s total revenue.

Because PGM prices have increased since 2003, the 

recovery of PGMs from tailings derived from historical 

copper, nickel, and PGM mining operations has increased in 

Russia and South Africa.

The amount of PGMs being recycled has increased 

since 1995. Data suggest that recycled PGMs recovered from 

automotive, electrical, and jewelry applications accounted 

for about 30 percent of the world’s supply of platinum and 

about 29 percent of the world’s supply of palladium in 2010. 

Since 2006, the amount of palladium and platinum recovered 

annually from recycled sources has increased at a faster 

rate than the that of the primary production capacity for 

these metals.

Global and local geopolitical conditions have influenced 

PGM supply and demand. Legislation regulating the structure 

of the mining sector has affected mining in Russia, South 

Africa, and Zimbabwe. Stricter vehicle emissions standards 

have led to mandatory use of pollution control devices, such 

as catalytic converters, containing PGMs in vehicles since the 

1980s and could be required on vehicles in expanding markets, 

such as those in China and India. The global recession of 

2008–09 decreased demand for PGMs and constrained PGM 

mine development. By the end of 2010, the consequences of 

the global recession continued to limit some exploration and 

development activities.

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Prepared by the Pembroke and Reston Publishing

Service Centers.

For more information concerning this report, contact:

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12201 Sunrise Valley Drive

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or visit our Web site at

http://minerals.usgs.gov/minerals/.
Wilburn—Global Exploration and Production Capacity for Platinum-Group Metals From 1995 Through 2015—Scientific Investigations Report 2012–5164