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We also observe the performance of platinum mining companies active platinum mining operations and the progress of major platinum mine development and exploration projects around the world Global platinum production has picked up after an 18% decline due to COVID 19 in 2024
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A breakthrough came in the 18 th century when a Swedish researcher added arsenic to the metal but it was only in 1782 that platinum was successfully melted by adding oxygen After a further 25 years it became possible to produce platinum commercially using this method and the metal was used mainly for decorative purposes
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Oct 4 2021The world s largest open pit platinum mine is Mogalakwena Limpopo owned by Anglo American It covers around 72 square kilometers and is estimated to contain million oz of platinum Theoretically it ll last until the 2040s Platinum Mining Processes Platinum mining is an incredibly labor intensive process which in part explains its cost
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Platinum is used extensively for jewellery Its main use however is in catalytic converters for cars trucks and buses This accounts for about 50% of demand each year Platinum is very effective at converting emissions from the vehicle s engine into less harmful waste products
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Remarkable difficulties exist in its mining and production with between 5 and 6 million ounces of new platinum reaching the world market each year that figure is less than 5% of gold production It is estimated that all of the platinum ever mined would fill a room measuring less than twenty five feet on a side
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Enjoy a detailed discussion on the history of platinum mining and refining including facts figures pictures and charts to help explain Learn all about platinum as a precious metal and the centuries long processes of mining and refining that have made it so integral to many parts of the world
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The discovery of Platinum led to small scale placer mining In summer 1927 the Hand mining operations began in shallow gravels of Clara Creek Squirrel Creek Platinum Creek and Fox Gulch And during such operations of Hand mining from the year 1927 to 1933 it is believed that the miners were able to extract about 3 000 ounces of crude platinum
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History Platinum was named in the 1930s due to the platinum ore found in the area The site was a mining boomtown by 1937 boasting a roadhouse two trading posts and a population of fifty A post office had been established in 1935 An earlier Inuit village called Arviq had been abandoned The town was incorporated as a city in 1975
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Infosys Foundation and Bharatiya Vidya Bhavan to promote Indian visual and performing arts
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Platinum was mined in Russia as far back as the early 19th century Today it remains one of the hot spots for Platinum mining Russia has the longest history of Platinum mining with Platinum deposits discovered in the Ural Mountains in 1823
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Yearly refined output is estimated at 250 000 platinum ounces It is expected that production will begin next year and that the mine will have a minimum life of 25 years Capex to bring the mine
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PLATINUM Documentary Mining Science and History Commodity Culture subscribers Subscribe Share 279K views 9 months ago Own real physical Platinum with the Platinum
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Lesego Platinum has enviable PGM resources containing significant copper and nickel With around 50 Moz at an impressive grade of over g/t together with an orebody starting a mere 350 m below natural ground level it is planned to develop a low cost long life safe and sustainable operation
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The first economically important discovery of platinum in the Bushveld Complex was found in a single layer associated with the sulfides that we now call the Merensky Reef after its discoverer Dr Hans Merensky 8 Figure 3 shows a specimen of a Merensky Reef section
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The chart below shows the price of platinum As one can see it dived below the $1 100 level in 2024 And now it is below $800 It means that the production costs create only an imperfect floor for the prices the precious metals investors shouldn t forget about it Chart 1 Platinum prices London Fix in $ from 2024 to September 2024
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The History of Platinum Paradoxically they considered platinum as a nuisance for their mining of gold After the introduction of platinum into Europe in the 18th century it became a metal of interest for scientists due to its special properties In 1751 a Swedish assayer Scheffer recognized platinum as the seventh existing element at
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English Platinum mining is an extremely lucrative mining industry found within South Africa This particular mine is set within mountains offering a spectacular view of nature contrasted against heavy industry This particular platinum mine is known as the Two Rivers mine which has a shared ownership between African Rainbow Minerals and Impala Platinum holdings limited
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Platinum is a lustrous silvery white malleable ductile metal and a member of group 10 of the periodic table of the elements It has the third highest density behind osmium and iridium Platinum is unaffected by air and water but will dissolve in hot aqua regia in hot concentrated phosphoric and sulphuric acids and in molten alkali
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Oct 4 2021Platinum mining is an incredibly labor intensive process which in part explains its cost It can take 6 months or more and 12 tons of ore to produce a single troy ounce around 31g of platinum To cut down on processing time and cost many miners streamline their refining processes The mines are either underground or open pit
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Although the commercial mining of platinum began in South Africa in the 1920s and the odd burst of speculative activity aside the industry itself remained small marginal and even occasionally fallow for the first 40 years of its existence Edwards and Silk 1987 pp 9 24 However platinum s fortunes dramatically improved from the
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Platinum was officially scientifically discovered in the year 1735 AD Historical precious metals mining data shows that over 18 times more physical gold and about 150 times more physical silver has gotten mined than platinum Estimates are that just over 10 000 tonnes of physical platinum have ever gotten mined by humankind
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Platinum has not been this cheap vs gold since 1907 AD In other words in over 110 years we have not seen platinum values slump this far versus the price of gold Here at SD Bullion we have covered Platinum fundamental investment factors as well as information about supply demand factors at play today
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Platinum is among the world s scarcest metals and is used primarily in the production of automotive catalytic converters in petroleum refineries and in the chemical and electrical industry South Africa accounts for 80% of production followed by Russia and North America
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Sep 15 2022Platinum price history The platinum price fell by % in 2024 as the supply surplus grew having spiked in mid February to $1 308 an ounce from $1 078 at the end of 2024 before ending 2024 at $962 The price moved back above $1 000 in January and edged lower in early February
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Platinum monthly average prices 2024 2024 Text version Palladium prices experienced some volatility in 2024 The price increased to a peak of $2 525 early in the year then dropped to a low of $1 902 The price recovered in the last half of the year to reach $2 334 per troy ounce of palladium in December 2024
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In 1780 it was being used in France to make crucibles for glass production a use that to this day consumes tens of thousands of ounces of platinum each year 1700 s As new industrial uses for the metal were discovered platinum s tarnishless beauty and strength also began to impress jewellers and goldsmiths
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A review is given of platinum mining in the Ural Mountains and the industrial use of this metal Alluvial Mining in the Urals Hutchins Mining Magazine Vol 10 No 1 pp 52 62 1914 This article describes the methods to recovery gold and platinum from alluvial deposits Discovery and Early History of Platinum in Russia
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Jan 19 2022Where is platinum found Platinum was discovered in South America independently by Antonio de Ulloa in 1735 and by N Wood in 1741 but it had been in use by pre Columbian Indians Platinum appears in thin sulphide layers in certain mafic igneous bodies and is mined in Canada Russia South Africa the USA Zimbabwe and Australia
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The History of Platinum Education In a discussion of the early history of platinum as a precious metal discover how it is developed in the earth s crust how it was discovered how it has shaped cultures over time through many uses as well as some interesting facts and stories about the metal through video and detailed photos
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Exploration and Mining History 1993 Falconbridge intersected 5% Ni 27% Cu oz/st Pt and oz/st Pd at a depth of 8 200 ft approximately 2500m below the surface 2024 Falconbridge intersected % Ni and % Cu over m at a depth of 1443m and % Ni and % Cu over at 1561
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