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Home > Mining >  COVID-19 >  Global Platinum Mining to 2025 – Analysing Reserves and Production by Country, Global Assets and Projects, Demand Drivers and Key Players

Global Platinum Mining to 2025 – Analysing Reserves and Production by Country, Global Assets and Projects, Demand Drivers and Key Players

The global platinum group metal reserves totaled 69.0kt (thousand tonnes) in January 2021. Of this, South Africa accounted for the largest share equivalent to more than 90%, followed by Russia and Zimbabwe. The COVID-19 pandemic had a significant impact on global platinum production in 2020, with an estimated 18% decline to 4,944koz (thousand ounces). Global platinum production is forecasted to expand at a CAGR of more than 3% by 2025.

Lockdown measures mainly across South Africa and an accident at Anglo American’s converter plant (ACP), which led to plants closure for 90 days, were the prime reasons for lower production in the country. Russia, which is the second largest producer, was impacted less by the pandemic. Meanwhile, production in Zimbabwe grew, mainly supported by the continuous operation at the mine sites despite the lockdown. Globally, 43 platinum projects are under development, of which six are under construction.

Global platinum mining market overview

Global platinum mining market overview

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What are the platinum mining market dynamics?

Global platinum consumption has been significantly impacted by the COVID-19 pandemic, with lower demand from the automobile and jewelry industries. A sizeable share of demand for PGM (platinum group metals) comes from the automobile industry, as the metals are used for autocatalyst to reduce greenhouse gas emissions. The industry accounted for more than 30% of the global platinum demand in 2020. Platinum is primarily used for diesel vehicles, although all three metals – platinum, palladium, and rhodium – can be substituted for each other. In 2020, the impact of the pandemic, along with the implementation of low emission standards, significantly impacted demand for platinum within the autocatalyst segment compared to palladium.

The global jewelry market accounts for more than 20% of total platinum consumption. China contributes most of the total platinum consumption for jewelry. Global platinum consumption for jewelry contracted in 2020 primarily due to lower fabrication demand in the Chinese jewelry market, which was below 1moz for the first time in the last two decades.

What is the categorization of platinum mining assets?

The platinum assets are categorized into active mines, development projects and exploration projects. Each category provides additional information about the mines/projects regarding the mining method, mine stage, total ore reserves, saleable production year, equity owners etc.

 

What are the top regions and countries for the platinum mining market?

South Africa is the world’s largest platinum producer, accounting for more than 65% of the total in 2020. It is followed by Russia and Zimbabwe both in platinum group metal reserve capacity and production. South Africa’s platinum production fell in 2020, mainly due to the implementation of strict lockdown measures across the country to contain the spread of COVID-19 along with an accident at Anglo American Platinum’s converter plant (ACP), which led to the plant being close for 90 days.

Russia, which is the second largest producer, was impacted less by the pandemic. Meanwhile, production in Zimbabwe grew, mainly supported by the continuous operation at the mine sites despite the lockdown.

Global platinum mining market, by region

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For more regional insights, download the free sample report

Who are the major players in the platinum mining market?

Anglo American Platinum Ltd, Impala Platinum Holding Ltd and MMC Norilsk Nickel are the world’s top platinum-producing companies, together accounting for 60% of the global total in 2020.

Anglo’s platinum production fell mainly due to the impact of strict lockdown across the country and an accident at its converter plant (ACP) which led the plant to be closed for 90 days. Production from Impala Platinum and MMC Norilsk also fell in 2020. MMC Norilsk’s limited production decline was due mainly due to the commissioning of a new precious metals concentrate production line at the Kola division.

Global platinum mining market, by key companies

Global platinum mining market, by key companies

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Market report scope

Market Volume (Year – 2020) 4,944koz
Growth rate CAGR of >3% from 2021 to 2025
Base year for estimation 2020
Asset categories Active mines, Development projects, Exploration Projects
Regional coverage South Africa, Russia, Zimbabwe and others
Forecast period 20212025
Key companies Anglo American Platinum Ltd, Impala Platinum Holding Ltd and MMC Norilsk Nickel

The report also provides detailed information on reserves, production, production by company and country, major active, exploration and development projects by region.

Reasons to Buy

  • To gain a comprehensive evaluation of the impact of the COVID-19 on global platinum mining industry
  • To understand the historical and forecast trend on global platinum production and consumption
  • To understand the trend of global platinum prices
  • To understand about platinum production by country and company
  • To get an overview on demand from the global jewelry and bars/coins market
  • To evaluate major active, exploration and development mines of platinum across various countries

Companies Mentioned

Anglo American Platinum Ltd, Sibanye Stillwater Ltd, Impala Platinum Holding Ltd, MMC Norilsk Nickel

Table of Contents

Table of Contents

| About GlobalData

1. Executive Summary

2. Reserves, Production and Prices

2.1 Global Platinum Reserves by Country

– South Africa

– Russia

– Zimbabwe

2.2 Platinum Production

– South Africa

2.3 Production by Company

2.4 Platinum Prices

3. Platinum Assets

3.1 Active Mines

3.2 Development Projects

3.3 Exploration Projects

4. Demand and Trade

4.1 Platinum Consumption

4.2 Demand from the Automobile Industry

4.3 Demand from the Jewelry Industry

4.4 Global Platinum Trade

5. Major Platinum Producers

5.1 Company Profiles

– Anglo American Platinum Ltd

– Sibanye Stillwater Ltd.

– Impala Platinum Holdings Ltd

– MMC Norilsk Nickel

6. Appendix

6.1 Abbreviations

6.2 Methodology

6.3 Coverage

6.4 Secondary Research

| Contact Us

List of Tables

Table 1: Global Platinum Mining – PGM Reserve by Country (Thousand Tonnes), January 2021

Table 2: Global Platinum Mining – Top Active Mines in South Africa by Total Reserves

Table 3: Global Platinum Mining – Top Active Mines in Russia by Total Reserves

Table 4: Global Platinum Mining – Top Active Mines in Zimbabwe by Total Reserves

Table 5: Global Platinum Mining – Historical and Forecast Platinum Production by Country (Thousand Ounces), 2005-2025

Table 6: Global Platinum Mining – Platinum Production in South Africa (Thousand Ounces), 2005-2025

Table 7: Global Platinum Mining – Global Platinum Production by Company (Thousand Ounces), 2019-2021

Table 8: Global Platinum Mining – Platinum Prices Quarterly (US$/Ounce), Q1 2015-Q2 2021

Table 9: Global Platinum Mining – Active Mines, 2021

Table 10: Global Platinum Mining – Development Projects, 2021

Table 11: Global Platinum Mining – Exploration Projects, 2021

Table 12: Global Platinum Mining – Historical and Forecast Platinum Consumption by Major Country (Thousand Ounces), 2005-2025

Table 13: Global Platinum Mining – Anglo American Platinum Ltd, Major Operating Mines, 2021

Table 14: Global Platinum Mining – Sibanye Stillwater Ltd., Major Operating Mines, 2021

Table 15: Global Platinum Mining – Impala Platinum Holdings Ltd, Operating Mines, 2021

Table 16: Global Platinum Mining – MMC Norilsk Nickel, Major Operating Mines, 2021

List of Figures

Figure 1: Global Platinum Mining – Share of PGM Reserves by Country (%), January 2021

Figure 2: Global Platinum Mining – Historic and Forecast Platinum Production by Country (Thousand Ounces), 2005-2025

Figure 3: Global Platinum Mining – Platinum Production in South Africa (Thousand Ounces), 2005-2025

Figure 4: Global Platinum Mining – Platinum Production by Major Company (Thousand Ounces), 2019-2020

Figure 5: Global Platinum Mining – Platinum Prices Quarterly (US$/Ounce), Q1 2015-Q2 2021

Figure 6: Global Platinum Mining – Share of Global Platinum Consumption by End Use (%), 2020

Figure 7: Global Platinum Mining – Historical and Forecast Platinum Consumption by Major Country (Thousand Ounces), 2005-2025

Figure 8: Global Platinum Mining – Global Automobile Production by Country (Million Units), 2016-2036

Figure 9: Global Platinum Mining – Platinum Demand for Jewelry by Country (Thousand Ounces), 2010-2025

Figure 10: Global Platinum Mining – Major Importers and Exporters of Platinum, 2020

Frequently Asked Questions

The global platinum mining market volume was estimated at 4,944koz in 2020.

The global platinum mining market is expected to grow at a compound annual growth rate of more than 3% from 2021 to 2025

South Africa led the global platinum mining market by production in 2020, followed by Russia and Zimbabwe.

Anglo American Platinum Ltd was the leading company in 2020, followed by Sibanye Stillwater Ltd, Impala Platinum Holding Ltd, and MMC Norilsk Nickel.

The high-potential countries identified were South Africa, Russia and Zimbabwe.

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