Platinum Production by Country 2024

Platinum is used for industrial purposes, especially in electronics. It is also a treasured metal for jewelry because, like gold, it does not corrode. Global platinum mine production for 2022 was 188.5 metric tons. Five countries produced 97.8% of the world’s platinum.

Here are the production figures by top countries from 2022.

The World’s Top Platinum Producers

1. South Africa

South Africa is the world’s number one producer of platinum. In 2022, it produced 140 metric tons, which accounted for 74.3% of the world’s platinum.

The areas in South Africa mined for platinum are the Merensky Reef, the Platreef, and the Upper Group 2 Reef.

The discovery of platinum at the Merensky Reef began mining operations there in 1925. The mine remained open for nearly 75 years while it continued producing platinum.

The Platreef opened for large-scale mining in 1933. It is presently the third-largest mine in South Africa.

In the 1970’s, The Upper Group 2 Reef started production. It is now the largest platinum mine in the world.

Recent problems with labor strikes, protests around mining safety, and general political turmoil have negatively impacted the mine’s production.

2. Russia

Russia produced 20 metric tons in 2022, making its mine production 10.6% of the global supply. This amount is the second-largest mine output in the world. However, it is only 1/7th of the amount that comes from South Africa.

Sanctions against Russia have made it more difficult for Russia to export platinum, so the Russian government is building up its platinum reserves.

In 1823, platinum was found in the Ural Mountains. Mines have been in operation since that time. Output from that area went down in the 1920s. Then, in 1935, platinum was found, mixed with copper and nickel, at mines in the Taimyr Peninsula in Siberia, which is responsible for most of the Russian platinum currently produced.

3. Zimbabwe

Zimbabwe comes in at third place on the list. It produced 15 metric tons in 2022, representing 8% of the global supply. There is a geological feature that runs through the center of the country called The Great Dyke. Three major mines are found in the southern part of The Great Dyke. The Mimosa operation started in the 1920s. The Zimplants mine started during the 1990s. The Unki mine began in 2010.

4. Canada

Canada is the fourth largest producer, with six metric tons mined in 2022. That is 3.2% of the world supply. The big producers are the Raglan mine in Manitoba and the Lac des lles mine in Ontario.

5. United States

The Stillwater mine in America is the only producer of significance in the USA, creating 3.3 metric tons, about 1.8% of the global supply.

The countries in the rest of the world contribute a total of 4.2 metric tons, which represents 2.2% of the world supply.