Top-10 Platinum Producing Countries in the World 2024

Platinum, a precious metal known for its rarity, versatility, and value, plays a crucial role in various industries, including automotive, jewelry, and electronics. As of 2024, several countries have emerged as the leading producers of platinum, contributing significantly to the global supply. Here’s a look at the top 10 platinum-producing countries in the world.

Worldwide Production of Palitnum

In 2022, the world produced approximately 190 metric tons of platinum. South Africa was the leading producer, contributing around 72% of the global annual production. This substantial share underscores South Africa’s dominance in the platinum industry, significantly impacting the global supply of this precious metal.

Largest Platinum Producer in the World 2024

South Africa is the world’s largest producer of platinum, with an estimated production of 140 metric tons, accounting for 73% of global output. Platinum reserves are concentrated in the Bushveld Complex, specifically the Merensky Reef, UG2 chromitite layer, and Platreef. Major producers include Anglo American, Sibanye Stillwater, Impala Platinum, and Northam Platinum. Key export destinations are the United States, Japan, United Kingdom, Germany, and Hong Kong. The mining sector faces challenges such as protests, labor strikes, safety concerns, and company controversies.

Top-10 Platinum Producing Countries in the World 2024

South Africa with the platinum production of 132,989 metric tonnes, stands as the largest platinum producer in the world, followed by Russia, Zimbabwe and Canada.

Here is the list of top-10 platinum producing countries in the world 2024:

Largest Platinum Producer in the World – South Africa

Platinum Production: 132,989 metric tonnes

South Africa is the world’s largest producer of platinum, producing an estimated 140 metric tons in 2022, which is 73% of the global total. The Bushveld Complex, containing the Merensky Reef, UG2 chromitite layer, and Platreef, is the primary source. Major producers include Anglo American and Impala Platinum. Key export destinations are the US, Japan, UK, Germany, and Hong Kong. The sector faces challenges like protests and labor strikes.

Second Largest Country in terms of Platinum Production – Russia

Platinum Production: 24,000 metric tonnes

Russia is the world’s second-largest producer of platinum, producing 20 metric tons, which is 10.6% of the global supply. The majority of Russia’s platinum comes from Norilsk Nickel’s operations in Taymyr. Key mines are located in Krasnoyarsk Krai and Murmansk Oblast, including Oktyabrsky and Komsomolsky. Russian mines have a high palladium-to-platinum ratio, unlike South African mines.

World’s Third Largest Platinum Producing Country – Zimbabwe

Platinum Production: 13,857 metric tonnes

Zimbabwe is the world’s third-largest platinum producer, with a production of approximately 15,000 kilograms. The Great Dyke, rich in platinum, palladium, rhodium, nickel, and chrome, is the primary source. Major companies include Anglo American Platinum, Impala Platinum, Sibanye Stillwater, and Tharisa, with Zimplats, 87% owned by Implats, being the largest producer. Zimbabwe’s PGM reserves are estimated at 1,200,000 kilograms.