(Kitco News) – In line with the preliminary knowledge launched by the U.S. Geological Survey (USGS), world mine platinum manufacturing was 170,000 kilograms in 2020, a 9% decline in comparison with 2019 (186,000 kilograms).
USGS stated that manufacturing of platinum in South Africa, the world’s main provider of PGMs, decreased by 10% to 120,000 kilograms in 2020 in contrast with that of 2019 owing to momentary lockdowns associated to the COVID-19 pandemic in addition to elevated labor prices, elevated prices for electrical energy, an unreliable provide of electrical energy, and challenges associated to deep-level mining.
USGS estimates that the world’s PGMs assets are amounted to greater than 100 million kilograms. The most important reserves are within the Bushveld Complicated in South Africa.
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