The six platinum group elements are ruthenium (Ru), rhodium(Rh), palladium(Pd), osmium(Os), iridium(Ir) and platinum(Pt). These are all transition metals grouped in the centre of the periodic table. Os, Ir and Pt are the three densest metals, Os has a density of 22.6 compared with gold at 19.3 and silver at 10.5.

Platinum and palladium are soft, ductile and resistant to corrosion. Palladium is primarily used in catalysts, electronics, dentistry and chemical reagents. Platinum is also used as a catalyst and in fine jewellery.

Ruthenium is hard and white and oxidises explosively. It is typically used to harden platinum and other metals. For example, adding 0.1% Ru to titanium improves corrosion resistance 100 times.

Rhodium is very rare, less dense and has a higher melting point than platinum. It is rarely used as a metal, virtually always as an alloy. For instance it is combined with platinum and palladium in auto catalysts.

Osmium has a very high melting point (3033oC) and a boiling point of 5012oC. Osmium tetroxide is a toxic, powerful oxidising agent with a strong smell. In fact it is named after the Greek word osme, which means smell or scent. It is typically alloyed with other metals to make products such as instrument pivots and electrical contacts.

Iridium is dense and brittle and is therefore difficult to work unless heated to very high temperatures. It is primarily used as an alloy with platinum to harden it. It is also used in high temperature devices and in electrical contacts.

periodic_table

 

World production

South Africa is by far the world’s largest producer of platinoids, followed by Russia and Canada. The following is world production for 2019:

Platinum              180t (1 tonne equals 35,274oz)

Palladium            210t

Rhodium             about 30t

Ruthenium         about 30t

Iridium                about 7t

Osmium               about 0.5t

 

mogalakwena

The Mogalakwena platinum mine operated by Anglo American Platinum in South Africa. The complex is around 10km long and is surrounded by villages.

Prices

The following are the last month’s prices to 4 June 2020 for the five main metals. Osmium sells for around USD400oz, and has done since the 1990’s.

 

pt_group prices

 

ASX Platinum Stocks

Zimplats Ltd (ASX: ZIM) is the only ASX listed PGE producer and is an 87% owned subsidiary of Impala Platinum Holdings Ltd. It has operations on the Great Dyke in Zimbabwe. For the March 2020 quarter it produced 151,000 6E (Pt, Pd, Rh, Ru, Ir, Au) oz along with silver, nickel, copper and cobalt.

Nkwe Platinum (ASX: NKP) is controlled by Jin Jiang Mining with a 60.5% holding. The company holds the undeveloped Garatau project in South Africa, which hosts a total resource of 43.7Moz of 4G (Pt, Pd, Rh, Au). The company has completed a BFS and is now looking to enter development.

Chalice Mining Ltd (ASX: CHN) discovered the large Julimar Ni Ci PGE deposit in March 2020. Impact Minerals Ltd (ASX: IPT) holds numerous PGE prospects in the Broken Hill region.

Several smaller companies have PGE’s as part of their portfolio, however usually at an early stage of exploration. Examples include Platina Resources (ASX: PGM), Duketon Mining (ASX: DKM), Podium Minerals (ASX: POD).

 

17 June 2020 Commodities Tags: , , , , ,