Top 10 Largest Platinum Producing Countries in the World

South Africa is the largest producer of platinum, producing more than twice as much as the rest of the world combined. In 2022, the global platinum mine production reached 188.5 metric tons, with the top five nations contributing to 97.8% of the world’s total.

In this article, we will discuss the List of Top 10 Platinum Producing Countries in 2023, along with a detailed explanation of each country.

List of Largest Platinum Producing Countries in the World

South Africa is the world’s largest producer of platinum, followed by Russia, Zimbabwe, Canada, and the United States and in 2022, South Africa produced an estimated 140 metric tons of platinum, while Russia produced 20 metric tons. The Bushveld Complex in South Africa’s Transvaal produces more than 70% of the world’s platinum and the complex includes the Impala, Rustenburg, and Marikana mines. These are some of the highest-yielding mines in the world.

The table contains the list of the top 10 plantinum-producing countries:

Ranking	Country	Metric Tons
1	South Africa	132,989 metric tons
2	Russia	24,000 metric tons
3	Zimbabwe	13,857 metric tons
4	Canada	8,500 metric tons
5	United States	4,150 metric tons
6	China	2,500 metric tons
7	Finland	953 metric tons
8	Colombia	178 metric tons
9	Australia	110 metric tons
10	Poland	2 metric tons

Let’s learn about each of them in detail.

10. Poland

Poland is the 10th largest platinum producing country in the world, with an average annual production of 90 kilograms. Recently, Precious Metals Plant was constructed in the Poland which has gained significance as a producer of rare metals. Despite this production boost, the consumption of such metals in Poland remains relatively low compared to both domestic output and global trends. It is used in making jewelry, in photography, and in automotive applications.

• Poland’s average platinum production from 1998 to 2012 was 22 kilograms, ranging from a minimum of 20 kilograms in 1998 to a peak of 25 kilograms in 2009.
• Poland’s KGHM, a mining company, is primarily responsible for the country’s platinum production. KGHM is also one of the world’s largest producers of silver and copper.

9. Australia

Australia is the ninth largest platinum producer in the world, with an average annual production of 135 kilograms. In 2021, Australia produced 0.1 metric tons of platinum from mining. Historically, production of platinum has fluctuated between 0.2 and 0.1 metric tons.

• In 2021, Australia exported $28M in Platinum, making it the 35th largest exporter of Platinum in the world.
• The six metals that make up the platinum group are ruthenium, rhodium, palladium, osmium, iridium, and platinum. These metals are extracted from Australian soil along with other minerals like copper and nickel.
• Some companies that produce platinum in Australia are: Podium Minerals, Midas Minerals and Vale SA.
• In Australia, mining sector is mainly involved in commodities like lithium, copper, and nickel, which are crucial for low-emissions technologies, platinum-specific mining is not a primary focus.

8. Colombia

Colombia produces an average of 483 kilograms of platinum annually, making it the eighth largest platinum producer in the world. The average platinum production in Colombia from 1998 to 2020 was 832 kilograms, with fluctuations ranging from 163 kilograms in 2019 to a peak of 1460 kilograms in 2012.

• Colombia’s Andean highlands serve as a rich source of various minerals and metals.
• Platinum in Colombia is commonly associated with ultrabasic rocks like pyroxenes, peridotites, and dunites, located along the seaward flanks in the western cordillera.
• The weathering of these minerals, along with river movement, leads to the formation of alluvial deposits comprising gravel and platiniferous sands.
• The Chocó region in Pacific Colombia is the most significant area for exploiting these platinum resources, with smaller areas found in the state of Esmeraldas in north-coastal Ecuador and near the Tumaco district in the Narino department in south-coastal Colombia.

7. Finland

Finland’s average annual platinum production is 1,432 kilograms, making it the seventh largest platinum producing country in the world. In 2011–2021, Finland’s annual output of unwrought and powder platinum ranged from 34–56 tonnes, with an average production of 48 tonnes per year. In 2021, Finland exported $169 million in platinum, making it the 19th largest exporter of platinum in the world.

• Finland’s platinum production averaged 764 kilograms between 1998 and 2020, ranging from a low of 265 kilograms in 2009 to a peak of 1576 kilograms in 2018.
• The Suhanko project in Finland has the potential to surpass Russia as the leading palladium and platinum producer in the European Union.
• Finland’s bedrock remains a promising source for discovering various essential minerals.

6. China

China is the sixth largest platinum producer in the world, producing 2,500 kilograms in 2022. China experienced an increase in overall gross platinum demand, rising from 2.2 million ounces in 2020 to approximately 2.4 million ounces in 2021. Since 2013, there have been annual fluctuations in China’s total demand for platinum.

• One contributing factor to the increased demand may be the addition of more platinum to the catalytic converters of large trucks, driven by stricter emission requirements. Approximately 40% of platinum is utilized in car exhaust systems to mitigate harmful emissions.
• Besides industrial applications, platinum continues to be commonly used in jewelry in China.
• In 2022, China was the world’s largest consumer of platinum, consuming around 75.1 metric tons. It accounts for 34% of the global consumption. 

5. United States

The United States is the fifth-largest producer of platinum in the world, producing 4,200 metric tons of platinum in 2022. The US has two platinum-producing mines, the Stillwater Mine in Nye, Montana, and the East Boulder Mine by Big Timber, Montana.

• As of 2022, the United States has an estimated 900 metric tons of platinum metal reserves. This is about 1.3% of the world’s total platinum reserves.
• These reserves are located in a number of states, including Montana, Wyoming, Alaska, and Minnesota.
• The Stillwater Mine in Montana is the largest platinum mine in the United States and accounts for about half of the country’s production.
• The demand for platinum is expected to increase in the coming years, as it is a key component in the development of new technologies such as fuel cells and hydrogen storage systems.

4. Canada

Canada is the fourth largest producer of platinum in the world. In 2022, Canada produced an estimated six metric tons of platinum, which is 3.2% of the world’s supply. In 2021, Canada produced about 700,000 troy ounces of platinum, with 73% coming from Ontario. The rest comes from Quebec, Manitoba, and Newfoundland and Labrador. Platinum was first found in Canada’s Ontario province in 1888. 

• Canada has 310 tonnes of known platinum group metals (PGMs) reserves, which is about 9.6 million troy ounces.
• Platinum is often a by-product of nickel mining in Canada. The majority of Canada’s platinum comes from the Sudbury Basin in Ontario.
• Ontario accounted for 77.1% of production, with the remaining production coming from Québec (22.0%), Manitoba (0.8%), along with Newfoundland and Labrador (0.11%). 
• In 2017, Canada’s platinum production peaked at 9.5 metric tons.
• Canada exports the majority of its platinum to the US.

3. Zimbabwe

Zimbabwe is the world’s third-largest producer of platinum. In 2022, Zimbabwe produced about 15,000 kilograms of platinum which is about half to three quarters as much platinum as Russia. Zimbabwe is also the fifth-largest producer of palladium and the third-largest producer of platinum group metals (PGMs) worldwide.

• The Great Dyke in Zimbabwe is a rich source of platinum, palladium, rhodium, nickel, and chrome. Small-scale operations initially mine these metals in the Great Dyke, but larger mining companies are now interested in the area as demand increases.
• Zimbabwe’s reserves of platinum group metals (PGMs) are estimated to be around 1,200,000 kilograms.
• Zimbabwe’s major miners include Anglo American Platinum, Impala Platinum, Sibanye Stillwater, and Tharisa.
• Zimplats, which is 87% owned by Implats, is the country’s biggest platinum miner.

2. Russia

Russia is the second largest producer of platinum in the world. In 2022, Russia produced 20 metric tons of platinum, which is 10.6% of the global supply. Platinum was first discovered in Russia’s Ural Mountains in 1823. A bulk of Russia’s production of platinum group metals comes from Norilsk Nickel’s operations, which are primarily based on the Taymyr.

• Over the five years to 2021, production from Russia decreased by a CAGR of 2.98% and is expected to rise by a CAGR of 0.8% between 2022 and 2026.
• Russia’s platinum mines are mainly located in Krasnoyarsk Krai and Murmansk Oblast. Some of the top active mines in Russia include: Oktyabrsky Mine, Komsomolsky Mine, Taimyrsky Mine and Kola MMC Mine.
• Russia’s production is still 1/7th of South Africa’s platinum production.
• Russia’s mines have a high palladium-to-platinum ratio, unlike South African mines where platinum predominates.

1. South Africa

South Africa is the world’s largest producer of platinum. In 2022, South Africa’s platinum production was an estimated 140 metric tons, which is 73% of the world’s total production. South Africa’s platinum reserves are concentrated in three layers of the Bushveld Complex: the Merensky Reef, the UG2 chromitite layer, and the Platreef. The Bushveld Complex is 2 billion years old and is located in the Limpopo and North West provinces.

• Initially, platinum extraction began in 1925 from the Merensky Reef and in the 1970s, the UG2 Reef emerged as the primary platinum source in South Africa, contributing to the majority of the country’s platinum production.
• The Platreef, the third-largest platinum mine in the nation, saw limited mining activity until 1993.
• South Africa’s leading platinum producers include: Anglo American, Sibanye Stillwater, Impala Platinum, Northam Platinum.
• South Africa’s main destinations for platinum exports include: United States, Japan, United Kingdom, Germany, Hong Kong.
• In recent years, issues such as protests, labor strikes, safety concerns, and controversies involving mining companies have adversely affected the country’s mining sector.

FAQs on Top 10 Largest Platinum Producing Countries in the World

What are the 5 locations in the world where platinum is mined from?

The platinum is mined from Impala Mine, Marikana Mine (Lonmin), Mogalakwena Mine, Kola MMC Mine, and Rustenburg Complex.

Where is the biggest platinum mine in the world?

The Impala Mine in the North West province of South Africa is the world’s largest platinum mine. In 2021, it produced around 696.4 thousand ounces of platinum and an estimated 8.46 million metric tons per annum (mmtpa) of Run-of-Mine (ROM).

What country uses platinum the most?

In 2022, China was the world’s largest consumer of platinum, accounting for 34% of the world’s platinum consumption. Europe and North America were the second and third largest platinum consumers in 2022, respectively.

What is the world’s largest platinum producer company?

Anglo American Platinum is the world’s largest platinum producer, accounting for about 38% of the world’s annual supply. In 2021, Anglo American Platinum produced 2.4 million ounces of platinum.

How much platinum is mined in the world?

According to Statista, the world’s platinum production in 2022 was around 190 metric tons. South Africa is the world’s largest producer of platinum, accounting for about 72% of annual production.

Who is the largest producer of platinum in the world?

South Africa is the world’s largest producer of platinum, accounting for about 80% of the world’s production. In 2022, South Africa produced an estimated 140 metric tons of platinum, while Russia came in second place with about 20 metric tons.