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Global platinum production fell 9% in 2020

Vladimir Basov

Kitco News

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(Kitco News) - According to the preliminary data released by the U.S. Geological Survey (USGS), global mine platinum production was 170,000 kilograms in 2020, a 9% decline compared to 2019 (186,000 kilograms).

USGS said that production of platinum in South Africa, the world’s leading supplier of PGMs, decreased by 10% to 120,000 kilograms in 2020 compared with that of 2019 owing to temporary lockdowns related to the COVID-19 pandemic as well as increased labor costs, increased costs for electricity, an unreliable supply of electricity, and challenges related to deep-level mining.

USGS estimates that the world’s PGMs resources are amounted to more than 100 million kilograms. The largest reserves are in the Bushveld Complex in South Africa.

By Vladimir Basov

For Kitco News

Contact vbasov@kitco.com
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