Platinum
Platinum is a precious metal with a silver-like appearance, widely used to manufacture catalytic converters and in jewellery making.
Platinum is ductile, malleable, stable at high temperatures, and exhibits outstanding resistance to corrosion, including against many chemical processes in the human body. Along with iridium, osmium, palladium, rhodium, and ruthenium, it is one of the six platinum group metals (PGM), all of which are very rare.
South Africa is by far the largest producer of platinum, providing over nearly two-thirds of global supply, followed by Russia and Zimbabwe.
Platinum mining is both labour- and capital-intensive. It can take over seven tonnes of ore to produce 30 grams of pure platinum. As it is rarely found in sufficiently high concentrations for extraction to be commercially viable, considerable amounts are produced as by- or co-products of other metals, such as nickel and copper. It is primarily used as a catalyst in chemical reactions, particularly in manufacturing catalytic converters for the automotive industry. While this application has historically accounted for about 50% of annual platinum demand globally, uptake of electric vehicle use – alongside geopolitical impacts – have caused considerable volatility in PGM markets in recent years.
Key ESG issues associated with the platinum supply chain include corruption, labour rights violations, occupational health and safety concerns, and pollution.
Main uses and applications
Approximately half of global platinum demand comes from the manufacture of catalytic converters for use in the automotive industry, which convert unburned hydrocarbons from fuel combustion into less harmful waste products. As of 2022, an estimated 95% of all commercially available automobiles were fitted with a catalytic converter, but this figure has shifted quickly with broader market uptake of electric vehicles, which are catalytic converter-free. As of 2025, there is increasing demand for platinum in emerging hydrogen technologies, where it serves as a catalyst in electrolyzers and fuel cells. Considerable growth in demand for platinum in hydrogen end markets is anticipated by 2030, potentially representing a meaningful share of platinum consumption as hydrogen infrastructure expands globally.
As well as being one of the least reactive metals, platinum is also highly resistant to both corrosion and tarnishing – properties which make it ideal for jewellery manufacture. The jewellery industry accounts for roughly 35% of platinum use, with the largest markets located in China, Japan, India and the United States.
Platinum also has medical applications in products such as including dental protheses, surgical equipment, implants, and chemotherapy medication. Various electronic components also contain platinum, such as hard disks, liquid crystal displays, optical fibres and wiring.
Key Industries
-
Auto
-
Chemicals
-
Jewellery
Key Countries
Top Producer
South Africa
Top Reserves
Zimbabwe
Supply Chain Risk
TDi Sustainability's data rates Platinum's association with the following issues as high or very high:
Strength of Association with ASM
Association with ESG issues
TDi Sustainability's data rates Platinum's association with the following issues as high or very high:
Disease prevalence in affected communities
Pollution