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Platinum and platinum group metals are produced in Zimbabwe and South Africa. Of the multitudes of companies involved in producing platinum group metals in these two countries, these are the principal operators: [ citation needed ]
American Platinum Eagle, the official platinum bullion coin of the United States. Investment in platinum is often compared in financial history to gold and silver, which were both known to be used as money in ancient civilizations. Experts posit that platinum is about 15–20 times scarcer than gold and approximately 60–100 times scarcer than ...
South Africa is home to 80% of the world's known platinum reserves, and produces about 70% of the world's supply. [1] [2] Platinum prices have been flat since 2009 or so, due to weak demand for catalytic converters, the primary use of platinum in industry. [3] [4] Meanwhile, other costs have risen, putting pressure on the mining industry. [4]
In 2010, South Africa was the top producer of platinum, with an almost 77% share, followed by Russia at 13%; world production in 2010 was 192,000 kg (423,000 lb). [35] Large platinum deposits are present in the state of Tamil Nadu, India. [36] Platinum exists in higher abundances on the Moon and in meteorites.
The history of African metallurgy is a testament to the ingenuity and resilience of African societies. From the earliest use of copper and iron to the complex metallurgical traditions that supported powerful states and vibrant trade networks, metalworking has been integral to Africa's social, economic, and cultural development .
The metals of antiquity are the seven metals which humans had identified and found use for in prehistoric times in Africa, Europe and throughout Asia: [1] gold, silver, copper, tin, lead, iron, and mercury. Zinc, arsenic, and antimony were also known during antiquity, but they were not recognised as distinct metals until later.
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Platinum was first used for minting coins in Spanish-colonized America. Following the discovery of platinum in gold rocks, the Spaniards were unable to use it for a long time because they had no technology for processing this metal. The then-cheap platinum was used for various kinds of frauds, such as substituting it for the more expensive silver.