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QUICK GUIDE
• Platinum
is one of the rarest elements in the Earth's crust – roughly 30 times scarcer than gold.
• The name
platinum is derived from the Spanish term platina,
which is literally translated into "little silver".
• It was used by pre-Columbian Americans to produce artefacts
of a white gold-platinum alloy.
• But Spanish
conquistadors thought it was a nuisance, being difficult to separate from gold nuggets.
• In the 1920s, two
platinum deposits each of around 100 kilometres in length were discovered in the
Transvaal.
• Today,
South Africa has 80% of the world's
platinum reserve.
• Ten tons
of ore requiring six months
of mining are needed to produce a single ounce of platinum.
• Platinum
has been used as a catalyst
since the early 19th century. These days half of world demand is for use in autocatalysts, where it destroys pollutants in vehicle exhaust fumes.
• In the 1980s, rising
prices prompted the
introduction of a variety of bars and coins to meet demand for platinum as a physical investment product.
 
The
Australian Platypus is a limited 1oz platinum bullion coin made by
The Perth Mint for investors.
• First and foremost
an industrial metal, however, platinum prices are vulnerable during economic recession.
• Also,
supplies are at greater political and geological risk compared to other precious metals as production is largely restricted to a handful of mines.
• The price
of platinum has risen nearly 20% in recent weeks on supply fears after labour unrest and violence halted
production in South Africa.
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