IC 8897 Platinum Availability - Market Economy Countries - A Minerals Availability System Appraisal

The Bureau of Mines investigated the availability of platinum from known major deposits in market economy countries. Fifteen of these deposits contain demonstrated resources totaling 302 million troy ounces of platinum. Detailed geologic, engineering, and cost evaluations were performed on each deposit to determine its potential for platinum production. There are large amounts of demonstrated platinum potentially available from market economy deposits that were not analyzed owing to lack of adequate data or to technological limitations. These include 297 million troy ounces contained in the UG2 and Platreef of the Bushveld Complex, South Africa. This analysis indicates that about 11 0 million troy ounces (2.3 million ounces annually) of platinum are potentially available at the January 1980 producer price of $420 per troy ounce, nearly all from South Africa. An additional 85 million troy ounces occurring in Zimbabwean deposits would become available only through more than a quadrupling of that price. In order to meet projected world demand of 3.5 million troy ounces in 1990, platinum price may have to increase. Only one domestic deposit, the Salmon River in Alaska, is capable of producing platinum at $420 per troy ounce. Regardless of price, at assumed production capacities, domestic deposits could supply less than 10 percent of annual U.S. requirements.