PGMs...A Pretty Good Menagerie of Metals
January 22nd 2009 02:30
The six metals that comprise the Platinum-Group Metals or PGMs are iridium, osmium, palladium, platinum, rhodium, and ruthenium.
The majority of platinum (approximately 75 percent) finds its way into catalytic converters on vehicles. A major portion of the remaining 25 percent finds use in jewelry. Other uses for platinum and the other PGMs are in fuel cells, flat panel monitors, medical tools, computer hard drives, hydrogen purification, and coinage.
In the United States, the Stillwater Mining Company based in Montana is the only U.S. producer of palladium and platinum. Platinum Group Metals ( yes, that's their name) is another company engaged in platinum production. They have their bases in Vancouver, British Columbia, Canada and Johannesburg, South Africa.
Mining companies typically find PGMs together in ore deposits. Platinum has a reputation for purity, high melting points, resistance to corrosion, and significant stability at high temperatures.
South Africa is where more than 80 percent of the world's platinum rests. Thirty percent of the world's palladium is in South Africa. Russia is another major source of PGMs.
When prices are low for PGMs then producers must get their costs in line to remain profitable. With the current downturn in the auto industry, there is less demand for platinum, which is used in the manufacture of the aforementioned catalytic converters.
Rhodium is resistant to corrosion, and is known for its hardness and ductility. Platinum and rhodium are found together in the earth with rhodium extracted from the sludge that remains after the removal of platinum from ore.
Grade of metals is the concentration of an ore metal in a rock sample. It is either as a weight percent for base metals or in grams per tonne (g/t) or ounces per short ton (oz/t) for precious or platinum group metals. Typically, platinum mines in South Africa have a grade of 4 to 6 grams per tonne.
The Gross Metal Value (GMV) or Gross In-Situ Metal Value (GIMV) is a broad estimate of the value of one tonne of rock from a mine or deposit. This value has as its basis metal prices and grade. However, this is before the factoring in of extraction, recovery, and other associated production costs.
Point of Interest: W. H. Wollaston, a British chemist, discovered palladium in 1803. Palladium received its name from the asteroid Pallas, discovered at approximately the same time, and from the Greek name Pallas, goddess of wisdom. W.H. Wollaston pioneered techniques for the separation of platinum group metals. His techniques are considered the basis for modern PGM's metallurgy.
The majority of platinum (approximately 75 percent) finds its way into catalytic converters on vehicles. A major portion of the remaining 25 percent finds use in jewelry. Other uses for platinum and the other PGMs are in fuel cells, flat panel monitors, medical tools, computer hard drives, hydrogen purification, and coinage.
In the United States, the Stillwater Mining Company based in Montana is the only U.S. producer of palladium and platinum. Platinum Group Metals ( yes, that's their name) is another company engaged in platinum production. They have their bases in Vancouver, British Columbia, Canada and Johannesburg, South Africa.
Mining companies typically find PGMs together in ore deposits. Platinum has a reputation for purity, high melting points, resistance to corrosion, and significant stability at high temperatures.
South Africa is where more than 80 percent of the world's platinum rests. Thirty percent of the world's palladium is in South Africa. Russia is another major source of PGMs.
When prices are low for PGMs then producers must get their costs in line to remain profitable. With the current downturn in the auto industry, there is less demand for platinum, which is used in the manufacture of the aforementioned catalytic converters.
Rhodium is resistant to corrosion, and is known for its hardness and ductility. Platinum and rhodium are found together in the earth with rhodium extracted from the sludge that remains after the removal of platinum from ore.
Grade of metals is the concentration of an ore metal in a rock sample. It is either as a weight percent for base metals or in grams per tonne (g/t) or ounces per short ton (oz/t) for precious or platinum group metals. Typically, platinum mines in South Africa have a grade of 4 to 6 grams per tonne.
The Gross Metal Value (GMV) or Gross In-Situ Metal Value (GIMV) is a broad estimate of the value of one tonne of rock from a mine or deposit. This value has as its basis metal prices and grade. However, this is before the factoring in of extraction, recovery, and other associated production costs.
Point of Interest: W. H. Wollaston, a British chemist, discovered palladium in 1803. Palladium received its name from the asteroid Pallas, discovered at approximately the same time, and from the Greek name Pallas, goddess of wisdom. W.H. Wollaston pioneered techniques for the separation of platinum group metals. His techniques are considered the basis for modern PGM's metallurgy.
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