Platinum-group metals (PGMs) include platinum, palladium, rhodium and other metals, all of which are prized for their durability, resistance to corrosion and excellent catalytic properties. The automotive industry is the world’s largest consumer of these metals, which among other things are used in catalytic converters for vehicle exhaust systems. A rebound and continued growth in auto production is projected in the coming years, particularly in developing markets, and this should increase demand for PGMs, especially when it comes to platinum and palladium. On the supply side, the platinum market slid into a significant deficit in 2024, which has extended into 2025 and is expected to continue into the next year. These fundamentals led platinum prices to a 12 year high of US$1,495 per ounce on September 23, 2025. But where do platinum and palladium come from? The list of the world’s top palladium- and platinum-mining countries is a short one,…
