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Platinum is extracted as a by-product of nickel and copper mining (as are other elements) as it's primary source, unlike gold and copper which are mined for the
by stonesweep 6y ago
Platinum is extracted as a by-product of nickel and copper mining (as are other elements) as it's primary source, unlike gold and copper which are mined for their element directly. Not arguing your point (45% of platinum is used in auto) only that how we get Pt and Pd is already in progress to get at the other elements like Cu, Au and Ag.
- Robotbeat 6y agoBut IS it a mere byproduct? If it adds significant revenue, it’s no longer a mere byproduct but now part of the business proposition of the mine. About $30 billion of nickel is mined per year. About $8 billion in platinum mined per year. 30 tons of rhodium are mined per year, which at current >$900/gram prices, means the revenue from rhodium is actually HIGHER than platinum and on par with nickel. So you could as well argue that nickel is a byproduct of rhodium (and platinum group metal) production.
- stonesweep 6y agoThe USA mints alone use roughly 4,400 tonnes of nickel to produce coins every year (one specific industry with one type of output in one country). Around 133 tonnes of platinum and 1,800 tonnes of gold are mined per year in total for all use globally.