Can platinum be found on Earth?

Where it’s found: Platinum in the Earth’s crust originates from ultra-mafic igneous rocks. It can therefore be associated with rocks like chromite and olivine. In nature, pure platinum is unknown and well formed crystals are very rare.

Is platinum rare on Earth?

Platinum is an extremely rare metal, occurring at a concentration of only 0.005 ppm in Earth’s crust.

How much is platinum above ground?

Estimated: about 8 million ounces of . 999 fine platinum bullion. This estimated 8 million ounces of . 999 fine platinum bullion above ground supply is valued at approximately USD 7.44 billion in current value based on a current fiat Fed note $930 oz platinum spot price.

Is platinum rarer than gold?

For starters, gold is far more abundant in the earth’s crust, making platinum rarer. Whilst 1,500 tons of gold are mined annually, only 160 tons of platinum are extracted. Platinum is also denser than gold, thus heavier.

Where do you find platinum naturally?

Platinum is found in its pure native form or in platiniridium, a natural alloy of platinum and iridium. Platinum is present in thin sulfide layers in certain mafic igneous bodies and is mined in Canada, Russia, South Africa, the USA, Zimbabwe and Australia.

What kind of rock is platinum found in?

Platinum is nearly always found in basic igneous rocks, such as peridotite and dunites, and in serpentine derived by alteration of such rocks. By disintegration of these rocks and concentration in stream gravels, platinum accumulates in placers.

Is platinum rarer than silver?

Platinum Rarity Platinum is much rarer than gold or silver. In fact, the global supply of platinum is estimated to be 1/10th that of gold and 1/100th that of silver.

How much gold is there on earth?

About 244,000 metric tons of gold has been discovered to date (187,000 metric tons historically produced plus current underground reserves of 57,000 metric tons). Most of that gold has come from just three countries: China, Australia, and South Africa. The United States ranked fourth in gold production in 2016.

How much platinum do we have left?

Total worldwide reserves of platinum metals are estimated to be some 69,000 metric tons. Almost all of it, some 95 percent, is located in the Earth’s crust of South Africa….Platinum metal reserves worldwide as of 2020, by country (in metric tons)