The World's Outlook for Platinum

ONE of the most interesting features of the world's platinum situation has been the steady increase of Russian production, which had dropped to 11,000 oz. in 1920, but increased to 92,000 oz. in 1926, and to probably over 100,000 oz. for 1927. It is ex-pected that Russian production of platinum will, be-fore long, closely equal its pre-war production, or approximately 200,000 oz. annually. The world production before the war was around 250,000 oz.; that for 1925 has been estimated at 160,000 oz., and for 1926 probably 170,000 oz. The consump-tion of platinum has, however, decreased. The esti-mate of the International Selling Agency was a de-mand of 130,000 oz. new platinum against a normal pre-war demand of over 200,000 oz. The high price of platinum during the war gave an added impetus to the search for substitutes for the metal, and sev-eral were developed that are now used extensively in place of platinum. The demand for platinum for high-class jewelry, however, was not greatly affected by the high prices, but "white" gold did replace platinum in the cheaper jewelry. Colombia is the most important producer of plati-num, next to Russia, and the production has increased from around 10,000 oz. pre-war production to 55,000 oz. or more in 1927. In 1924 important discoveries of platinum were made in South Africa. Prior to these discoveries practically all platinum was recovered from alluvial deposits, and the South African opera-tions are first to work an ore profitably for the pri-mary recovery of platinum. A number of companies were formed to develop these deposits, but only a few made any real progress. Total production for 1926 was about 5000 oz. The United States production is unimportant; that in Canada has increased to around 9000 oz., principally as a by-product in nickel-copper ores.