Palladium is one of the most popular platinum metals. Other platinum-group metals include platinum and rhodium. It is known for its outstanding catalytic properties, resistance to corrosion, and durability. As the automotive industry continues to grow, it is the largest consumer of such metals in the world.
With car production predicted to rise in the coming years, especially in developing markets, there is likely to be a huge demand for palladium. In fact, there is a supply deficit when compared with the demand for palladium. Hence, the cost of palladium is also increasing by the year. If you are interested in learning more about the top palladium producing countries, you have come to the right place. This post lists the top producers to help you get an idea about which countries are leading the pack.
- South Africa
One of the biggest producers of palladium is South Africa. Studies reveal that it produces the most platinum and palladium in the world. It has been found that in the year 2017 alone, South Africa produced 78,000 kilograms of palladium and 140,000 kilograms of platinum. Holding the largest reserves of platinum-group metals in the world, it is obvious why South Africa is the largest producer of the metal. Its reserves of over 63 million kilograms are unrivalled. In fact, the country extracts about 75% of the platinum in the world.
In 2017 alone, the World Platinum Investment Council reported that platinum production in South Africa had increased by up to 20% in comparison to 2016. This had been largely possible due to greater efficiency. But, it is important to note that palladium production fluctuations are a common trend. In 2018, the country experienced a reduction in platinum output. However, it palladium production has only been increasing every year since automobile manufacturers rely on the valuable metal for producing exhaust fans and other parts.
Another major producer of palladium is Russia. Although the largest country in the world does not produce a lot of platinum in comparison to South Africa, it produces greater palladium than the African nation. In 2017, the mighty nation produced 81,000 kilograms of palladium and 21,000 kilograms of platinum. This shows that the country produces a ton of palladium. Moreover, the country continues to increase its output every year which shows that it is the leading country in the world when it comes to producing palladium.
Norilsk Nickel is considered to be the biggest palladium producer in the world. It is a Russian giant that has created a fund for developing relations with the holders of the current metal stock. Its full year production report in 2017 showed that production of palladium has increased by 6% and is expected to increase. Russia dominates the charts in producing palladium. It does not stop to give way to any other country. Moreover, Russian palladium is highly sought after. Many major automobile companies rely on Russian palladium for creating their automobiles.
Zimbabwe is also an African nation that is the top palladium producers. It produces about 12,000 kilograms of palladium and 15,000 kilograms of platinum.
The mines minister in Zimbabwe, new royalty requirements were introduced on unrefined platinum-group metals that were exported out of the country in 2013. The royalties had been designed to ensure that the processing of platinum-group metals took place in the country. Then, when Robert Mugabe resigned, Emmerson Mnangagwa, the new president was appointed who developed a great deal that allowed for the mining community to pay interest on the platinum-group metals mined.
The president had even rolled back a law that required mining corporations to be owned locally to boost the economy. Even though some people believe that it would take much longer for confidence and trust to be rebuilt, the government has already invested billions in mining commitments in hopes of bringing back major producers. Zimplats is the largest platinum miners in Zimbabwe. It owns about 87% of Impala Platinum Holdings which is a South African holdings company that owns about 48,535 hectares of mining land.
Canada is another top palladium producing country that produced about 19,000 kilograms of palladium and 12,000 kilograms of platinum in 2017 alone. It is a major player in the market. Holding 310,000 kilograms of reserves, it does not hold a lot of palladium at the present in comparison to other nations. However, Canada aims to continue exploring platinum-group metals in order to discover new deposits. Although palladium production had dropped to 19,000 kilograms from 21,000 kilograms in 2017, the country is trying to improve its quality.
North American Palladium is one of the two palladium producers in the entire world. It has a flagship mine that is located in Ontario in Lac des Iles. The mine has been in operation since 1993 and continues to produce thousands of ounces of palladium.
- United States
Finally, the last country on the list is United States. It produced 13,000 kilograms of palladium and 3,900 kilograms of platinum in 2017. There is only one producer of platinum-group metals in the country and that is Stillwater Mining Company. The company was acquired by Sibanye Gold, a South African mining company in 2017. Sibanye paid $2.2 billion to expand its operations into the country in order to reduce its dependence in South Africa as its mines were aging. Sibanye-Stillwater is the combined company. The combined mines produced 376,356 ounces of platinum-group metals in 2017 alone.
The company also has a laboratory, refinery, and smelter in Montana. The United States might also hold a greater share of palladium. Hence, there is a need for exploration to discover this valuable metal.
Once you have finished reading this post, you will know about the top palladium producing countries. You can ask the mining parts supplier to tell you about where the mining parts originate from. From South Africa to United States, the countries mentioned in this list produce a ton of palladium and titanium. Hence, they are a great place to purchase palladium.