QUICK GUIDE
• Platinum is one of the rarest elements in the Earth's crust – roughly 30 times scarcer than gold.
• The name platinum is derived from the Spanish term platina, which is literally translated into "little silver".
• It was used by pre-Columbian Americans to produce artefacts of a white gold-platinum alloy.
• But Spanish conquistadors thought it was a nuisance, being difficult to separate from gold nuggets.
• In the 1920s, two platinum deposits each of around 100 kilometres in length were discovered in the Transvaal.
• Today, South Africa has 80% of the world's platinum reserve.
• Ten tons of ore requiring six months of mining are needed to produce a single ounce of platinum.
• Platinum has been used as a catalyst since the early 19th century. These days half of world demand is for use in autocatalysts, where it destroys pollutants in vehicle exhaust fumes.
• In the 1980s, rising prices prompted the introduction of a variety of bars and coins to meet demand for platinum as a physical investment product.
The Australian Platypus is a limited 1oz platinum bullion coin made by The Perth Mint for investors. • First and foremost an industrial metal, however, platinum prices are vulnerable during economic recession.
• Also, supplies are at greater political and geological risk compared to other precious metals as production is largely restricted to a handful of mines.
• The price of platinum has risen in recent weeks on supply fears after labour unrest and violence halted production in South Africa.