A Look at Platinum Mining in Russia

Summary: Russia is the second largest producer of platinum in the world with 26,000 kilograms being mined each year. South Africa is the only nation in the world with more – 128,000 kg annually. It’s estimated that there are 1.1 million kg of recoverable platinum in Russia. The U.S. Geological Survey estimates that platinum production in Russia will grow by 9000 kg between 2011 and 2015. Platinum and similar metals (PGEs) have been mined in Russia for centuries. Roughly 20% of its reserves come from alluvial deposits. The majority of reserves can be found in the Far East and the Ural Mountains. Read more…