How to Trade Platinum (PLATINUM)

German geologist Hans Merensky discovered economically viable platinum deposits in the Bushveld Igneous Complex in northern South Africa in 1924. The complex holds over 80% of global platinum reserves. Rustenburg Platinum Mines, founded in the 1930s, became the largest platinum mining operation in the world.

The US Clean Air Act of 1970 required vehicles to use catalytic converters to reduce emissions. Platinum (along with palladium) became a key catalyst in these systems, driving a surge in automotive demand and transforming platinum from a jewelry metal into an industrial necessity.

Strong demand from automotive and industrial sectors drove platinum group metals (PGMs) prices higher. South African mining stocks such as Anglo American Platinum and Impala Platinum surged 30–60x from late-1990s lows to pre-2008 financial crisis peaks.

On August 16, 2012, South African police shot and killed 34 mine workers at Marikana, a Lonmin operation. It was the deadliest incident since the apartheid era, severely disrupting production and prompting foreign investors to reassess South African mining risk.

Following the 2015 Volkswagen Dieselgate scandal, demand for platinum in diesel engines declined. However, hydrogen fuel cell technology is emerging as a new demand driver. Platinum is used as a catalyst in both PEM fuel cells and electrolysers, key components of the green hydrogen economy.