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General
  • Platinum Refineries is a full service refiner, assayer, smelter and broker of all precious metals. Industrial Platinum, Medical Platinum, Jewelry Platinum, Rhodium, Palladium, Gold and Silver assaying and refining.
  • Platinum Refineries provide customers with a state-of-the-art laboratory, utilizing the most advanced induction and chemical techniques to extract every grain of precious metals contained in your Platinum, Rhodium, Palladium, Gold and Silver scrap.
  • Platinum Refineries never charge refining fees, and with a variety of settlement options, fast turn-around time, and our precise and accurate assays our services are unparalleled in the industry.

Process

  • The mining of platinum ores is similar to gold mining. This enables a progressive method of mining - the reef is drilled and blasted to advance the face, support being installed for local control of the hanging wall. As in gold mines, platinum mining is incorporating the increased use of mechanisation and trackless-mining methods.
  • Platinum mining, however, differs from gold mining in several ways. Unlike gold reefs, which are sedimentary deposits resulting from the settling of granular particles on the bed of an inland lake and subjected to great pressure, platinum reefs are igneous rocks. They were intruded into the Bushveld area as molten volcanic magmata rising from below the earth's crust, later cooling and solidifying. This phenomenon created a strata control environment differing markedly from that of gold mines.

Technology

  • Setting and mounting techniques include: Drill at a slow speed,Start holes with a pilot drill and then use a,drill size smaller than the stone to finish, Use sharp drills, resharpening often, Lubricate with beeswax or methyl salicylate frequently, if the drill breaks, dissolve out with 30% sulphuric acid, Use a new or well-cleaned burr only as much as necessary to finish the seating,Keep millgrain wheels and burnishers meticulously clean and reserved only for platinum.
     

Market

  • The demand for platinum group metals(PGMs) has therefore increased exponentially and now some seven million ounces of platinum and 6.5 million ounces of palladium are used annually, of which 40% of platinum and 65% of palladium are used in catalysts.
  • This growing demand has encouraged an exploration boom for PGMs, which are relatively rare in the geological record.

Report

  • The Gencor-Lonrho report includes a careful analysis of the platinum market.The portion of platinum demand accounted for by industrial processes and autocatalysts is price-inelastic, probably with a very low price elasticity, since there are basically no substitutes for platinum for these purposes, apart from limited substitution possibilities between platinum and palladium for certain types of autocatalysts.
  • The price elasticity for jewellery demand on the Japanese market was found to be rice-inelastic with an elasticity of 0,6. Since autocatalysts and industrial processes account for about 51% of the market, and the Japanese jewellery market for about 34%, this means that the priceelasticity of 85% of the global platinum market is highly inelastic.
     

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