London, 14 October 2010

A new report, commissioned exclusively by Johnson Matthey's Platinum Metals Review, noted that the platinum group metals are prevalent enough to meet demand for many years to come. The metals are a key component of the move towards a global low-carbon economy.

They are already used in catalytic converters to reduce harmful gases being released from vehicle exhausts and will become more crucial as emissions regulations continue to tighten around the world.

In addition, pgms are expected to be at the forefront of future developments in transport and energy through their role as catalysts in fuel cells.

Some observers have expressed concerns about the fact that more than three-quarters of the world's PGM resources are limited to one region - the Bushveld Complex in South Africa.

However, Professor R Grant Cawthorn, of the School of Geosciences at the University of the Witwatersrand, has moved to dismiss fears about 'running out' of platinum.

He noted in the report that there are about 350 million ounces of platinum for every 1km of depth into the Bushveld ground, but that annual production from the region is just five million ounces at present.

As a result, he explained that there is "abundant and adequate geological evidence" that its deposits are far larger than mining companies have been able to prove or exploit to date.

"There are enough platinum group element deposits … to supply world demands for many decades or even a century using current mining techniques," he said.

The Bushveld Complex contains the world's largest deposits of platinum, palladium, rhodium, ruthenium, osmium and iridium, while also boasting large quantities of iron, tin, chromium, titanium and vanadium.

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Source: The Platinum Group Element Deposits of the Bushveld Complex in South Africa (10/10)