About Platinum Mining
Platinum is a malleable and ductile metal and used in jewelry, dental appliances, electrical contacts, electrical equipment, corrosion-resistant equipment, missile nose cones, jet engine parts, catalysts and catalytic converters in automobiles. Platinum Mining is used to extract platinum ore that occurs in the deep underground. South Africa accounted for the largest share in the Middle East and Africa region followed by Russia and Zimbabwe. South Africa is also the world’s largest producer of platinum, accounting for 73% of global platinum production.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
In Platinum Mining Market, it has been observed that most of the companies are upgrading or introducing innovative services. They rely on strategies such as mergers & acquisitions, product development, geographical expansion, technological innovation and sourcing strategies to enhance their market share. Analyst at AMA Research estimates that Asia Pacific and South Africa Vendors will contribute the maximum growth to Global Platinum Mining market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Anglo American Platinum Ltd. (South Africa), Impala Platinum Holdings Limited (South Africa), Lonmin plc. (South Africa), Norilsk Nickel (Russia), Platina Resources Ltd (Australia), Aquarius Platinum plc (Bermuda), Wesizwe Platinum Ltd (South Africa), Zimplats Holdings Ltd (South Africa), Sedibelo Platinum Mines Limited (South Africa), Northam Platinum Ltd (South Africa), Incwala Resources (Pty) Ltd (South Africa) and Royal Bafokeng Platinum (South Africa) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Platinum Group Metals Ltd (Canada), Sino-Platinum Metals Co., Ltd. (China ), Jinchuan Group Ltd. ,(China) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Platinum Mining market by Type (Platinum, Palladium, Rhodium, Osmium, Ruthenium and Iridium), Application (Jewelry, Automotive Industry, Medical Care and Other) and Region.
On the basis of geography, the market of Platinum Mining has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Mining Equipment, the sub-segment i.e. Mineral Processing Equipment will boost the Platinum Mining market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Isotopes, the sub-segment i.e. 90Pt will boost the Platinum Mining market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Production of Platinum from South Africa
Market Growth Drivers:
Increasing Demand of Platinum from Automotive and Medical Applications, Rapid Industrialization and Increase in Mining Activities
Restraints:
Rising Labor Disruptions Coupled With Mining Safety Issues
Opportunities:
Growing Use of Platinum as Alloying Agent for Metal Products and Rising Demand for Technologically Advanced Platinum Mining Solutions
Market Leaders and their expansionary development strategies
In October 2019, North American Palladium Ltd signed a definitive arrangement agreement to acquire Canada-based Impala Platinum Holdings Limited for total cash consideration of approximately USD 751.77 million, marking the miner’s first purchase outside of Africa.
In May 2019, Anglo American Platinum opened its platinum group metal smelter at Unki Mine in Zimbabwe. The company invested USD 62 million to provide local beneficiation of minerals and is in line with the Government’s plans for economic growth in the country.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Platinum Mining Providers, Mining Equipment Suppliers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-User Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.