Global platinum production to rise marginally to 2020

Global platinum mine or metal content in ore production is set to rise from 6.4-million ounces in 2015 to 6.7-million ounces by 2020, representing a compound annual growth rate (CAGR) of 1.7%, the latest report from research and consulting firm GlobalData reveals. GlobalData mining research and analysis head Cliff Smee explained that there were a number of factors affecting demand for platinum. According to GlobalData, 42.1%, or 3.9-million ounces of platinum, will be consumed in production of autocatalysts in 2020, followed by its use in jewellery, with 3.3-million ounces, and the remaining 2.1-million ounces for uses such as industrial applications.”