Platinum Group Metals in Canada: Facts & Statistics

Platinum Group Metals in Canada: Facts & Statistics

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Platinum Group Metals in Canada - Facts and Statistics

Did you know that Canada is home to the fifth-largest global reserves of platinum group metals (PGMs)? These precious materials are in increasing demand worldwide because of their use in various industrial applications including the automotive and chemical sectors.

Today, Canada is home to just one single dedicated PGM operation near Thunder Bay in Western Ontario. However, most of the country's extracted platinum group metals are by-products of nickel mining.

To paint a clearer picture of platinum group metals in Canada, we've collected several facts below. Also see:

11 Canadian Platinum Group Metal Mining Facts

 

Canadian platinum group metals facts and statistics

  1. Canada was the fourth-largest producer of PGMs in the world in 2022, accounting for roughly 5.5% of global production [1]
  2. Canada was home to the fifth-largest global reserves of platinum group metals in 2022 [2]
  3. The top five global PGM producers in 2022 were South Africa (1), Russia (2), Zimbabwe (3), Canada (4) and the United States (5) [1]
  4. Canada is a significant global producer of PGMs, ranking third in palladium production and fourth in platinum production globally [1]
  5. Concentrated in Ontario, Quebec and Manitoba, Canadian PGM mine production totalled about 710,000 troy ounces in 2022 [1]
  6. Ontario accounted for 78% of Canada’s PGM production in 2022 [1]
  7. Canadian mine production of PGMs, by element in 2022 [1]:
    1. 75% - Palladium
    2. 23% - Platinum
    3. 2% - Rhodium
  8. Canadian domestic exports of refined and semi-fabricated PGM products were valued at $507 million in 2022, a 22% decrease in value and 3% decrease in volume year-over-year [1]
  9. The USA accounted for 77% of Canadian exports of unwrought, power or semi-manufactured PGMs, Switzerland accounted for 22%, and five other countries accounted for the remaining 1% of Canadian exports [1]
  10. Quebec exported 89% of the value of Canada’s PGM product exports, worth $454 million, while Ontario exported 10%, worth $53 million, in 2022 [1]
  11. An estimated 17.4 million troy ounces of PGMs were supplied globally in 2022, 72% of which came from mining and the rest from recycling [1]

What are Platinum Group Metals?

natural platinum nugget facts canada

While most people are familiar with platinum, the other metallic elements included in the PGMs aren’t always known.

The “Platinum Group Metals” include six metallic elements:

  • Platinum
  • Palladium
  • Rhodium
  • Ruthenium
  • Osmium
  • Iridium

All PGMs have similar chemical and physical properties and are generally found in the same mineral deposits and reserves.

In Canada, PGMs were first discovered embedded within nickel-copper deposits in Western Ontario in 1888. Following the discovery, Canada became a major global supplier of PGMs from the end of the First World War to the 1950s.

Today, Canada's wealth of PGMs means we have the opportunity to be a go-to supplier while producing these metals under one of the most stringent mining regulatory regimes on the planet.

Where are PGM's Found in Canada?

canada top global producer of many minerals and metals

Canada has one PGM mine located in western Ontario near Thunder Bay, but as mentioned before, most of these metals are recovered as co-products in nickel mining operations. For example, large amounts of PGMs (mostly palladium) are extracted from the Raglan Nickel Mine in northern Quebec and also in Manitoba.

Today, 78 per cent of PGM production occurs in Ontario, with the remainder coming from Quebec, Manitoba and Newfoundland and Labrador.

Canadian mines shipped 705,000 troy ounces of PGMs in 2022 [1]. Troy ounces require a rigorous process to manufacture. Refining platinum ore, for example can take anywhere from two to six months to process, and requires up to 11 tonnes of ore to produce a single troy ounce of platinum [2].

Uses of Platinum Group Metals

uses of platinum group metals mined in Canada

PGMs are used in various technological applications in everyday life. Catalytic converters, for example, account for a majority of PGM usage globally, which are added to vehicles and help improve air quality, especially in major urban centres.

Global use of PGMs, by category (2022):

  • Automotive (61%)
  • Chemical (10%)
  • Jewellery (8%)
  • Electronics (7%)
  • Glass (5%)
  • Medical (2%)
  • Pollution control (2%)
  • Others (5%)

History of PGMs in Canada

Platinum was first discovered within nickel-copper ores in Ontario in 1888. The Sudbury Basin has the largest number of PGM-producing mines and was discovered in 1883 during the building of the Canadian Pacific Railway. By 1886, copper mining had begun along with nickel production to follow several years later.

The formal production of PGMs in Canada began around 1908 when the International Nickel Company opened a refinery in the United Kingdom to specifically exploit Canadian ores.

Come 2021, Canada is one of the largest producers and reserve holders of PGMs. With the fifth-largest global reserves, Canada has an incredible opportunity to continue developing these resources and be a go-to global supplier of choice.

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Mining in Canada is critical to our economic prosperity, supporting hundreds of thousands of jobs across the county. With our vast mining resources comes a responsibility to cement ourselves as a global mining leader and ensure the industry continues to develop for the benefit of Canadian families and our economic prosperity.

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SOURCES:

1 - https://natural-resources.canada.ca/our-natural-resources/minerals-mining/mining-data-statistics-and-analysis/minerals-metals-facts/platinum-facts/20520

2 - https://medium.com/@allwastematters/10-interesting-facts-about-platinum-that-will-make-you-consider-refining-it-e863537d891f