Platinum group metals (PGMs) play a pivotal role in a wide range of industries, making them highly valuable and indispensable resources in today’s global economy. Comprising six metals – platinum, palladium, rhodium, ruthenium, iridium, and osmium – PGMs are renowned for their exceptional properties such as high resistance to corrosion, excellent catalytic activity, and remarkable durability under extreme conditions. These unique characteristics have positioned them as essential components in a variety of technological applications, from automotive manufacturing to electronics and even medicine.
One of the primary uses of PGM metals is in catalytic converters for vehicles. These metals are integral to reducing harmful emissions, as they facilitate the conversion of toxic gases into less harmful substances before being released into the atmosphere. With global efforts increasingly focused on reducing air pollution and meeting environmental regulations, the demand for PGMs continues to rise, particularly as electric vehicles and hybrid technologies evolve. The automotive sector’s reliance on these metals underscores their importance in advancing greener transportation solutions.
In the realm of electronics, PGMs are also highly sought after for their role in improving efficiency and performance. Their excellent conductivity and resistance to heat make them crucial for manufacturing components in computers, mobile phones, and various other high-tech devices. As the demand for cutting-edge electronics grows, PGMs remain central to the development of more efficient, reliable technologies.
Beyond industrial applications, PGMs have found a place in the medical field, where their unique properties are leveraged in devices like pacemakers, dental alloys, and cancer treatments. Platinum-based compounds, for instance, are widely used in chemotherapy to treat various types of cancer, thanks to their ability to damage cancer cells while minimising harm to healthy ones. Additionally, the durability and biocompatibility of PGMs make them ideal for use in medical implants and surgical instruments.
PGMs are not only vital for technological and medical advancements, but they also play a significant role in the jewellery industry. Platinum, in particular, is highly prized for its lustre, strength, and hypoallergenic qualities, making it a popular choice for crafting fine jewellery and luxury watches. The growing demand for high-end jewellery continues to drive the market for platinum and other PGM metals, reinforcing their value beyond industrial uses.
Mining PGMs is a complex process, given the metals’ rarity and the challenges associated with their extraction. These metals are found in limited geographical regions, with South Africa, Russia, and Zimbabwe being among the largest producers. Despite the difficulties in sourcing PGMs, advancements in mining technology and recycling efforts have helped ensure a steady supply. In particular, recycling catalytic converters has become a key strategy in supplementing the supply of these precious metals, as it offers an environmentally friendly approach to recovering valuable resources.
PGM metals are invaluable to numerous sectors, from automotive and electronics to medicine and luxury goods. Their unique properties and broad range of applications ensure that demand for these metals will remain strong in the coming years, especially as industries continue to innovate and adopt greener, more sustainable practices.
Alien Metals Ltd (LON:UFO) is a global minerals exploration and development company that will shortly make the transition to iron ore producer. The company was formed from Arian Silver in late 2018, retaining some of the companies more valuable Mexican projects before embarking on an acquisition led strategy, headed up by an excellent geological team and targeted entirely on Western Australia.
