Platinum is a naturally occurring, precious transition metal known for its distinctive silver-white luster. It is designated on the periodic table by the chemical symbol Pt and has an atomic number of 78. As a member of the noble metals, platinum is highly valued for its aesthetic appeal and remarkable physical and chemical properties.
Defining the Metal’s Core Properties
Platinum exhibits an extremely high density, measuring approximately 21.45 grams per cubic centimeter, making it significantly heavier than gold. It also exhibits a high melting point, reaching about 1768 degrees Celsius (3214 degrees Fahrenheit), allowing it to maintain stability in extreme heat environments.
The metal’s chemical inertness classifies it as one of the least reactive metals. Platinum is highly durable and resistant to attack from most common acids. However, it can be dissolved by aqua regia, a mixture of nitric and hydrochloric acids.
The most economically significant trait is its powerful catalytic ability. Platinum acts as a catalyst, accelerating chemical reactions without being consumed. This function is rooted in its surface chemistry, allowing reactant molecules to bind and rearrange quickly before detaching as new products.
Source and Global Rarity
Platinum belongs to the Platinum Group Metals (PGMs), which also includes palladium, rhodium, ruthenium, iridium, and osmium. These metals are often found co-existing in the same ore deposits. Platinum is among the rarest elements, with an average crustal abundance of only about five micrograms per kilogram.
The metal’s scarcity is compounded by the difficulty and cost of extraction, contributing to its high market value. Platinum is typically mined deep underground, often as a by-product of nickel and copper processing. Global reserves are highly concentrated geographically, with South Africa holding the vast majority of the world’s known deposits.
Russia is another significant source, particularly from deposits in the Ural Mountains and the Norilsk region. Only a few hundred metric tons of platinum are produced globally each year, which is substantially less than the annual production of gold.
Essential Uses Across Industries
The unique properties of platinum have led to its adoption across a wide range of industries, with the automotive sector being the largest consumer. Platinum is a fundamental component in catalytic converters, where it mitigates harmful vehicle emissions. The metal’s surface speeds up the conversion of toxic exhaust gases, such as carbon monoxide and nitrogen oxides, into less damaging substances like carbon dioxide, nitrogen, and water vapor.
In the jewelry and investment market, platinum is prized for its aesthetic qualities and durability. Platinum jewelry is often composed of a high percentage of pure platinum, contributing to its density and enduring value as an investment metal.
Platinum plays a substantial role in the medical and industrial fields due to its biocompatibility and chemical stability. Certain platinum compounds, notably cisplatin, carboplatin, and oxaliplatin, are used as powerful chemotherapy drugs to treat various forms of cancer. The metal’s inertness makes it ideal for use in surgically implanted medical devices, including cardiac pacemakers, stents, and specialized electrodes.
Platinum is also indispensable in several industrial applications. Its high melting point and resistance to corrosion make it essential for laboratory equipment like crucibles and specialized electrodes.
The refining of petroleum relies on platinum as a catalyst to convert low-grade crude oil components into higher-quality fuels such as gasoline and diesel.
Furthermore, its excellent conductivity and stability are leveraged in electronics, particularly in electrical contacts and magnetic coatings for high-capacity computer hard drives.