South Africa mines more platinum than the rest of the world combined, producing 120,000 kilograms (about 3,858,000 troy ounces) of the 170,000-kilogram 2025 world total, according to the US Geological Survey's Mineral Commodity Summaries 2026 (USGS MCS 2026). Which country ranks second, and how does each producer's output compare with its reserves? This page ranks the six producing countries by 2025 mine production, PGM reserves, mining companies and price.
Which Countries Produce Platinum?#
Six countries account for nearly all platinum and palladium mine production: South Africa, Russia, Zimbabwe, Canada, the United States and a small "other" group, according to USGS Mineral Commodity Summaries 2026. Country-level output feeds directly into the wider platinum group metals market, where mine supply, recycling and demand together set the annual balance.
Mining method differs by geology as much as by country: South Africa works both open-pit and narrow-reef underground methods on the Bushveld Complex, while Zimbabwe's shallower Great Dyke and Canada's Sudbury Basin ores use different methods again. The full range of platinum mining methods, from open pits to deep underground stopes, is covered separately.
Platinum Production by Country, 2025#
South Africa produced 120,000 kg of platinum in 2025, an estimated 71% of the 170,000 kg world total, on the mine-production basis (USGS MCS 2026). Russia, Zimbabwe, Canada and the United States mine the rest, in the amounts shown below.
| Country | Platinum production, 2025e (kg) | Platinum production, 2025e (koz) |
|---|---|---|
| South Africa | 120,000 | 3,858 |
| Russia | 20,000 | 643 |
| Zimbabwe | 18,000 | 579 |
| Canada | 5,000 | 161 |
| United States | 1,800 | 58 |
| Other countries | 3,900 | 125 |
| World total | 170,000 | 5,466 |
USGS Mineral Commodity Summaries 2026; 2025 figures are USGS estimates, rounded.
One kilogram equals exactly 32.1507 troy ounces, so South Africa's 120,000 kg converts to roughly 3.86 million troy ounces, matching Johnson Matthey's own estimate of "around 3.86 million oz" of underlying South African platinum mine production in 2025 (PGM Market Report, May 2026). South Africa's platinum supply also includes recycled metal, which USGS mine-production figures exclude entirely.
Palladium Production by Country, 2025#
Russia produced more palladium than any other country in 2025, at 84,000 kg, ahead of South Africa's 70,000 kg (USGS MCS 2026). Palladium's country ranking inverts platinum's: Russia leads, South Africa is a strong second, and the same four other producers fill out the world total of 190,000 kg.
| Country | Palladium production, 2025e (kg) | Palladium production, 2025e (koz) |
|---|---|---|
| Russia | 84,000 | 2,701 |
| South Africa | 70,000 | 2,251 |
| Canada | 16,000 | 514 |
| Zimbabwe | 15,000 | 482 |
| United States | 6,200 | 199 |
| Other countries | 2,900 | 93 |
| World total | 190,000 | 6,109 |
USGS Mineral Commodity Summaries 2026; 2025 figures are USGS estimates, rounded.
Palladium's world total of 190,000 kg (about 6.11 million troy ounces) runs 12% ahead of platinum's 170,000 kg, because Russia's palladium-rich Norilsk-Talnakh ores and Canada's palladium-dominant Sudbury and Lac des Îles deposits both weight toward palladium over platinum.
PGM Reserves by Country vs Mine Production#
South Africa holds an estimated 63,000,000 kg of PGM reserves, 83% of the world total of more than 76,000,000 kg (USGS MCS 2026). Reserves cover all six platinum group metals together, not platinum alone, so the table below sets each country's total PGM reserves against its platinum-only 2025 mine production.
| Country | Platinum production, 2025e (kg) | PGM reserves (kg) | Reserves-to-production ratio (years, derived) |
|---|---|---|---|
| South Africa | 120,000 | 63,000,000 | 525 |
| Russia | 20,000 | 11,000,000¹ | 550 |
| Zimbabwe | 18,000 | 1,300,000 | 72 |
| United States | 1,800 | 590,000 | 328 |
| Canada | 5,000 | 310,000 | 62 |
| World | 170,000 | >76,000,000 | >447 |
USGS Mineral Commodity Summaries 2026. ¹ Russia's reserves are reported on the A+B+C1 categories of the Russian (GKZ) classification system, a different basis from the reserves reporting used for the other four countries, so its figure is not directly comparable.
That ratio is a DailyPlatinum calculation, not a published USGS, WPIC or Johnson Matthey figure: all-metal reserves divided by platinum-only production, not a life-of-mine estimate for any single mine. South Africa's 525 years and Russia's 550 years both dwarf Zimbabwe's 72 and Canada's 62.
Southern Africa holds over 80% of world PGM resources, with the largest concentration in the Bushveld Complex (Sibanye-Stillwater Rustenburg Technical Report Summary, 2025; USGS MCS 2026). Resources are the broader category that includes reserves plus material not yet proven economic to mine, and world PGM resources exceed 100,000,000 kg on that wider basis (USGS MCS 2026).
Where Does the US Get Its Platinum From?#
The United States imports 89% of the platinum it consumes, mostly from South Africa, which supplied 49% of US platinum imports from 2021 to 2024 (USGS MCS 2026). Palladium import reliance sits lower, at 57% over the same period, because US and Canadian mines cover more of US palladium demand.
| Source country | Share of US platinum imports, 2021-24 |
|---|---|
| South Africa | 49% |
| Belgium | 10% |
| Germany | 10% |
| Italy | 8% |
| Other | 23% |
USGS Mineral Commodity Summaries 2026.
Belgium and Germany each supply a tenth of US platinum imports despite mining none of it themselves, because both countries host major PGM refining and fabrication hubs that re-export refined metal rather than mined metal.
South Africa: The World's Leading Platinum Producer#
South Africa supplied 71% of the world's primary platinum in 2025 (3,957 of 5,557 koz), against 34% of palladium (2,246 of 6,589 koz) and 81% of rhodium (566 of 701 koz), on Johnson Matthey's PGM Market Report (May 2026) basis. Those three shares are never blended into one PGM-wide number: South Africa dominates platinum and rhodium supply but only about a third of world palladium, which Russia leads.
Nearly all of it comes from the Bushveld Complex, where platinum mining in South Africa is worked by these companies:
- Valterra Platinum: Northern Limb's Platreef and other Bushveld operations.
- Impala Platinum: Western Limb, around Rustenburg.
- Sibanye-Stillwater: Rustenburg and Marikana.
- Northam Platinum: Zondereinde, Booysendal and Eland.
South Africa's PGM output fell an estimated 9% in 2025, on declining palladium prices, higher deep-level mining costs and electricity supply disruption (USGS MCS 2026).
Russia: The Second-Largest Platinum Producer#
Russia is the world's second-largest platinum producer and the largest palladium producer, mining 20,000 kg of platinum and 84,000 kg of palladium in 2025 (USGS MCS 2026). Its production comes overwhelmingly from the Norilsk-Talnakh nickel-copper-PGM sulphide deposits in the Russian Arctic, mined by Nornickel.
Russian PGM output fell an estimated 6% in 2025, on lower ore grades and metal recovery, geopolitical and investor uncertainty, and new mining equipment introduced at one operation (USGS MCS 2026). Platinum mining in Russia covers Norilsk's operations, costs and sanctions exposure in full.
Zimbabwe, Canada and the United States: The Other Producing Countries#
Zimbabwe, Canada and the United States together mined 24,800 kg of platinum in 2025, against South Africa's 120,000 kg and Russia's 20,000 kg (USGS MCS 2026). Each of the three draws on a distinct ore body, listed below.
- Zimbabwe: the Great Dyke, mined by Zimplats and other operators; see platinum mining in Zimbabwe.
- Canada: the Sudbury Basin's nickel-copper ores and the palladium-dominant Lac des Îles deposit.
- United States: the palladium-dominant J-M Reef in Montana, mined by Sibanye-Stillwater.
US mine employment for PGMs fell to an estimated 810 workers in 2025, from 901 in 2024, as combined US platinum-plus-palladium output fell 40% (USGS MCS 2026). PGM mining in North America covers both countries' operations and costs in full.
Platinum Producers, Prices and Markets by Country#
Platinum-producing countries connect to the companies that mine there, the price of the metal they produce, and the wider PGM market.
Platinum Mining Companies by Country#
Among the largest platinum producers, Valterra Platinum, Impala Platinum, Sibanye-Stillwater and Northam Platinum mine on South Africa's Bushveld Complex, while Nornickel mines in Russia and Zimplats in Zimbabwe. Each producer's output, mines and reserves have a dedicated page: Valterra Platinum, Impala Platinum, Sibanye-Stillwater, Nornickel and Zimplats.
Platinum Price by Country#
Platinum prices in 19 national currencies have country pages with local units and taxes. The platinum price in India today page, for example, adds India's IBJA benchmark and import duty to the converted spot rate.
Platinum Group Metals Market Overview#
Country-level production feeds into the wider platinum group metals market: supply, demand, deficit and outlook. The full platinum group metals market page sets mine supply, recycling and the demand sectors side by side.
How Rare Is Platinum on Earth?#
Platinum's rarity comes from the same geology that concentrates its reserves in South Africa's Bushveld Complex. Southern Africa's Bushveld Complex holds over 80% of world PGM resources in one intrusion, so platinum's global supply depends on a single geological accident of concentration rather than on widespread deposits; how rare is platinum covers that comparison against gold and other metals in full.
Platinum Producing Countries FAQ#
What country makes the most platinum?#
South Africa makes the most platinum of any country, mining 120,000 kg in 2025, an estimated 71% of world primary supply (USGS MCS 2026; Johnson Matthey PGM Market Report, May 2026).
Where does the US get platinum from?#
The United States imports 89% of the platinum it uses, and South Africa supplied 49% of those imports from 2021 to 2024 (USGS MCS 2026). Belgium and Germany each supply another 10%, mostly refined rather than mined metal.
Is platinum actually rarer than gold?#
Platinum's rarity relative to gold is answered on the site's dedicated comparison page. See how rare is platinum for the full comparison.
How much platinum is left on Earth?#
World PGM resources exceed 100,000,000 kg, most of it in South Africa's Bushveld Complex (USGS MCS 2026). Platinum itself carries the symbol Pt, atomic number 78 and CAS number 7440-06-4, and its element data are covered in full on platinum (Pt), element 78.