Platinum: Stocks
Two centuries in the ground; above-ground stocks matter more
What this tab covers How much is left and how much is held. For minerals and energy: reserves, current output, years of supply and recycling for the top five countries. For farm commodities: production, ending stocks and stocks-to-use for the top five producers (USDA, October 2026). It also covers inventories and stockpiles.Top five countries: reserves, output and years of supply
| Country | Reserves t PGM content (all six metals) | Current output t platinum + palladium (mine, 2025e) | Years of supply | Recycling |
|---|---|---|---|---|
| South Africa | 63,000 | 190 | 332 | n/a |
| Russia | 11,000 | 104 | 106 | n/a |
| Zimbabwe | 1,300 | 33 | 39 | n/a |
| Canada | 310 | 21 | 15 | n/a |
| United States | 590 | 8 | 74 | n/a |
Recycling
USGS reports PGM reserves only as a group, so years = PGM reserves / (Pt + Pd output) and slightly overstate life. World reserves exceed 76,000 t. About 140 t of platinum and palladium were recovered from scrap worldwide in 2025, including 8.6 t of platinum from US autocatalysts (USGS MCS 2026). The EU end-of-life recycling input rate for platinum is 12% (EU CRM 2023). No India recycling figure was found.
USGS puts reserves of all PGMs at more than 76 million kg, 63 million of them in South Africa, and resources above 100 million kg. That is roughly two centuries of 2025 platinum-plus-palladium mine output, so geology is not the constraint. Above-ground stocks matter more: investors hold bars and funds, and the US stockpile planned to sell 261 kg of platinum in fiscal 2025. Recycling is substantial. About 140,000 kg of palladium and platinum were recovered globally from scrap in 2025, and the EU's end-of-life recycling input rate is 12%.
Reserves
World reserves 76,000,000 kilograms, all PGMs combined (USGS: >76,000,000) South Africa 83% Russia 14% Zimbabwe 2% United States 1% Canada 0% Largest reserve holders, share of world reserves (USGS MCS 2026). Reserves are what is economic to extract today, not what exists.Recycling
End-of-life recycling input rate in the EU: 12% of demand met from post-consumer scrap (EU CRM study 2023).About 140,000 kg of palladium and platinum were recovered globally from scrap in 2025, including about 8,600 kg of platinum from US autocatalysts.