One of the most well known of the Platinum group of metals, Platinum became popular in Jewelry use, but in recent years most of it has gone for use in the Automotive industry, in Catalyst converters.
First described by the Italian scholar Julius Caesar Scaliger in 1557, platinum (XPT) is one of the rarest and most expensive commodities in the world. In terms of availability, it is more scarce than both gold and silver. Only 130 tonnes of platinum are mined annually, as compared to 1,700 tonnes of gold, and the cost for mining per ounce of platinum is double that of gold.
Platinum’s metallic properties lend it to a variety of commercial and industrial uses. Part of its usefulness comes from its resistance to high temperatures and it does not oxidize from air exposure, making it extremely durable. It’s also an excellent conductor of heat, and does not corrode or react with chemicals.