Metal of global demand: Russia has increased its reserves of platinoids
The mineral resource base of platinum group metals in Russia has significantly expanded by the end of 2025: the total increase in reserves exceeded 46 tons. The largest contribution to this result was provided by the Krasnoyarsk Territory, where the increase amounted to almost 26.7 tons. Significant replenishment was also recorded in the Chelyabinsk region — more than 19.4 tons, Rosnedra reported. Izvestia investigated which sectors of the economy use these metals, and how the increase in their reserves affects Russia's export potential and position on the world market.
A necessary component
Platinum group metals (PGMs) are primarily used in industry, where they are used to produce products for technical and technological purposes, Artem Kiryanov, deputy chairman of the State Duma Committee on Economic Policy, told Izvestia. Platinum and palladium are minimally represented in the jewelry segment: such jewelry is practically not in demand, and buyers often choose the usual options — gold or silver.
"Even with the high quality of execution and attractive design, the value of platinoids for the mass consumer remains unclear," the deputy noted.
According to him, the complexity of processing also plays a significant role. The melting points of these metals are significantly higher than those of gold and silver, which requires special equipment and more energy-intensive technologies. For this reason, jewelers work with platinum and palladium less often and less willingly, despite the existence of special samples for such products. At the same time, platinoids remain in high demand in industrial production.
— They are used to make laboratory glassware, die feeders for the glass industry, through which the melt is passed during the production of mineral wool, as well as large catalyst grids for chemical and petrochemical processes. The range of applications is wide and covers areas where resistance to high temperatures and aggressive environments is important," the parliamentarian explained.
Considering that Russia is one of the leaders in the extraction and processing of platinum group metals and has accumulated reserves, the production of industrial and technical products from platinoids continues in significant volumes.
Palladium and platinum predominate in the structure of Russian PGM production, Pavel Pavlov, a leading researcher at the IPEI Foreign Trade Research Laboratory at the Presidential Academy, told Izvestia. The total balance reserves of platinum group metals in Russia are estimated at about 16 thousand tons. According to this indicator, the country ranks second in the world, second only to the Republic of South Africa.
According to the so—called mirror customs statistics of the United States, in recent years, the main buyers of these metals have been China, Japan, Italy and Germany, countries with a developed automotive sector.
Both metals have pronounced catalytic properties, which makes the automotive industry their main consumer. Palladium is used primarily in catalytic converters for gasoline engines, while platinum is used in exhaust gas purification systems for diesel vehicles.
"In addition, palladium is considered as a promising material for hydrogen energy," the expert noted. — Its ability to absorb and retain hydrogen in volumes many times its own mass allows the metal to be used in the development of new types of fuel cells.
Palladium and platinum are also in demand in the electronics industry — in the manufacture of microchips, hard drives and other high-tech components.
Price guide
Today, there is no longer the strict relationship between domestic and global PGM prices that existed five years ago, Andrei Zhukovsky, a leading researcher at the Institute of Regional Economics and Inter-Budgetary Relations at the Financial University under the Government of the Russian Federation, told Izvestia. In the current conditions, it is more logical to shift the focus from exporting raw materials to expanding the supply of finished products with high added value, in which these metals are already used.
— We are talking about the civil aircraft industry, from light aircraft to medium—range and special vehicles, river and marine shipbuilding, automotive, microelectronics, as well as machine tool construction for industry and metallurgy. In all these segments, MPGs are an important technological component," the expert explained.
On the contrary, it is advisable to regulate and control the export of platinoids themselves more strictly, while at the same time creating incentives for processing these raw materials within the country, he is sure. This makes it possible not only to reduce dependence on foreign markets, but also to strengthen the position of the domestic industry by producing competitive end products.
Dmitry Zamyshlyaev, Deputy head of the Federal Assay Chamber, confirmed in an interview with Izvestia that the automotive industry remains the key consumer of platinum and platinum group metals today.
— Russia is traditionally one of the major producers of platinum group metals, — the expert reminded. — Despite the fact that the specific volumes of extraction and production are not disclosed, a significant part of the platinoids are exported.
According to him, this is due both to the high quality of Russian products and to the fact that the domestic market does not consume the entire volume of production. At the same time, Russian suppliers are in steady demand in the global market of platinum group metals, and their products traditionally occupy a prominent place in international trade.
The price of platinum group metals is formed under the influence of several main factors, Dmitry Zamyshlyaev added. First of all, it is the supply and demand in the market, as well as the state of key industries where these metals are used.
The cost is also affected by the situation of large producers: the closure or launch of mines, a decrease or an increase in capacity, the Izvestia interlocutor added. For example, the temporary shutdown of production in South African countries led to changes in world prices due to a reduction in supply.
At the same time, Russia occupies a leading position in the extraction and production of MPG, since a complete chain has been built inside the country — from the extraction of raw materials to the production of industrial products, the specialist concluded.
Izvestia sent a request to Rosnedra, but no response had been received at the time of publication.
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