Platinum and Its Uses
Platinum and Its Uses
Platinum has made its way into American culture that the use of it in jewelry has increased significantly over the past decade. If you have jewelry prices recently, you know how white noble metal is more expensive than gold. So what is platinum and for how long has it been around?
Platinum is a member of the family of "platinum" with ruthenium, rhodium, palladium, osmium and iridium. In 700 BC, the priestess Shepenupet was buried in a sarcophagus decorated with gold and platinum hieroglyphics. Platinum is also found in South America, dating from 100 BC, the Incas created ceremonial jewelry of gold and platinum. Here is North American Palladium.
In 1751, Theophil Scheffer, a Swedish scientist, recognized their unique properties and the shortage and said precious metal.
The metal began to gain popularity for industrial use because of its strength and was chemically inert. Soon the metal is used in gun parts, advanced batteries and fuel cells, brain surgery and braces, especially as a catalyst for cars, conversion of emissions into carbon dioxide and water.
Due to the metal's ability to help the environment with emissions in catalytic converters, it soon became known as the "lead from the environment." And with growing concerns about environment and emissions, the demand for the metal continues to grow.
While there have been many uses for platinum mining the amount needed to meet demand has been difficult. Statistics indicate that between 5 and 6 million ounces of platinum reaching the new world market each year, which is less than 5% of gold production. Many of platinum obtained from South Africa and Russia.