POTENTIAL RESOURCES OF PGM DEPOSITS IN THE CONTEXT OF RUSSIAN NATIONAL STRATEGIC INTERESTS

Abstract

The world reserves of platinum-group metals (PGM) are more than 100 000 t. They form the basis for a highly dynamic sector of the world economy, with demand continuously increasing by about 10% per year and metal prices consistently (growing). Sales of platinum-group metals reached >430 t in 2001 and >340 t over nine months of 2002. The bulk of the PGM supply (almost 90%) is provided by production and reserves in the Republic of South Africa and in Russia. It is believed that this situation will persist until the middle of the 21st century. The South African reserves seem to be more reliable. World analysts predict that South Africa can double platinum and palladium production by 2006. This paper analyzes modern tendencies in the development of the world platinum industry. The most important of them is the increasing monopolization of reserves and production by several multinational corporations. The main goals of Russia are to hold its lasting high significance in the world market and create conditions for activation of domestic consumption of platinum-group metals by increasing the share of platinum-bearing goods in the gross national product. The national PGM mineral resources are generally concentrated in the deposits of the Norilsk ore district. However, because of some qualitative features of these deposits and a certain technological conventionalism, Russian PGM production is closely related to nickel and copper production. Thus, any problems in the world market for base metals leading to a decrease in demand or prices can cause a corresponding decrease in domestic production of platinum-group metals. The nature of the platinum-bearing mineralization in the Norilsk deposits, i.e., the existence of two natural types of ores (Cu-Ni sulfide ores with associated PGM and platinum ores with associated base metals), facilitates the maximum separation of PGM production from base-metal production. This is a top-priority national objective. Specific technological schemes should be used in processing of ores of each type. Some other PGM mineral sources are also considered in this paper. For example, PGM mineralization in the Sukhoi Log shale-hosted deposit could be of economic significance in the future.