5 Largest Platinum Producing Countries in the World

2. Russia 

Average Annual Platinum Production: 20,000 kilograms

Two major companies in Russia are very important in the country’s platinum market: Russian Platinum Plc and Norilsk Nickel. In the first half of 2023, Nornickel reported the production of 10,404 kilograms of platinum and 42,000 kilograms of palladium. This production increase was primarily due to the discovery of higher quantities of these metals in the materials processed at their Norilsk division. Additionally, improvements in efficiency at the Kola division contributed to their increased output. With Russia’s platinum group metal reserves totaling 6,062 tons, the country is well-positioned to maintain its leading position in platinum production in the future.