In the United States there does not seem to be hope for a considerable increase in the output of platinum; in fact, it may be that the production will be materially less when the new refineries for the treatment of Sudbury ores are completed in Canada. The placer deposits carrying platinum are for the most part relatively small; many of those in northern California and Oregon can not be worked economically and few are available for dredging. As the gold-dredging field along the base of the Sierras becomes exhausted, the output of platinum in this country will decline in proportion, barring the discovery of new ground and deposits of gravel richer in platinum than those now known.
The various Australian platinum deposits do not seem particularly promising, as regards production, with the possible exception of the Bald Hill dredging field, in Tasmania. The Fifield deposits seem to be nearly exhausted and the beach deposits in New South Wales and Queensland are too low grade and the valuable minerals are too erratic in distribution to appear of much commercial interest.
The Spanish deposits have not yet been sufficiently explored to determine their extent, but published reports do not seem to indicate that they will prove very large or particularly rich.
POLITICAL CONTROL
As [Table 74] shows, Russia has political control of approximately 90 per cent. of the world’s supply of platinum. It seems probable that Canada, in the nickel ore of the Sudbury district and in the known placers in the Tulameen and Barkersville districts, has control of the third largest reserve of platinum. The deposits under the political control of the United States in Alaska and on the Pacific Coast are relatively insignificant. Great Britain naturally controls the platinum in her colonial possessions, Australia, Tasmania, and India. The output of the Dutch East Indies, from Borneo and Sumatra, is relatively small, although there is a possibility that the production from these countries may be increased. Spain may, perhaps, control a small output of platinum, though it does not seem probable that the production from this country will ever be large. A large area in the Sierra Ronda Mountains has been set aside by the government for further prospecting under the auspices of the government, and it seems reasonable to believe, judging from the general mineral policy of Spain, that in the event of the proving of commercial deposits they will be worked under government auspices rather than by private persons.
Although the deposits in Colombia are politically controlled by that country, they are, nevertheless, owned largely by American interests.
COMMERCIAL CONTROL
Through Ownership of Mines.
—Prior to the war, French commercial interests practically dominated the platinum industry of Russia, through the operations of the Compagnie Internationale du Platine. This company not only had extensive mining holdings but also had contracts with the two largest independent Russian platinum producers, namely, the Shouvaloff and Demidoff companies, for their entire output. The contracts were suspended by the French company shortly after the declaration of war and may not be remade. There are, however, two Russian companies which are more or less independent of French control and there are a large number of small miners and peasants who know no allegiance to any particular buying concern. It appears that at least 75 per cent. of the platinum production of Russia is (or was, previous to the Bolshevist domination) controlled by the following companies: Compagnie Internationale du Platine (French), Shouvaloff’s company (Russian), Demidoff company (Russian), Nicolo-Pavdinski company (Russian), and the Platina company (Russian). During 1914 these companies were operating approximately 35 dredges in the platinum field, though from the best reports now available it does not seem that more than two or three of the dredges were at work during 1917. The reader should realize, however, that the production from dredges has always been relatively small, as compared with the output made by other methods. It is estimated that about 80 per cent. of the platinum won from the Russian placers is recovered by hand labor by lessees (starateli) who contract to dispose of their production to the companies owning the ground and pay a royalty for the privilege of working. Since the war the peasants and miners are virtually in control of all the mines and the original operators have little to do with operation or management.
The most important platinum-bearing placers in Colombia are controlled by American financial interests. The General Development Co., of New York, through two subsidiary companies, controls a large area in the headwater region of the San Juan River, particularly on the Condoto River. Recently these interests have organized the South American Gold & Platinum Co. The Quito Mining Co. controls a considerable acreage on the Quito River between Quibdo and Istimina. There are other small American holdings in the vicinity of Negua, on the Atrato drainage, and on the Tamana and Sipi, on the San Juan drainage. Late in 1917 a British company was organized for the development of extensive holdings on the Opogodo River, in the upper San Juan drainage. If the present conditions are not changed by special legislation in Colombia it would seem that American financial interests will continue to dominate the Colombia platinum field.