POSITION OF THE WORLD AS REGARDS PLATINUM
As explained above, owing to the location of the chief platinum-producing regions, Russia has been the source of practically all of the world’s platinum, though commercially the French controlled the marketing of the bulk of the Russian output. Since 1914 practically no platinum has been exported and what little did get out came mostly to the United States. The situation of the various countries can be summarized as follows:
Russia normally used little of her own platinum, exporting it to England, Germany, and France. The country had almost no platinum-refining capacity, the industry being controlled by French and Russian capital with more or less German influence. Since the war the platinum mines have not been extensively worked and in fact their production has decreased greatly. Any accumulated stocks of platinum that may have been in Russia probably found their way into Germany and into Allied lands.
Before the war Germany refined about 25 per cent. of the Russian production of platinum; she has no deposits within her own territory. She had built up great chemical and electrical industries, which required large stocks of platinum, and probably was in a fair position with regard to the metal when war was declared. It seems probable that there is a shortage of platinum in Germany at present, for any great expansion of either chemical or electrical industries.
France through her control of the bulk of the Russian output was in position to have accumulated considerable stocks of platinum, and that she did so is indicated by the fact that the government did not undertake any regulation of the platinum industry until early in 1918, and it does not appear that any great expansion of the chief industries requiring platinum was necessitated.
About 70 per cent. of the Russian, probably half of the Colombian, and all of the Australian and Indian platinum was sold in England prior to the war. It is believed that not all of this was refined in England, for considerable amounts of crude platinum were exported from England to the United States; however, large stocks of the platinum metals were on hand in England when war was declared. England had to build a great chemical industry during the war, and quickly used what reserves she had, so that the government early in the war saw the necessity of controlling the use of platinum metals.
The United States has been and will continue to be dependent on foreign platinum. At present all of the Colombian platinum is coming to this country. When we entered the war the stocks of platinum in the United States were about 50 per cent. of the normal, and as we had to build large chemical and electrical industries, those stocks were rapidly exhausted.
Colombia has no platinum refineries; apparently she has use for none of the output of her mines. Before the war her crude platinum was shipped to England and the United States for refining, but at present it is all coming to the United States.
SUMMARY
About 90 per cent. of the crude platinum produced annually has come from the Ural Mountains, Russia. The deposits of next importance are situated in Colombia, South America. Small amounts are produced in Canada (chiefly as a by-product in the refining of nickel ore), in New South Wales, Tasmania, the United States, Dutch East Indies, India and Spain.