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The latest report titled “Platinum Production Cost” by Procurement Resource, a global procurement research and consulting firm, provides an in-depth cost analysis of the production process of Platinum.
Procurement Resource study is based on the latest prices and other economic data available. It also offers additional analysis of the report with detailed breakdown of all cost components (capital investment details, production cost details, economics for another plant location, dynamic cost model). In addition, the report incorporates the production process with detailed process and material flow, capital investment, operating costs along with financial expenses and depreciation charges.
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Procurement Resource’s detailed report describes the stepwise consumption of material and utilities along with a detailed process flow diagram. Furthermore, the study assesses the latest developments within the industry that might influence Platinum production cost, looking into capacity expansions, plant turnarounds, mergers, acquisitions, and investments.
Procurement Resource Assessment of Platinum Production Process:
1. Platinum Production Cost Via Extraction, Concentration, and Refining: This report presents the detailed production methodology and cost analysis of Platinum industrial production across Platinum manufacturing plants. The first step in this process is the breaking and crushing of the ore which is followed by froth flotation. After that, air bubbles are added into the liquid mixture. This raises the platinum metal on the surface which is taken off and dried into a powder. The impurities are then further removed by heating it, and iron and sulphur are then removed from this matte by blowing air into it. The final stage involves removing base metals like copper and nickel, treating the concentrate with aqua regia, and then filtering, purifying, and burning the ore to produce pure platinum.
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Product Definition:
Platinum is a highly precious and rare white-silvery metal. It belongs to the platinum family of metals and is recognised for possessing special properties. Due to its remarkable resistance to oxidation, tarnish, and corrosion, platinum is a durable substance.
It has a high melting point, outstanding catalytic properties, and excellent electrical conductivity. Due to its malleability and ductility, platinum may be easily moulded and fashioned into a variety of items and components.
It is one among the densest metals and has a very high density, which contributes to its substantial weight. Platinum is coveted for its beauty, rarity, and versatility in addition to its numerous uses in jewellery, electrical connections, catalytic converters, and other industrial processes.
Market Drivers:
Platinum is a pricey and rare metal that is used in a variety of industrial operations because of its unique properties. Platinum is frequently used in catalytic converters for vehicles to lower hazardous emissions. As a catalyst, it transforms dangerous gases like carbon monoxide, nitrogen oxides, and hydrocarbons into less hazardous ones.
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Second, platinum plays a crucial role in the chemical industry as a catalyst for numerous chemical reactions. It is used to create a range of organic compounds, fertilisers, and pharmaceuticals. Platinum is utilised in the electronics industry, specifically in the creation of hard drives, LCD panels, and electrical connections. Due to its excellent electrical conductivity, high melting point, and resistance to corrosion, it is the ideal material for a variety of applications.
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Procurement Resource ensures that our clients remain at the vanguard of their industries by providing actionable procurement intelligence with the help of our expert analysts, researchers, and domain experts. Our team of highly seasoned analysts undertakes extensive research to provide our customers with the latest and up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which aid in simplifying the procurement process for our clientele.
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