Platinum mine in S. Africa

[tinstar]

I was watching a show on Nat. Geo. and they were talking about a couple of mining rigs that are HUGE!

They also talked a little about the mine itself. The usual blah, blah.

The one fact they mentioned was amazing.

For every 9,000 TONS of rock, they get 1 OUNCE of Platinum!!!

No wonder it cost so much!

[JUSTROLEXES]

Humm are you sure???

[tinstar]

That's what the narrator on the program said.

He also said because of that, Platinum is the most expensive metal on the planet.

His words.......not mine.

.........and yes, my hearing is fine.

[ParisDakarBmw]

Check KITCO out for precious metal rates, and historical charts. Platinum, and Rhodium are used in Jewelry, and Catalitic converters. Many governments, like Russia, ration the sale of these metals, while stockpiling. As the slowed economy set in the governments choked down on the export. This and other commodities react directly with the currency. As the dollar goes down in value, it takes more dollars to purchase the same ounce of metal.

Rhodium was worth almost $10,000 an ounce 2 years ago after a steady climb. It dropped off the cliff when the market slowed. This hit bottom at about $1,100 an ounce. It currently sits at about $2,350 an ounce. As the econemy picks up, look for the upward trend again. My dad has a lump of Rhodium purchased at $1,350 an ounce. Good thing to look at for a 5 year investment***.

The tons of dirt are actually not that much. The soil contains large deposits of heavy metal base. After about 2 pickup truck loads worth, It's put in a giant drum that seperates everything by weight. The heavy stuff is removed and then refined.

On kitco you can see what mining companies report for new mine shaft test. Some are high per ton, others are high in silver. If you want to see something rare check out Tanzanite. There is only one mine in the world in Tanzania. 4 mine shafts were drilled. 2 flooded, the third is almost empty, and the fourth is pumping out the nicest stones. Those are called "block D". Now that crap is expensive!

[WatchTimes]

Yup that sounds about right from what I have heard....

All the more reason to lust after a Platinum DD with the Ice
Blue Dial and Romans

The sexiest Plat DD in my mind hands down!

[dalip]

or appreciate this beauty even more...Rolex stuffed her with platinum!!

[Renoir]

This too (not stuffed, but milled):

[snowbird]

It's a very involved process at gold mines today too to separate the gold from the rock it's buried in, most of the gold just laying around in nuggets has already been found . . .