The latest report titled “Platinum Production” 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. Platinum is extracted from ore by breaking and crushing it, then mixing it with water and chemicals to bind with the platinum in a process called froth floatation. The resulting liquid mixture is mixed with air bubbles to bring the platinum to the surface, which is then removed and dried to create a concentrated powder. The powder is heated to remove impurities and base metals before being treated with aqua regia and filtered to obtain pure platinum.
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Product Definition:
Platinum is a valuable metal with a soft, silver-white appearance. It boasts a high melting point and excellent resistance to corrosion and chemical damage. When heated, its surface remains bright and unblemished. Although it dissolves in aqua regia, simple acids have little effect on it, except for a slow reaction with hydrochloric acid in the presence of air. To strengthen platinum, small amounts of iridium are often added to create a more durable alloy while still maintaining the benefits of pure platinum. In the chemical laboratory, platinum and its alloys are essential for creating electrodes, crucibles, and dishes that can withstand high temperatures.
Market Drivers:
Platinum, which is one of the most abundant platinum metals, is essential in many industries. It is commonly used in laboratories as electrodes and crucibles for heating materials to high temperatures. Due to its ability to resist high temperatures and chemical attacks from electric arcs, platinum is also used for electrical contacts and sparking points. Additionally, it is a popular choice for jewelry and dental alloys, while platinum-iridium is utilized for surgical pins. Platinum also has many applications as a catalyst, particularly in automotive catalytic converters and petroleum refining. Given its numerous uses, platinum is in high demand across various sectors, which is driving its market growth.
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