Platinum Group Metals (PGMs)The six platinum group metals (PGMs) occur together in nature alongside nickel and copper. Mineable deposits of PGMs are very rare, with annual production amounting to around 400 tonnes, several orders of magnitude lower than many common metals. Due to their economic values and higher quantities, platinum and palladium are the most important metals of the PGMs. The other four, rhodium, ruthenium, iridium and osmium, are mined as by-products of platinum and palladium. It is a capital and labour intensive industry. Companies are investing heavily in exploration and production facilities to ensure the future supply of these vital metals.Primary and secondary production of PGMs are complementary and mutually dependent: Secondary production enables growing demand for PGMs to be met without excessively increasing primary production. The PGM industry itself repeatedly recycles PGMs from their applications with recovery efficiencies of up to 95%. It collaborates with other stakeholders to increase recycling rates.