Top 5 Palladium and Platinum Producers by Country

Platinum-group metals (PGMs) include platinum, palladium, rhodium and other metals, all of which are prized for their durability, resistance to corrosion and excellent catalytic properties. However, just a handful of countries produce these precious metals.

The automotive industry is the world’s largest consumer of these metals, which among other things are used in catalytic converters for vehicle exhaust systems in cars with internal combustion engines (ICE). A rebound and continued growth in auto production is projected in the coming years, particularly in developing markets, and this should increase demand for PGMs, especially when it comes to platinum and palladium.

On the supply side, the platinum market remained at a significant deficit in 2025, with a shortfall of 692,000 ounces, and is expected to stay at a deficit through 2026. These fundamentals, alongside a run in precious metals, led platinum prices to an all-time high of US$2,913.36 per ounce on January 26, 2026.

When it comes to palladium, the market is even more dependent on the automotive sector. Although 2025 recorded a 415,000 ounce supply deficit, analysts at UBS suggest that this could turn around to oversupply due to sales growth in the EV sector. Palladium prices reached an all-time high of US$3,221 per ounce on March 8, 2022.

Prices for the metal have declined in recent years on waning demand from the auto sector, and have been trading in the US$1,300 to US$2,000 range in 2026.

But where do platinum and palladium come from? The list of the world’s top palladium- and platinum-mining countries is a short one, and most PGMs come from South Africa and Russia. Russia’s ongoing war in Ukraine and electricity shortages in South Africa are expected to seriously hamper the ability of these nations to bring PGMs to market.

We dive into the miners, markets and regulations affecting the top platinum and palladium countries below, and you can also learn more about the companies mining them in our guides on how to invest in platinum and palladium here.

So what other countries are platinum and palladium producers, and which countries hold the most platinum and palladium reserves? Below is a list of the five top producers in 2025, as per the latest data from the US Geological Survey.