Ruqayyah Snyder
Rhodium is a rare and valuable silvery-white metal that is used in many applications, from catalytic converters in cars to jewelry. While it is found in many different ores, it is usually located in platinum or nickel ores. The leading producer of rhodium is South Africa, which accounts for 80% of the global supply. Russia is also a key player in the rhodium market, with its Norilsk region contributing approximately 12% to the global supply. In Australia, rhodium has been found in Western Australia by mining companies such as Galileo Mining and Podium Minerals Limited.
| Characteristics | Values |
|---|---|
| Location | Western Australia |
| Discovery | Found in a re-sampling of assays from the Callisto discovery |
| Producers | ASX-listed Galileo Mining (ASX: GAL), Podium Minerals Limited (ASX: POD) |
| Value | The most expensive precious metal in the world |
| Impact | Shares of ASX-listed Galileo Mining soared more than 700% |
Explore related products
What You'll Learn
Western Australia's Norseman project
The Norseman Project in Western Australia is an exploration project by Galileo Mining (ASX:GAL) that has confirmed the presence of rhodium, a rare metal, at its Callisto discovery within the project area. The project is focused on the discovery of base metals in Western Australia, specifically nickel, copper, and cobalt.
Galileo Mining has reported the highest rhodium grades to date from drilling at the Callisto discovery, which is a palladium-platinum-gold-rhodium-copper-nickel prospect. The rhodium assays are increasing at depth within high-grade palladium-platinum seams, and significant intersections of rhodium has been recorded. The company believes that the extensive continuity of mineralisation intercepted indicates that there is more to be found.
The Norseman Project covers an area of 306km2 and is located near Kalgoorlie in Western Australia. The geology of the Callisto discovery within the project area is similar to that of the Platreef deposits in South Africa, which is encouraging for the regional prospectivity of the project. The Platreef deposits in South Africa are a significant source of platinum and palladium.
The planned work programs at the Norseman Project include assaying for rhodium and other platinum group metals, as well as drilling of known sulphide zones and prospective contact zones. The company is also working on target generation for nickel, copper, and cobalt within the project area.
Join Target Australia: Your Guide to Applying
You may want to see also
Explore related products
Caspin Resources' Yarawindah Brook project
The company has completed an airborne electromagnetic (AEM) survey, which has helped identify new conductor targets, such as the XC-29 anomaly along the 'Brassica Trend'. The AEM survey provides a direct detection method for nickel, copper, and PGE-bearing sulphides, allowing Caspin to explore ground previously unexplored for these commodities. Caspin has also completed a reconnaissance traverse of soil sampling along a road on the margin of the Yenart magnetic anomaly, which has returned elevated levels of palladium, platinum, and copper.
The Yarawindah Brook project has yielded significant mineralisation results, including high-grade rhodium mineralisation. Drill hole YARC0022 intersected a sulphide zone over 60m thick from immediately beneath the fresh rock interface, with two distinct mineralisation zones. The lower PGE zone includes iridium (Ir), osmium (Os), rhodium (Rh), and ruthenium (Ru). The company is continuing to develop geological models for Serradella and across the entire Yarabrook Intrusion, where mineralisation is now recognised to comprise Rh-rich lodes, Pd-Pt-dominant lodes, and Ni-Cu-dominant lodes.
The XC-46 Prospect, located approximately 5km west of the Yarabrook Hill Intrusion, has also shown potential for economic mineralisation. Broad zones of sulphide mineralisation have been confirmed to contain anomalous grades of nickel, copper, and PGEs. The company expects to delineate the various lode styles with close-spaced drilling in upcoming programs and continues to explore additional targets within the Yarawindah Brook project.
Wild Pigs in Australia: Their Habitat and Range
You may want to see also
Explore related products
Podium Minerals' Parks Reef PGM project
Podium Minerals (ASX:POD) is developing Australia's first PGM supply to deliver resources for a clean and alternate energy future. The Parks Reef Project is strategically positioned to meet the growing demand for critical metals that support the transition to a low-carbon, clean energy future. PGM catalysts are crucial to energy technologies, including automotive catalytic converters, hydrogen fuel cells, and green hydrogen manufacturing.
Located 80km west of Meekatharra in the mid-west region of Western Australia, Parks Reef is transitioning from exploration to development and hosts the only 5E PGM mineral resource in Australia of 143Mt @ 1.30g/t 5E PGM. The Parks Reef Project is well-positioned to deliver an Australian PGM supply and meet the growing global demand for critical metals. These metals will support the transition to a low-carbon clean energy future through feed hydrogen fuel cell technological developments.
The true width of Parks Reef averages around 20m in the Western and Central sectors and reduces to around 15m in the Eastern sector. It dips steeply to the south-east, providing a favourable geometry for both open-pit and underground mining. A deep drilling program of 3 holes spaced along the 15km strike length has intersected the reef at approximately 500m vertical below the surface, with mineralisation remaining open and consistent to that encountered near the surface. This shows the potential for a globally significant PGM operation.
The upper portion of the wehrlite is in contact with the gabbroic mafic volcanics, and it is the upper portion of the wehrlite that hosts the Parks Reef PGM mineralisation. The base metal and gold horizon then passes into and partially overlaps the upper portion of the Parks Reef PGM horizon, which exhibits elevated gold, copper, nickel, and cobalt grades.
Applying to Engineers Australia: A Step-by-Step Guide
You may want to see also
Explore related products
South Africa's Platreef deposits
South Africa is a significant source of rhodium. The Platreef project, located in the Limpopo province of South Africa, is a major platinum-group-metals (PGM) and base metals underground mine being developed by Ivanhoe Mines' subsidiary, Ivanplats. The Platreef deposit is located in the northern limb of South Africa's Bushveld Igneous Complex (BIC), which is believed to host approximately 75% of the world's platinum resources.
The Platreef deposit is characterized by its impressive size and unique geometry. It covers an area equivalent to lower Manhattan and has an average thickness of 24 meters, which is well within the range for modern mining techniques. The deposit is rich in platinum, palladium, rhodium, nickel, copper, and gold. As of July 2017, the Platreef mine was estimated to hold 125 million tonnes of probable ore reserves, with an average grade of 1.95 grams per tonne (g/t) of platinum, 2.01 g/t of palladium, 0.30 g/t of gold, 0.14 g/t of rhodium, 0.17% copper, and 0.34% nickel.
The Platreef project has attracted significant investment, with Ivanhoe Mines arranging project-level financing of nearly $420 million for its development. The project has also secured a 32-year agreement with the South African national power utility, Eskom, for the supply of treated water from the town of Mokopane's new Masodi treatment plant. Construction of the mine's access shafts began in 2014, with Shaft-1 reaching the top of the high-grade Flatreef Deposit at a depth of 780.2 meters below the surface in October 2018. Early construction works for Shaft-2 started in May 2017, and it is expected to be completed with a capacity of hoisting six million tonnes per year.
The Platreef project is anticipated to be the lowest-cost producer of PGMs in Africa. The South African Department of Mineral Resources granted mining rights for the project for an initial period of 30 years in May 2014. The project is expected to commence initial production of four million tonnes per annum (Mtpa) in 2022, with plans to ramp up to 8Mtpa in the second phase and 12Mtpa in the final phase. The phased development of the project is estimated to have an initial capital cost of $390 million, starting at a mining rate of 700,000 tonnes per year.
Returning to Australia: Application Process Simplified
You may want to see also
Explore related products
Russia's Norilsk region
Norilsk is a city in the Russian Arctic that has been labelled as one of the most polluted places on Earth. The city's pollution problem is largely attributed to the Norilsk Nickel complex, a nickel-refinery that emits significant amounts of sulfur dioxide and other pollutants into the environment. Norilsk is the largest producer of nickel and palladium in Russia, and it also accounts for a substantial portion of the country's platinum, rhodium, and cobalt production.
The region's pollution issues have had noticeable impacts on the surrounding environment and the health of its residents. Satellite images have revealed that the larch trees within a 40-mile radius of Norilsk have died due to high levels of sulfur dioxide pollution. Additionally, the reindeer patterns in the area have significantly changed, and research indicates elevated rates of lung cancer, cardiovascular disease, and infectious diseases among the population.
The city's pollution problem came into sharp focus in May 2020 when 6.5 million gallons of diesel fuel spilled from the Norilsk Nickel power plant into the Daldykan River. This incident prompted concerns about the environmental impact and raised questions about the company's commitment to addressing the pollution issues.
Despite the challenges, there have been recent initiatives to tackle the region's pollution crisis. Regional authorities have allocated funds for a thermal stabilisation program aimed at stabilising the foundations of apartment buildings affected by thawing permafrost due to rising Arctic temperatures. Additionally, the city has taken steps to improve its media presence with the launch of "Norilsk TV," its first 24-hour municipal channel.
Norilsk's status as a major industrial centre for non-ferrous metal production has contributed to its economic significance in Russia. The city's infrastructure supports the production of various metals, including electric power, hydropower, industrial construction, and building material production. The energy required for these operations is supplied by several combined cycle power plants located within the city and owned by Norilsk Nickel.
Aldi's Australian Adventure: A Timeline of Their Down Under Expansion
You may want to see also
Frequently asked questions
ASX-listed companies such as Galileo Mining and Podium Minerals Limited have found rhodium in Western Australia. In addition, there is a Zimbabwean subsidiary of Impala Platinum, Zimplats, which sells rhodium from its platinum and palladium operations.
South Africa is the leading producer of rhodium, accounting for 80% of the global supply. Russia is another key player, with the Norilsk region contributing about 12% to the global rhodium supply.
Rhodium is used in catalytic converters in cars and as a finish for jewelry, mirrors, and searchlights. It is also used in platinum-rhodium thermocouple wire, sheet, tube, foil, and wire.
