Russia Owns About 44% of the World’s Palladium

Forbes reported on what it means everyday with about 44% of the world’s palladium found in deposits in Russia.

As quoted in the market news:

In 2011 about 6.8 million ounces of palladium were mined with global demand of about 8.8 million ounces. Besides the new supply that comes online each year from mining companies, there are two other factors. One is recycling. The other is Gokran, the Russian State Reserve. Roughly 1.5 million ounces of palladium was recovered through recycling in 2011 and Gokran supplied about 750,000 ounces out of its own stockpile. Though there is one caveat: no one knows how big that stock pile really is. That’s one of the reasons why palladium trades at an implied discount. Blame Russia.

Click here to read the full Forbes report.