Platinum
Platinum is a chemical element with symbol Pt and atomic number 78. It is a dense, malleable, ductile, highly unreactive, precious, silverish-white transition metal. Its name is derived from the Spanish term "platino", meaning "little silver".
Royal Bafokeng Nation
In 1925 the world's largest deposits of platinum group metals, such as platinum, rhodium and palladium were discovered on Bafokeng lands. Mining companies now pay royalties to the RBN in exchange for the right to mine these metals. Also, a court settlement in 1999 with Impala Platinum Mining (Implats), the second-largest platinum company in South Africa, gave the RBN a 22 percent royalty on all platinum taken from their territory and an ownership stake in Implats. The value of the Bafokeng's stake in Impala had tripled to more than $50 million by 2001. The Bafokeng receive annual royalties of approximately $63 million from platinum mining.