Platinum
Platinum is a member of the platinum group of elements and group 10 of the periodic table of elements. It has six naturally occurring isotopes. It is one of the rarer elements in Earth's crust, with an average abundance of approximately 5 μg/kg. It occurs in some nickel and copper ores along with some native deposits, mostly in South Africa, which accounts for 80% of the world production. Because of its scarcity in Earth's crust, only a few hundred tonnes are produced annually, and given its important uses, it is highly valuable and is a major precious metal commodity.
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.