All fact sheets · The Strata Memo
Palladium
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Chemical details
- State at room conditions
- Solid
- Melting point
- 1,828 K (1,555 °C)
- Boiling point
- 3,236 K (2,963 °C)
- Density
- 12.0 g/cm³
- Common oxidation states
- +3, +2
- Electronegativity (Pauling)
- 2.2
- Atomic radius
- 202 pm
- First ionization energy
- 8.337 eV
- Discovered
- 1803
Source: U.S. National Library of Medicine, PubChem, Periodic Table of Elements (element Palladium) (current at retrieval)
USGS 2025 critical mineral. Figures: USGS Mineral Commodity Summaries 2026 (public domain); sources are in the source register.
Where it is made: six stages
bottleneck made in the U.S. partly no U.S. activity no source yet
Where the sites are
ConcentrateRefiningring = place only known to county or district
Most pins mark the centre of the place the source names for the site (a town, county or district), not the exact mine; U.S. sites from MSHA use MSHA's own coordinates for the mine. Hover for operator and outputs. Map outlines: Natural Earth (public domain); place lookup: © OpenStreetMap contributors (ODbL).
8 of 10 sites have no plottable place and are not pinned.
Overview
How much does the U.S. import?
of U.S. palladium use was met by imports in 2025 (USGS net import reliance).
Source: U.S. Geological Survey, Mineral Commodity Summaries 2026: Palladium (February 2026)
Did you know?
Palladium is named after the asteroid Pallas, which had been discovered shortly before.
Checked against two independent sources. Verified 2026-10-26.
Sources: Wikipedia · Los Alamos National Laboratory periodic table (Wikipedia text is CC BY-SA)
How concentrated is supply?
88% of world production comes from three countries (Russia, South Africa, Canada). Highly concentrated.
Thirds of the bar: under 33%, 33 to 65%, 66% and over. Our own rule of thumb, not a USGS rating.
Source: U.S. Geological Survey, Mineral Commodity Summaries 2026: Palladium (February 2026)
Supply
Who has it, and who digs it?
Where it is produced, 2025 (Mine production: Palladium)
| Name | Value |
|---|---|
| Russia | 43% |
| South Africa | 36% |
| Canada | 8% |
| Zimbabwe | 8% |
| United States | 3% |
Share of the world total as printed by USGS (rounded). Production and reserves are different things: reserves are what is economic to mine. Hover or focus a bar for its value, or switch to the table view.
Source: U.S. Geological Survey, Mineral Commodity Summaries 2026: Palladium (February 2026)
Where U.S. imports come from
Choose a data set, then a view. A country keeps the same color in every chart on this page. Grey means other countries, or a country beyond the seven colors (always labeled). Hover or focus a mark for its value, or use the table view.
- South Africa37%
- Russia36%
- Belgium6%
- Canada6%
- Other countries15%
| Country | Share of U.S. imports | Share of this chart |
|---|---|---|
| South Africa | 37% | 37.0% |
| Russia | 36% | 36.0% |
| Belgium | 6% | 6.0% |
| Canada | 6% | 6.0% |
| Other countries | 15% | 15.0% |
Average share of U.S. imports of palladium, 2021–24, as printed by USGS (rounded, so shares may not sum to 100). Other countries are USGS's own grouping.
Source: U.S. Geological Survey, Mineral Commodity Summaries 2026: Palladium (February 2026)
- South Africa50% · $5.2B
- Germany11% · $1.1B
- Belgium8% · $870.9M
- Russia7% · $732.9M
- Switzerland6% · $630.6M
- Italy4% · $370.6M
- All other countries14% · $1.4B
| Country | U.S. imports, 2025 | Share of this chart |
|---|---|---|
| South Africa | 50% · $5.2B | 50.5% |
| Germany | 11% · $1.1B | 10.6% |
| Belgium | 8% · $870.9M | 8.5% |
| Russia | 7% · $732.9M | 7.1% |
| Switzerland | 6% · $630.6M | 6.1% |
| Italy | 4% · $370.6M | 3.6% |
| All other countries | 14% · $1.4B | 13.7% |
U.S. general imports (customs value) in calendar 2025 under HS 7110; countries beyond the top six are grouped. The code can include goods beyond this mineral. The Shift view compares each country's share of 2025 with its share of Jan to Aug 2026 (shares of each period's total).
Source: U.S. Census Bureau, International Trade API: U.S. imports by HS code and country (calendar 2025; Jan to Aug 2026) (data months 2025-12, 2026-08)
Price
Price, dollars per troy ounce: Palladium
Source: U.S. Geological Survey, Mineral Commodity Summaries 2026: Palladium (February 2026)
Trade and tariffs
Trade codes and tariffs
| HTS code | What it covers | Normal rate | Column 2 rate |
|---|---|---|---|
| 7110 | Platinum, unwrought or in semimanufactured forms, or in powder form | Free * | Free |
Rates from the U.S. Harmonized Tariff Schedule (USITC, saved 2026-10-26). The normal rate is column 1 general; column 2 applies to countries without normal trade relations. A range means different products under the code have different rates. An asterisk means the schedule footnotes point to Chapter 99 additional-duty headings. Section 232, Section 301, emergency tariffs and antidumping or countervailing duties are set in separate notices and are not shown. Look up any code at hts.usitc.gov. These are the main codes for this mineral, not a complete list.
Source: U.S. International Trade Commission, Harmonized Tariff Schedule of the United States, general and column 2 rates (edition current when saved)
U.S. trade by country
U.S. imports in 2025 by source country, code 7110
| Name | Value |
|---|---|
| South Africa | 50% · $5.2B |
| Germany | 11% · $1.1B |
| Belgium | 8% · $870.9M |
| Russia | 7% · $732.9M |
| Switzerland | 6% · $630.6M |
| Italy | 4% · $370.6M |
U.S. exports in 2025 by destination, code 7110
| Name | Value |
|---|---|
| Canada | 18% · $1.1B |
| Italy | 17% · $1.1B |
| Germany | 13% · $841.8M |
| United Kingdom | 13% · $826.8M |
| Japan | 10% · $642.8M |
| Switzerland | 7% · $454.2M |
7110 Platinum, unwrought, semimfr forms or in powder fm
Top import sources South Africa 50%, Germany 11%, Belgium 8%
Top export destinations Canada 18%, Italy 17%, Germany 13%
U.S. Census Bureau International Trade API, saved 2026-10-26. Imports are general imports (customs value) and exports are total exports, in U.S. dollars. Duty collected is Census's calculated duty on imports for consumption. Figures cover every 10-digit product under the code, so they can include goods beyond this mineral, and the duty shown is not split into Section 232, Section 301 or antidumping duties. Bars show the largest code for each direction. Group rows such as the EU or OECD are left out so no country is counted twice.
Source: U.S. Census Bureau, International Trade API: U.S. imports and exports by HS code and country (calendar 2025, and January to Aug 2026) (data months 2025-12, 2026-08)
Value chain and risk
Value chain: where the bottlenecks are
Mining
One Montana company mined and processed platinum-group metals in 2025 (about $290 million, down 31%), and small amounts came as byproducts of Michigan copper-nickel mining. (partly U.S.)
The source says
“One company in Montana mined and processed PGMs with an estimated value of $290 million in 2025, a decrease of 31% compared with $420 million in 2024.”
“Small quantities of PGMs also were recovered as byproducts of copper-nickel mining in Michigan”
Source: USGS Mineral Commodity Summaries 2026, Platinum-Group Metals (PDF page 148) (2026-02)
Russia is the world's leading producer of mined palladium; U.S. palladium imports came from South Africa (37%) and Russia (36%) in 2021-24. (partly U.S.)
The source says
“Estimated production in Russia, the world’s leading producer of mined palladium, decreased by 6%”
“Palladium: South Africa, 37%; Russia, 36%; Belgium, 6%; Canada, 6%, and other, 15%.”
Source: USGS Mineral Commodity Summaries 2026, Platinum-Group Metals (PDF page 148) (2026-02)
Ore processing and primary recovery
At Stillwater and East Boulder in Montana, ore is concentrated at the mines and the concentrate goes to a smelter and base metals refinery at Columbus, Montana. (partly U.S.)
The source says
“Stillwater and East Boulder are platinum/palladium mines operated by Sibanye-Stillwater in Montana, US.”
“The concentrates are further processed at the company’s smelter and base metals refinery in Columbus, Montana.”
“Crushing, grinding and flotation to recover a sulphide concentrate; subsequent smelting to produce matte for further refining”
Source: Mining Technology, Stillwater and East Boulder Platinum and Palladium Mine, Montana, USA (2020-04-24)
Nornickel, described as the world's largest high-grade nickel and palladium producer, makes precious metal concentrates at its Norilsk site in Russia. (U.S. role not stated)
The source says
“Nornickel is Russia’s leading metals and mining company and the world’s largest high-grade nickel and palladium producer”
“The Norilsk site’s enterprises produce nickel converter matte for Kola MMC, as well as cathode copper, commercial sulphur, selenium, precious metal concentrates, and tellurium ingots.”
Source: Nornickel, Assets (Norilsk Site) (2026)
Refining and separation
The Montana company processes its own platinum-group metals, but the Michigan byproduct material was exported for refining. (partly U.S.)
The source says
“One company in Montana mined and processed PGMs”
“however, this material was exported for refining.”
Source: USGS Mineral Commodity Summaries 2026, Platinum-Group Metals (PDF page 148) (2026-02)
Metal, alloy and chemical
Umicore's precious metals refining unit makes platinum, palladium and rhodium as 99.95% powder (sponge), and iridium and ruthenium as powder or sponge of the same purity. (U.S. role not stated)
The source says
“Umicore Precious Metals Refining produces platinum, palladium and rhodium in the form of a high purity powder (minimum 99.95%), known as "sponge".”
“Iridium and ruthenium are also available as a powder / sponge, with a purity of 99.95%.”
Source: Umicore, Precious Metals Refining: Precious metals (2026)
Components and end use
The leading U.S. use of platinum-group metals is in automobile catalytic converters. (U.S. role not stated)
The source says
“The leading domestic use for PGMs was in catalytic converters to decrease harmful emissions from automobiles.”
Source: USGS Mineral Commodity Summaries 2026, Platinum-Group Metals (PDF page 148) (2026-02)
Recycling
About 50,000 kilograms of palladium and 8,600 kilograms of platinum were recovered from U.S. automobile catalytic converters in 2025. (U.S. activity)
The source says
“including about 50,000 kilograms of palladium and 8,600 kilograms of platinum recovered from automobile catalytic converters in the United States.”
Source: USGS Mineral Commodity Summaries 2026, Platinum-Group Metals (PDF page 148) (2026-02)
Bottleneck = one country dominates the stage, or the U.S. relies on imports for it, as the quote shows. “No sourced data yet” is not “no problem”.
Who operates it, where, and what comes out
6 operators, 10 named sites.
MiningOre processing and primary recoveryRefining and separationRecycling
Impala Platinum
3 sites · South Africa
Sources
Impala Rustenburg mining operations
“Impala, Implats' 87%-owned primary subsidiary, has mining operations situated on the Western Limb of the Bushveld Complex near Rustenburg in South Africa.”
“Implats is a leading, fully integrated PGM producer.”
Source: Impala Platinum Holdings (Implats), Implats at a glance (2026)
Marula mine
“Marula is 73% owned by Implats and is one of the first operations developed on the relatively under-exploited Eastern Limb of the Bushveld Complex in South Africa.”
“Situated in the Limpopo province, the operation is some 35km north-west of Burgersfort.”
Source: Impala Platinum Holdings (Implats), Implats at a glance (2026)
Impala base and precious metals refineries
“Impala's base and precious metals refineries are situated in Springs, east of Johannesburg.”
“Implats is a leading, fully integrated PGM producer.”
Source: Impala Platinum Holdings (Implats), Implats at a glance (2026)
Sibanye-Stillwater
2 sites · United States
Sources
Stillwater and East Boulder mines
“Stillwater and East Boulder are platinum/palladium mines operated by Sibanye-Stillwater in Montana, US.”
“The Stillwater mine is in the Beartooth Mountains, 130km southwest of Billings, Montana.”
“The East Boulder project, 20km west of Stillwater, was developed with an investment of $370m.”
Source: Mining Technology, Stillwater and East Boulder Platinum and Palladium Mine, Montana, USA (2020-04-24)
Columbus smelter and base metals refinery
“Stillwater and East Boulder are platinum/palladium mines operated by Sibanye-Stillwater in Montana, US.”
“The concentrates are further processed at the company’s smelter and base metals refinery in Columbus, Montana.”
“the concentrate is upgraded to produce matte containing approximately 16,000g/t PGMs, plus small amounts of rhodium, gold, nickel, copper and silver.”
Source: Mining Technology, Stillwater and East Boulder Platinum and Palladium Mine, Montana, USA (2020-04-24)
Valterra Platinum
2 sites · South Africa, Zimbabwe
Sources
Mogalakwena, Amandelbult, Mototolo and Unki mines
“We also hold the Amandelbult and Mototolo mines in South Africa, and Unki mine in Zimbabwe.”
“Our massive ore body is amenable to bulk underground mining, particularly at Mogalakwena, where mineral reserves exceed the total PGM reserves of our peers in South Africa.”
Source: Valterra Platinum, What we do (2026)
Valterra Precious Metals Refinery and Base Metals Refinery
“We safely and responsibly mine PGMs and their associated co-products at our long-life mines in South Africa and Zimbabwe, before smelting and refining them at our own processing facilities.”
“Our Precious Metals Refinery is one of the most technologically advanced plants of its kind, while our Base Metals Refinery is the largest producer of nickel cathode in South Africa.”
“We operate across the value chain to produce PGMs (platinum, palladium, rhodium, iridium and ruthenium) and base metals (nickel, copper and UG2 chrome concentrate).”
Source: Valterra Platinum, Who we are (2026)
Freeport-McMoRan
1 site · United States
Sources
El Paso copper refinery and rod mill
“The El Paso refinery has the potential to operate at an annual production capacity of about 900 million pounds of copper cathode, which is sufficient to refine all of the copper anode we produce at our Miami, Arizona operation.”
“The Copper Refinery and Rod Mill is located in east-central El Paso, which is in the far western corner of Texas near the U.S.-Mexico border and the Rio Grande River.”
“Our El Paso refinery also produces nickel carbonate, copper telluride and autoclaved slimes material containing gold, silver, platinum and palladium.”
Source: Freeport-McMoRan, Operations: North America (United States) (2026)
Nornickel
1 site · Russia
Sources
Norilsk site: Copper Plant (precious metal concentrates)
“Nornickel is Russia’s leading metals and mining company and the world’s largest high-grade nickel and palladium producer”
“Its operations are located on the Taimyr Peninsula in Russia, in the north of the Krasnoyarsk Region.”
“Copper Plant’s metallurgical shop recycles sludge from the copper tankhouses, as well as copper cake to produce precious metal concentrates, commercial selenium, and tellurium.”
Source: Nornickel, Assets (Norilsk Site) (2026)
Umicore
1 site · Belgium
Sources
Hoboken precious metals refinery and recycling plant
“About Umicore Belgium”
“At Umicore in Hoboken, we recycle 17 different metals, including gold, silver, platinum, rhodium and palladium.”
“The precious metals refining site in Hoboken is one of a kind and the largest in the world.”
Source: Umicore Belgium, Hoboken: Activities (2026)
Not a complete register: a missing name means not yet sourced. Outputs are products named in the checked quote; the source page may list more.
Policy and funding
Policy timeline
Tagged by AI from federal sources; each links to the original. How we label.
Source: U.S. federal sources (Federal Register, Grants.gov, DOE, Regulations.gov, DFC), Policy items tagged for Palladium (dates per item)
Federal awards already made
Texas A&M University-Corpus Christi · National Science Foundation · $547.2K obligated · started 2026-09-01
Source: usaspending.gov, retrieved 2026-10-29
The 1 largest of 1 AI-tagged awards from USAspending (last 12 months, found by keyword; some are only loosely about this mineral). See all awards for Palladium.
Source: U.S. Department of the Treasury, Bureau of the Fiscal Service, USAspending.gov: spending by award (contracts and grants, last 12 months) (award start dates per item)
Data tables
Palladium: USGS tables
United States
| Measure | Unit | 2024 | 2025 |
|---|---|---|---|
| Net import reliance as a percentage of apparent consumption: Palladium | percent | 34 | 57 |
| Mine production: Palladium | kilograms | 10,200 | 6,200 |
| Imports for consumption: Palladium | kilograms | 68,300 | 92,000 |
| Exports: Palladium | kilograms | 39,900 | 18,000 |
| Consumption, apparent: Palladium | kilograms | 83,600 | 130,000 |
| Price, dollars per troy ounce: Palladium | dollars per troy ounce | 994.9 | 1,100 |
World production: Mine production: Palladium (kilograms; top 6 of 5, plus other countries)
| Country | 2024 | 2025 |
|---|---|---|
| Russia | 89,000 | 84,000 |
| South Africa | 82,600 | 70,000 |
| Canada | 17,000 | 16,000 |
| Zimbabwe | 15,200 | 15,000 |
| United States | 10,200 | 6,200 |
| Other countries | 2,870 | 2,900 |
U.S. import sources: Palladium (percent of imports, 2021–24)
| Country | Share (%) |
|---|---|
| South Africa | 37 |
| Russia | 36 |
| Belgium | 6 |
| Canada | 6 |
| Other countries | 15 |
Source: U.S. Geological Survey, Mineral Commodity Summaries 2026: Palladium (February 2026)