Located in South Africa, the BIC contains some of the richest ore deposits on Earth The complex contains the world's largest reserves of platinum-group metals (PGMs) or platinum group elements (PGEs)—platinum , palladium , osmium , iridium , rhodium , and ruthenium along with vast quantities of iron , tin , chromium , titanium , and vanadium . These are used in, but not limited to, jewelry, automobiles, and electronics. Gabbro or norite is also quarried from parts of the complex and rendered into dimension stone. There have been more than 20 mine operations. There have been studies of potential uranium deposits. The complex is well known for its chromitite reef deposits, particularly the Merensky reef and the UG-2 reef. It represents about 75 percent of the world’s platinum and about 50 percent of the world's palladium resources. In this respect, the Bushveld complex is unique and one of the most economically significant mineral deposit complex in the world.