Platinum Group Metals the Global Energy Transition Spotlight

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Researched by Industrial Info Resources (Sugar Land, Texas)--For many years, Platinum Group Metals (PGMs) have played a crucial role in reducing carbon emissions in the automotive industry. As industries worldwide accelerate their efforts to achieve net zero emissions, PGMs are being adapted to the energy transition, as they become integral to the development of greener technologies.

PGMs, including platinum, palladium, rhodium, ruthenium, iridium and osmium, are known for their durability and resistance to chemicals and corrosion. From computer hard disks, jewelry, aircraft turbines, and automotive components to anti-cancer drugs and dental applications, PGMs are applied in a wide range of industrial sectors. But beyond these applications, it is their catalytic properties that are utilized in catalytic converters, which have helped reduce carbon emissions from fossil fuel-based vehicles.

If the energy transition wave is sustained, the importance of catalytic converters may diminish in conventional vehicles as the rising market of electric vehicles takes center stage. However, with the global shift toward a decarbonized economy, the role of PGMs is no longer limited to combustion vehicles. PGMs are equally integral in the manufacturing of electrolyzers and fuel cells for hydrogen-powered vehicles.

Furthermore, PGMs are recyclable, which enhances their sustainability.

Industrial Info is tracking US$11.25 billion worth of potential investment across 80 active projects geared toward the mining of platinum ore group metals. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project Database can click here for a list of detailed project reports.

By region, Africa, Europe and North America are at the forefront with a significant amount of investment. Globally, Africa dominates the market, with an investment worth US$7.76 billion, followed by Europe and North America, with investments of US$1.88 billion and US$1.2 billion, respectively.

By country, a large amount of investment is concentrated in South Africa, with spending of US$5.6 billion. Zimbabwe follows with US$2.05 billion and Russia with US$1.23 billion.

Russian Platinum (Moscow, Russia), Platinum Group Metals Limited (British Columbia, Canada), Anglo American Plc (London, England), Impala Platinum Holdings Limited (Illovo, South Africa) and Ivanhoe Mines Limited (Sandton, South Africa) are the key players that are investing a considerable amount toward the mining of PGMs.

Russian Platinum is investing US$1.23 billion in various PGM-mining projects. One of its largest projects is driving an investment of US$1 billion for the construction of the grassroot Chernogorskoe Above-Ground Platinum Ore Mine and Concentrator to produce about 7 million tons per year of platinum ore in Norilsk, Russia. Subscribers can click here for the project report and click here for the related plant profile.

About 69% of the total investment is in the planning stage, and 28% has progressed toward the construction stage.

While the demand for PGMs is on the rise, various bottlenecks exist, posing challenges that can impact the availability of these metals. The metals are found only in a few countries worldwide, with the majority of reserves and production concentrated in South Africa (90%) and Russia (8%). The limited supply can cause potential supply-chain disruptions, rendering them vulnerable to high costs. Additional obstacles include the environmental impact of mining PGMs, their recycling complexity and the need for technological advancement.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 Trillion (USD).