Africa's Green Hydrogen Revolution: PGM Market Growth and Opportunities
Key Ideas
  • The global market for platinum group metals (PGMs) is projected to increase by 4.47% by 2029, driven by the demand for PGMs in green technologies, including hydrogen energy applications.
  • Africa, with its vast PGM reserves, is set to play a crucial role in the green hydrogen revolution by intensifying green hydrogen activities, enabling the production of electricity and powering various applications.
  • Namibia and South Africa are leading the way in green hydrogen projects, attracting substantial investments and partnerships to develop green hydrogen production capacities and export channels.
  • South Africa is fostering synergy between PGMs and green hydrogen, exemplified by partnerships between mining, automotive, and energy firms to advance PGMs and green hydrogen value chains for applications like hydrogen fuel cell vehicles.
The global market for platinum group metals (PGMs) is expected to experience a 4.47% growth by 2029, largely influenced by the increasing demand for PGMs in green technologies, including hydrogen energy applications. The African continent, rich in PGM reserves, is positioned to significantly contribute to the green hydrogen revolution by enhancing green hydrogen activities and utilizing PGMs in various applications, such as fuel cell technology. Countries like Namibia and South Africa are at the forefront of green hydrogen initiatives, attracting substantial investments from various stakeholders to establish green hydrogen production capacities. For instance, Namibia has secured significant investments for green hydrogen projects, with plans to implement a large-scale project utilizing renewable energy sources. In South Africa, partnerships between private and public sector entities are driving the integration of PGMs and green hydrogen, particularly in advancing hydrogen fuel cell vehicles. Additionally, South Africa is set to benefit from a large-scale green hydrogen and ammonia project, contributing to the country's export revenue. The continent's potential for green hydrogen production is further underscored by the establishment of partnerships to explore the feasibility of a green hydrogen corridor connecting provinces within South Africa and Namibia. With the surge in global demand for green hydrogen and the essential role of PGMs in this transition, Africa's Critical Minerals Africa Summit aims to facilitate discussions on policies and projects that will position the continent as a key player in the green hydrogen market.
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