Africa's Green Hydrogen Revolution Drives Demand for Platinum Group Metals
Key Ideas
  • The global market for platinum group metals (PGMs) is projected to increase by 4.47% by 2029, driven by growing demand for PGMs in green technologies like hydrogen energy.
  • Africa, with the world's largest PGM reserves, including South Africa and Zimbabwe, is set to play a crucial role in the green hydrogen revolution, with the continent's abundant renewable resources facilitating significant green hydrogen production potential.
  • Namibia is leading the way in green hydrogen initiatives, attracting billions in investments for projects that aim to produce substantial amounts of green hydrogen per year using renewable energy sources and hydrogen electrolyzers.
  • Partnerships and developments, such as the EUR 250-million hydrogen storage facility in Walvis Bay Port, highlight the continent's efforts to advance green hydrogen technologies and foster global export opportunities.
The global market for platinum group metals (PGMs) is forecasted to experience a 4.47% growth by 2029, propelled by the increasing demand for PGMs in green technologies, particularly hydrogen energy. The Critical Minerals Africa Summit in Cape Town aims to explore the link between PGMs and green hydrogen, emphasizing their importance in the energy transition both locally and globally. Africa, being home to the majority of global PGM reserves, is positioned to drive the green hydrogen movement. Nations like Namibia, South Africa, Mauritania, and Egypt are ramping up their green hydrogen activities, anticipating a surge in long-term PGM demand. With Africa's vast renewable resources, the continent has the capacity to produce 50 million tons of green hydrogen annually by 2035, enabling the decarbonization of various industries and supporting power and transportation needs. Namibia has emerged as a front-runner in green hydrogen projects, securing significant investments for initiatives like the $10-billion project by Hyphen Hydrogen Energy. Collaborations like the one between Antwerp Bruges and the Namibian Ports Authority for a hydrogen storage facility highlight the continent's commitment to advancing green hydrogen technologies and establishing itself as a key player in the global green energy market.
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