The Growing Demand for Platinum Group Metals in the Energy Transition Era
Key Ideas
  • Platinum group metals (PGMs) are becoming increasingly important in the energy transition towards net zero emissions by 2050, driven by applications in hydrogen, sustainable aviation fuels, and direct air capture and storage.
  • Canada, particularly Ontario, plays a crucial role in global PGM supply, with advanced exploration projects like Clean Air Metals’ Thunder Bay North Project contributing significantly to the sector.
  • Analysts predict a continued platinum deficit as demand rises, especially in industrial applications, energy transition technologies, and the hydrogen economy, leading to a positive outlook for PGMs.
  • Innovative technologies like liquid organic hydrogen carriers are expected to boost the demand for PGMs, particularly platinum and palladium, creating opportunities for growth in the industry.
The world's push towards achieving net zero emissions by 2050 has led to a growing demand for platinum group metals (PGMs) due to their essential role in clean energy technologies. PGMs, including platinum, palladium, rhodium, iridium, ruthenium, and osmium, are vital components in various applications such as hydrogen production, sustainable aviation fuels, and energy storage solutions. The International Energy Agency (IEA) highlights the need for innovative technologies like low-emissions hydrogen to accelerate the transition to a sustainable energy system. With the demand for PGMs on the rise, projects like Clean Air Metals’ Thunder Bay North Critical Minerals Project in Ontario are critical to meeting the supply needs. The project's focus on PGMs, copper, and nickel underscores the significance of these metals in the energy transition landscape. Canada, a significant global producer of PGMs, is poised to play a crucial role in meeting the increasing demand. Analysts suggest that the platinum deficit is likely to persist as demand continues to surge, driven by industrial applications and the growth of energy transition technologies. Companies like Johnson Matthey and SFA Oxford anticipate a rise in demand for PGMs, especially in hydrogen applications, reinforcing the positive outlook for the industry. Canada's contribution to global PGM supply, particularly from Ontario, showcases the country's importance in the sector. The Thunder Bay North Project's ongoing drilling program aims to enhance the project's economic viability by identifying high-grade mineralization zones. This reflects the industry's commitment to innovation and sustainability in meeting the evolving energy demands.
ADVANCEH2

Our vision is to be the world's leading online platform for advancing the use of hydrogen as a critical piece needed to deliver net-zero initiatives and the promise of a clean H2 energy future.

© 2024 AdvanceH2, LLC. All rights reserved.