Address platinum supply-demand gap to keep decarbonisation on track reports IEF

The scarcity of platinum could threaten decarbonisation goals unless action is taken to address the supply-demand gap, according to a new International Energy Forum paper.

Supply-demand gaps are a larger problem affecting all energy transition metals, the extraction of which have a disproportionate impact on some of the world’s poorest people.

The situation is especially serious for platinum, however, which is sourced from a very small number of countries – South Africa alone accounts for more than 70% of global platinum supplies, and the country’s mining industry is facing ongoing challenges, from frequent strikes to disputes over environmental impacts. Platinum is more than 30 times rarer than gold, the paper notes.

The US, EU, and China have all recognised platinum as strategically important for the energy transition and have policies to stimulate demand. In the US, for instance, the Inflation Reduction Act aims to accelerate clean hydrogen production and fuel cell EV adoption and includes a generous tax incentive for low-carbon hydrogen.

… to continue reading this article and more, please login, register for free, or consider subscribing to H2 View

Register today

Paywall Asset Header Graphic

You’ve reached your weekly limit to access free articles!

Want to keep reading?

Please register for free and create a profile to gain access to this full article and H2 View’s daily news.

For access to more content including our monthly digital magazines, subscriber-only features or columns and all our other H2 View archive, please consider subscribing.

Alternatively you can continue reading more articles as a guest on Tuesday, 3rd October at 6:50AM

Please wait...