What's Happening?
Sibanye-Stillwater, a major player in the platinum group metals (PGM) industry, is calling for the development of new long-term applications for PGMs to counter declining demand in traditional uses such as autocatalysis. At its South Africa Capital Markets
Day, the company highlighted several initiatives, including the substitution of iridium with ruthenium in electrolyser catalysts and the development of palladium-based applications for hydrogen purification. These efforts aim to create sustainable demand for PGMs in industrial applications, ensuring their continued relevance in the market.
Why It's Important?
The push for new PGM applications is crucial as the automotive industry shifts away from internal combustion engines, reducing demand for PGMs used in catalytic converters. By investing in alternative uses, Sibanye-Stillwater seeks to stabilize the PGM market and support the transition to green technologies, such as hydrogen fuel cells. This strategy not only benefits the company but also contributes to global efforts to reduce carbon emissions and promote sustainable energy solutions. The success of these initiatives could influence the future direction of the PGM industry and its role in the green economy.
What's Next?
Sibanye-Stillwater plans to continue its collaboration with partners like Heraeus and Johnson Matthey to advance its PGM initiatives. The company will focus on identifying and commercializing new industrial applications, potentially leading to increased demand for PGMs. As the global economy moves towards renewable energy and green technologies, the development of new PGM applications could play a significant role in supporting these transitions. The outcomes of these efforts will be closely watched by industry stakeholders and could shape the future of the PGM market.
