Platinum, a metal more than 30 times rarer than gold, has become a key mineral in the global energy transition. The energy transition requires change in any industry. This transition will require rapid development of renewable energy sources, as well as supporting infrastructure, including grid-scale batteries, electrolysers, electric vehicle charging piles, and more.
This has fuelled demand for certain metals, often referred to as key minerals or energy transition metals. Platinum is one of the rarest of these and is invaluable in making electrolysers and fuel cells cost-competitive. However, if the supply of platinum, which is currently extremely limited, does not increase to meet demand, it could pose a challenge to the transition.
