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Sibanye-Stillwater and Valterra Platinum have formed a partnership with Johnson Matthey to develop technologies utilizing platinum group metals (PGMs) for clean energy. This collaboration is aimed at expanding applications for PGMs amid a shift from traditional automotive uses to emerging technologies such as clean hydrogen.

Currently, 60% of global PGMs are used in catalytic converters for internal combustion engines. The clean hydrogen industry is forecasted to significantly increase the demand for platinum, potentially reaching one-third of 2021 production levels.

The platinum market is expected to remain in deficit, averaging 348,000 ounces annually from 2027 to 2030, while palladium may have a slight surplus. Valterra expects a growth in earnings of 85% to 105% for the fiscal year ending December 31, 2025.