ABN – Anglo American Platinum (JSE: AMS) has announced that it would be willing to help investors set up a hydrogen fuel cell-based product production plant in South Africa.
The company hopes that the plant would help encourage demand for the products, which use platinum as a catalyst to generate electricity.
Many producers of the precious metal believe that fuel cells could be consuming as much as 600,000 ounces of platinum by 2025.
Andrew Hinkly, Amplats’ executive head of marketing and sales, said: “What our strategy has been is to establish the technology for rural applications in South Africa, so we invested a lot of money to get to the level where the product is capable of going to market.
“We’re willing to invest further to make sure that the manufacturing can happen in South Africa.”