Fuel cells for the vehicle drive of the future
Currently, the development is moving towards battery-powered electric vehicles. But fuel cell technology is also making progress. As Neal Froneman, CEO of Sibanye-Stillwater recently stated at the Investing in African Mining Indaba 2020, cars are already being produced with fuel cells. This technology is also moving closer and closer.
For example, more than 100 buses and around 6,000 hydrogen-powered vehicles are to be on the road at the Olympic Games in Japan. Also, the first autonomous vehicles are to drive through Tokyo, perhaps even an air taxi will be used.
Sibanye-Stillwater is interested in the development because the company is the world's largest primary producer of platinum (a key component of fuel cells). In the case of palladium, Sibanye-Stillwater is the second largest primary producer, as well as a major gold producer: https://www.commodity-tv.com/play/sibanye-stillwater-diversifying-globally-in-metals-and-jurisdictions/.
About 80 percent of the palladium produced worldwide is used in the automotive industry. Petrol engines need palladium and hybrid cars also have a petrol engine in addition to an electric motor.
Today there are about six million electric cars on the road worldwide, most of them in China and the USA. There will still be progress in electric mobility in terms of range and available charging stations. In any case, the number of vehicles with lithium-ion batteries is increasing. It is estimated that around 60 million electric vehicles will be sold in 2040.
Lithium, the raw material required in batteries, is also becoming increasingly important. For example, Millennial Lithium owns lithium at its Pastos Grandes Lithium Property in Argentina: https://www.commodity-tv.com/play/millennial-lithium-getting-environmental-permits-and-financing-until-summer/. Mining licenses have already been issued and the company is debt-free. Production could start as early as next year.
Current company information and press releases from Sibanye-Stillwater (https://www.resource-capital.ch/en/companies/sibanye-stillwater-ltd/) and Millennial Lithium ( https://www.resource-capital.ch/en/companies/millennial-lithium-corp/).
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