Platinum has been named by the United States Geological Survey (USGS) in an updated list of 50 mineral commodities deemed critical to the US economy and national security.
The 2022 list features the platinum group metals (PGMs) platinum, palladium, iridium, rhodium and ruthenium as individual elements for the first time. The inclusion by the USGS – the science agency for the US Government’s Department of the Interior – reflects the increasing importance of PGMs as raw materials which support the transition to clean energy.
In Europe, platinum has since 2020 been included in the European Commission’s Action Plan on Critical Raw Materials, a list of 30 materials which foster the transition towards a greener and digital economy. In China, platinum is recognised as a metal of strategic importance along with lithium, cobalt and nickel.
Having a stake in the value chains of climate-safe energy technologies, such as green hydrogen production, is increasingly appreciated, as it can boost economic competitiveness and energy independence.
The USGS will review its critical minerals list again in three years.
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