Isondo Precious Metals is set to commence operations at its manufacturing plant in Johannesburg in the upcoming month, which will contribute to the growth of the platinum group metals market in Africa.
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Vinay Somera, CEO, Isondo Precious Metals |
Isondo Precious Metals, a South African fuel cell component manufacturer, is set to commence operations at its advanced manufacturing facility in Johannesburg this August. The company will be processing platinum group metals (PGMs) for the production of electric vehicles (EVs) and green hydrogen technologies. Vinay Somera, the CEO of Isondo Precious Metals, will be a speaker at the Critical Minerals Africa (CMA) Summit in Cape Town this November. During the summit, he will discuss the pathway to the first commercial operations at the facility and the future investment plans of the company.
Somera is expected to delve into the current opportunities that are shaping South Africa's PGMs market and the country's role in the global green hydrogen and EV supply chain. South Africa boasts substantial PGMs reserves, accounting for 90% of the global share, which positions the country as a key player in these industries. With the forecasted increase in clean hydrogen demand by 2050, ranging from 125-585 million tons per annum, South Africa has the potential to attract new critical mineral-focused investments.
The Critical Minerals Africa 2024 summit on November 6 - 7 serves to position Africa as the primary investment destination for critical minerals. The event is held alongside the African Energy Week: Invest in African Energy 2024 conference (https://AECWeek.
The increasing demand for green hydrogen in South Africa offers the potential for the country to enhance job creation and local skills development by equipping its workforce with advanced clean energy technologies and technical expertise. Isondo Precious Metals initiated the recruitment of young graduates for its upcoming electrolyzer manufacturing facility last April, contributing to South Africa’s local content development agenda. Somera will be involved in high-level panel discussions, project showcases, and exclusive networking sessions at CMA 2024, emphasizing opportunities for global investors in Africa’s PGMs, as well as the best approaches for maximizing critical mineral processing and value-added activities.