Securing Platinum-Group Metals for Transport Low-Carbon Transition

Abstract

Summary Fuel cell technology is the key to transport low-carbon transition. It depends on the catalysis from platinum-group metals, the rarest metals on Earth. However, due to the limited reserve, it is critical to evaluate whether global platinum resources can meet the increasing demand. This paper aims to account whether current platinum resources can support future fuel cell vehicle deployment for 140 countries for the period 2000–2100 by establishing a technology-rich, bottom-up model. It is found that, under a wide range of scenarios, the primary resource demand is significantly lower than the supply capacity at the global level. This result confirms that fuel cell vehicles have the potential to significantly contribute to global decarbonization strategies. However, challenges exist at regional and national levels. Most regions will rely heavily on resource import from the few countries with substantial resource endowments but with political instability, implying potential supply risks.