Toronto and New York-listed Platinum Group Metals (PTM) has announced a groundbreaking initiative that could significantly impact the energy generation and storage fields. Leveraging the unique properties of platinum group metals (PGMs) as catalysts, PTM is exploring advanced technologies for more efficient energy solutions.
The company’s 2023 annual results revealed substantial progress in its battery technology initiative, developed in collaboration with Johannesburg Stock Exchange-listed Anglo American Platinum (Amplats). PTM’s CEO, Frank Hallam, highlighted this partnership’s role in advancing their shared vision.
Lion Battery Technologies, PTM’s venture with Amplats, is harnessing the catalytic properties of platinum and palladium to develop next-generation battery chemistries. This collaboration has reached an advanced stage, with Lion engaging the US-based Battery Innovation Center to drive the commercialization of these new technologies.
Lion is focusing on enhancing both lithium-sulphur and lithium-ion (NMC) technologies, aiming to increase specific energies by 20% to 100% compared to current standards while maintaining or exceeding their lifecycle. This investment aligns with a broader strategy to integrate vertically and develop new industrial applications for palladium and platinum.
According to a report by Mining Weekly, ongoing research and development efforts at Florida International University continue to yield promising technical results. Lion’s innovative approach could potentially benefit a wide range of lithium-ion battery chemistries. To validate their proprietary compositions, Lion is conducting independent trials on both small and large scales.
In addition to its battery technology endeavors, PTM remains committed to advancing the Waterberg project, a key development in South Africa’s Bushveld Complex. This project, envisioned as a mechanized, shallow, decline access mine for palladium, platinum, gold, and rhodium, is moving towards a development and construction decision backed by construction financing and concentrate offtake agreements.
As of late November, Waterberg JV Resources’ directors and shareholders have been approving a Stage 3 budget of $1.62 million for continued work on the project. This budget, a part of a larger $21 million work program approved last year, supports the project’s near-term objectives.
PTM recently closed a non-brokered private placement of common shares, raising $2.5 million from the issuance of 2,118,645 shares to major shareholder Hosken Consolidated Investments through its subsidiary Deepkloof Limited. This move reinstated Hosken, led by CEO Johnny Copelyn, to a nearly 27% interest in PTM.
Furthermore, the Japan Organisation for Metals and Energy Security (Jogmec) and Hanwa have formed a special purpose company to manage their future equity interests in the Waterberg project, consolidating their combined interests into a forward-looking 21.95% stake.
The Waterberg project, developed in partnership with Impala Platinum, Mnombo, Jogmec, and Hanwa, has consistently intercepted PGM mineralization across numerous exploration boreholes, indicating a promising future for this venture.
PTM’s innovative use of platinum and palladium in battery technology, coupled with its strategic focus on the Waterberg project, positions the company at the forefront of energy storage solutions. These developments not only bolster South Africa’s mining industry but also open new avenues for PGMs in the global market.
