Robert Friedland Thinks “Platinum Valley” Could Become a Reality

Mining Weekly reported that yesterday evening, Robert Friedland told the Canada-Southern Africa Chamber of Business that he has it “on good authority” that in November, Toyota Motor Corp. (NYSE:TM) will launch the first commercially available hydrogen fuel cell-powered cars. He believes that will be a game changer for South Africa and envisions the creation of a “Platinum Valley” — similar to California’s Silicon Valley — in Limpopo.

As quoted in the market news:

Friedland pointed to the intensifying global trend of urbanisation as being the critical driver behind the impending switch to hydrogen fuel cell-powered vehicles, adding that South Africa has an unprecedented opportunity to capitalise on beneficiating the platinum it produces, to serve the new markets.

‘With Japan being on board, we stand on the verge of something serious. This constitutes a new and fundamental use for platinum, which bodes incredibly well for South Africa, owing to it supplying about 79% of the world’s platinum,’ he said.

Click here to read the full Mining Weekly report.