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Impala Platinum Plans to Run Refinery on Fuel Cells in Two Years

  • Springs refinery currently uses 22 megawatts of power
  • Miner wants to stimulate demand for platinum amid low prices
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Impala Platinum Holdings Ltd., the world’s second-biggest producer of the metal, plans to power its 22-megawatt refinery in South Africa using hydrogen and methane-powered fuel cells within the next two years.

Impala is seeking to highlight the effectiveness of fuel cells, which contain platinum, as it tries to stimulate demand for the precious metal. While the technology is not yet commercially viable, it should become cheaper in time as more companies adopt it, Chief Executive Officer Terence Goodlace told reporters Thursday.