[SMM Flash News] Valterra Sees AI Driving Future Platinum Demand as H1 Profit Surges

Published: Jul 29, 2026 23:30

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South Africa's Valterra Platinum expects artificial intelligence and the rapid expansion of data centres to become a new growth driver for platinum group metals (PGMs), as the company reported a 17-fold increase in first-half profit. CEO Craig Miller said AI-related applications currently account for an estimated 200,000–400,000 oz of annual PGM demand, which could increase up to fivefold by 2030. Valterra also sees long-term demand growth from industrial applications, hydrogen technologies and jewellery, while global platinum demand is expected to exceed supply for a fourth consecutive year.

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