The rapid expansion of artificial intelligence (AI) applications is significantly increasing the demand for data center capacity, placing unprecedented pressure on the global power grid. Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM), a leading explorer and developer of platinum, is at the forefront of addressing this challenge by developing a supply of platinum, a metal crucial for the future of clean and resilient electrical infrastructure.
According to a report by the World Platinum Investment Council, global electricity demand from data centers is expected to more than double to approximately 945 TWh by 2030, exceeding the entire electricity consumption of some countries. This surge is largely driven by the AI-generated services that require massive amounts of data processing and storage, highlighting the critical role of platinum in hydrogen fuel cells and advanced electrical components.
PLG's Waterberg Project, recognized as one of the largest and lowest-cost undeveloped platinum group metal resources globally, positions the company as a potential key supplier in meeting the future power needs. The project's development comes at a time when data center electrification and sustainability are becoming top priorities for corporations and regulators alike, underscoring the strategic importance of platinum in the transition to cleaner energy sources.
For investors and stakeholders interested in following PLG's progress and updates, the company's newsroom provides the latest information. This development not only signifies PLG's role in the mining industry but also its contribution to supporting the infrastructure required for the next generation of technology and energy solutions.
