Australian platinum group metals (PGMs) developer Podium Minerals has joined the World Platinum Investment Council (WPIC) as a pre-production member.

The ASX-listed company aims to be Australia’s first miner and producer of PGMs and a global preferred supplier of critical minerals to support decarbonisation.

Pre-production membership is a new category of WPIC membership, specifically for companies involved in the development of orebodies that have the potential to produce platinum in the future.

The WPIC says the membership broadens support for the implementation of its strategy to increase investment in platinum and will enable more platinum advocates to distribute quality platinum insights to a wider global investment community.

It notes that the platinum market is forecast to record its third successive yearly deficit this year as demand continues to exceed supply, with further deficits expected for the foreseeable future.

The WPIC expects that a significant increase in platinum supply will be needed during the 2030s to support hydrogen’s growing role in global decarbonisation.

“We are delighted to welcome Podium as the first Australian pre-production member of the WPIC. 

“WPIC’s new pre-production membership category will enable more platinum advocates to distribute quality platinum insights to a wider global investment community. This will, in turn, enhance WPIC’s effectiveness in increasing awareness, understanding and ownership of platinum as an investment,” says WPIC CEO Trevor Raymond.

“I am excited that Podium is the first Australian PGM developer to join the WPIC. Becoming a pre-production member of the WPIC delivers one of the key corporate building blocks which underpin our strategy to develop Parks Reef PGM project,” says Podium Minerals executive chairperson Rod Baxter.

“Our membership of the WPIC will provide quality global market intelligence and valuable insights to inform our strategy and our decision-making, and will position Podium to stay at the forefront of PGM sector developments.

“Furthermore, our membership of this highly regarded organisation will unlock opportunities for engagement with the global PGM sector, and will provide avenues to promote Podium, our Parks Reef project and Western Australia as a future supplier of PGMs.

“We look forward to working with the WPIC and engaging in insightful industry discussions,” Baxter continues.