Nornickel is transforming the traditional mining and metallurgical business model by developing proprietary technologies and materials for green energy. The company actively collaborates with international research centers and industrial partners to accelerate the implementation of innovative solutions and develop demand for its metals.

Xi’an, November 15, 2024 — The rise of artificial intelligence and clean energy technologies is opening new horizons for the palladium market. The metal has become an important component in modern processor manufacturing, data storage systems, and renewable energy industry.

Palladium demand shows strong growth in China, with imports from Russia nearly doubling in 2023 to reach 554,000 ounces. According to Chinese industry experts, the country’s platinum group metals consumption could grow to 6.6 million ounces by 2030.

“The development of alternative energy, expansion of computing power for artificial intelligence, and increased efficiency in traditional platinum group metals applications will create additional palladium demand of at least 40-50 tonnes,” says Izotov, Head of Nornickel’s Palladium Technology Centre.

Recent research shows that the integration of palladium into fiberglass production equipment helps reduce both its cost and subsequent maintenance for end users. In the electronics sector, palladium can replace expensive gold in data center microchips without compromising necessary properties.

Nornickel’s Palladium Technology Centre is advancing more than 20 projects in high-performance technologies. By 2030, the company plans to create over 100 new palladium-based materials.

These and other prospects for palladium applications were discussed at the “2024 PGM Innovative Application Meeting,” organized with Nornickel’s support as part of the China Precious Metals Industry Development Forum in Xi’an on November 12-15. The event brought together leading industry experts to explore new technologies and solutions based on platinum group metals.

Artificial Intelligence and Clean Energy Create New Markets for Palladium