Minerals Council: SA could have $150bn hydrogen economy by 2050

Mining producers at the Mining Indaba in Cape Town have been discussing how they can leverage clean energy solutions with environmental protections a key issue due to climate change pressures.

Picture: Pexels.

CAPE TOWN - The Minerals Council of South Africa on Wednesday said its commissioned study showed that the country could have a $150 billion hydrogen economy by 2050.

Mining producers at the Mining Indaba in Cape Town have been discussing how they can leverage clean energy solutions with environmental protections a key issue due to climate change pressures.

Mining companies and the government have spent the better part of this year’s event discussing the hydrogen economy, which is a cleaner energy source as the flammable gas emits no carbon dioxide when it burn unlike fossil fuels.

The council’s Roger Baxter told delegates at the indaba that the hydrogen economy would also assist with energy security, which would ultimately bolster the economy.

During his address, President Cyril Ramaphosa reminded the mining companies about the need to adapt to new circumstances and seize new opportunities pointing to climate change and shifting market demands among others.

South Africa already produces 2% of global grey hydrogen through Sasol.