Platinum is one of the key minerals South Africa should be looking to exploit, according to the African National Congress (ANC).

The country boasts about 88 per cent of the world's resources of the precious metal, which is used for catalysts in vehicle exhausts systems, jewellery and fuel cells.

Although Mineral Resources Minister Susan Shabangu has earmarked coal and uranium as priorities, the ANC's Joel Netshitenze has highlighted the importance the party is placing on platinum.

In an interview with Business Day, he claimed that the global fuel cell market will be worth R120 billion by 2025, with South Africa looking to take a 25 per cent share.

"Mr Netshitenzhe may have been joking when he suggested SA could be called Saudi Africa in the future as reliance on fossil fuels diminishes and platinum replaces oil as a key energy product," noted the news provider.

"But the ANC has firm intentions to play a big role in this sector one way or another."

The ANC has been the ruling party in South Africa since the establishment of non-racial democracy in the country in April 1994.

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Platinum energy will make SA 'Saudi Africa' (09/09/10)

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