Many sectors have the potential to decarbonize by utilizing hydrogen (H2). Industries such as refining, heavy-duty transportation and electricity generation are often mentioned in connection with H2 utilization; however, the mining sector also has the potential to decarbonize operations by using H2. According to a report from Guidehouse Insights, deliveries of H2-powered mining equipment are expected to increase from an estimated four units sold in 2024 to 401 units sold by 2033, representing a compound annual growth rate (CAGR) of 66.9%. Revenues over the same period are expected to reach $1.4 B by 2033 at a CAGR of 80.7%, with more rapid growth in revenues driven by a shift from the retrofitting of existing haulage vehicles to the supply of dedicated H2-powered equipment.1
H2 applications in the mining industry include fuel for heavy-duty vehicles (e.g., mining trucks, trains), electricity produced from H2 to power production processes (e.g., heat generation) and raw materials for necessary mining products (e.g., explosives). Several companies are developing these applications, particularly using H2 as fuel for mining trucks. For example, Anglo American partnered with ENGIE, Plug Power and Ballard Power Systems to develop a H2-powered mining haul truck.
According to the International Energy Agency (IEA), from 2017−2022, the global energy sector’s demand for lithium, cobalt and nickel increased significantly—global lithium demand tripled, and cobalt and nickel demand increased 70% and 40%, respectively. In 2022, the share of clean energy applications in total demand reached 56% for lithium, 40% for cobalt and 16% for nickel, up from 30%, 17% and 6%, respectively, compared to the 5 yr prior.2 This demand is forecast to drastically increase global greenhouse gas (GHG) emissions. The mining of lithium, cobalt and nickel account for 8.85 t of carbon dioxide equivalent (CO2e)/t of metal content.2 Each of these minerals will be utilized in the H2 sector, with nickel being the most critical (FIG. 1). H2T
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