At the crossroads for Platinium Mining

At the crossroads for Platinium Mining

At the crossroads for Platinium Mining

Virtually all the platinum mines in the world are concentrated in Russia and South Africa, and, in the latter at least, there are indications of an uncertain future. Indeed, there are some experts in the field, including Harvard-trained geologist Byron King, a renowned authority on precious metal mining, who believe that recycling is the wave of the future for platinum, palladium and rhodium.

As resources diminish, mines are getting deeper, requiring heavier investment to develop and which, in a labor intensive industry, mean fresh air has to be continuously pumped down to cool the pit, a very energy consuming process. These higher costs combine with an, at best, static demand, leading to dwindling profitability and mine closures. Already, mining giant Anglo American is in the process of selling some of its South African platinum mines due to their limited profitability and the South African Government has expressed increasing concern about the state of mining and the loss of thousands of jobs in the sector.

It is, consequently, becoming increasingly apparent that removing the catalytic converter from a car's emission system produces a rate of return that rivals the production rates of the South African platinum giants. Vehicle production will continue to rise in the foreseeable future, fueled by demand from Asia, India, Russia, Africa and Latin America; thus the catalytic converter demand will rise in parallel, but the source of the precious metal requirement will change, with recycling becoming an increasingly important part of the mix.

 

Ecotrade, the leading recycler of catalytic converters in Asia, has invested heavily in the recovery technology to ensure optimum precious metals returns. Linked to an efficient, speedy logistics network, we are able to offer highly competitive prices for scrap cats anywhere in the world. If you want to know more about our operations and how we can help, please feel free to get in touch: sales@ecotradegroup.com.