Sustained Global Platinum Deficits Squeeze Industrial Manufacturing Procurement
Procurement teams must prepare for rising metal procurement costs as the global platinum supply deficit reaches 297,000 ounces.
Precious Metal Recycling
Material Recovery
Industrial recovery methods extract gold and platinum group metals from electronic waste and industrial scrap. The practice of precious metal recycling reduces the need for primary extraction from mines by returning high value elements to the manufacturing cycle. Recycled materials often have a higher concentration of the target metal than raw ore which makes the recovery process more efficient than traditional mining.
Specialized smelters use chemical baths and high heat to separate different alloys.
Secondary Supply
Refined metals from non-mining sources provide a stable flow of material to the jewelry and electronics industries. This secondary supply accounts for a large portion of the annual global demand for gold and palladium. It provides a hedge against disruptions at major mines because the source material is distributed across many urban centers.
Smelting Efficiency
Refining scrap requires significantly less energy than extracting metal from deep underground. During precious metal recycling, the carbon footprint of the resulting bar or wire is often much lower than its primary equivalent. This efficiency makes the sector attractive to companies looking to lower their indirect emissions.
Smelting scrap from automated sorting systems ensures that only high yield materials enter the furnace which optimizes the use of chemicals and energy.