Joint venture established to recover precious metals from catalytic converters.
The chemical group BASF and Heraeus, which specializes in precious metals, among other things, have agreed to establish a joint venture for the recycling of automotive catalytic converters in China. The aim is to recover the precious metals contained, such as platinum, palladium and rhodium, according to a joint press release. Demand for the platinum group metals in China is growing steadily, but at the same time the country’s own supplies are limited and it is dependent on imports.
In addition to securing the supply of raw materials, recycling could also reduce emissions of climate-damaging gases such as carbon dioxide (CO2). Compared to primary metals mined in mines, the CO2 footprint of recycled precious metal is up to 90 percent lower, the companies said.
Construction of the recycling plant in Pinghu, eastern China, is still scheduled to start in 2022, and it is expected to go into operation in 2023.