The catalysts used in chemical, pharmaceutical and hydrocarbon processing are based on various precious metals such as palladium, rhodium, platinum, gold and rhenium. They must be recovered efficiently and promptly to ensure that the owner gets good return on his investment. Because of this, it is important to assess, choose and work with the right precious metal refiner. But there are many things to consider when choosing a refiner. They include ensuring that the company has the right tools and capabilities to offer high-yield recovery of precious metal. Here are other things to consider when choosing a precious metal refiner.
Returns on your Investment
Precious metal refiners depend on some pieces of equipment and techniques to recover platinum group metals (PGMs) from spent catalysts. They make use of various sampling methods to identify the amount of PGMs left in the catalysts. These methods include melt sampling, dry sampling and solution sampling. The most ideal method depends on the kind of catalyst material being processed and how much precious metal is in it.
In order to arrive at a settlement value for the precious metals in the material, the refiner will utilize some assaying techniques. Such techniques support the sampling methods to know the PGMs’ value in many materials.
After determining the value of PGMs in the material and getting agreements from all interested parties, the material will be refined. The refining often occurs in an electric arc furnace which produces molten and slag precious metals. The molten metals are poured into preheated graphite molds meant for the formation of ingots. And because the slag has trace amounts of the precious metals, it also has value. A refiner that has a solid financial background and a processing strength can recover PGMs efficiently and with high yield. Also, it can deliver the recovered PGMs’ value without delay.
A precious metal refiner must offer evidence of environmental responsibility. Whether you want platinum, palladium, silver and gold recovery, you must request a documentation that details the environmental track record of the refiner. Also, he can research the past compliance of the company with applicable environmental regulations.
In terms of the environment, both parties must take responsibility for what will occur before and after the refining process as well as when PGM-laden materials are being transported. Such joint responsibility makes it costly for PGM owner to handle legal fees and fines in case the refiner violates applicable environmental regulations.