27.9 C
Supported byspot_img

Heraeus acquires McCol Metals to enhance precious metals recycling

Member of Europium Groupspot_img
Supported byspot_img

German technology group Heraeus has completed the acquisition of McCol Metals, a Canadian company specializing in recycling precious metals, particularly iridium. This acquisition includes McCol Metals’ facility located in St. John’s, Newfoundland and Labrador, which will now operate under Heraeus Precious Metals, the group’s division dedicated to precious metals.

Marius Vigener, Executive Vice President of Heraeus Precious Metals, highlighted that this acquisition strengthens Heraeus’ capabilities in precious metals recycling. McCol Metals specializes in recovering precious metals from spent mixed metal oxide electrodes, primarily used as anodes in electrochemical processes like copper foil production for batteries.

Growing importance in hydrogen production

Iridium, known for its extreme rarity and high corrosion resistance (rarer than gold or platinum), plays a crucial role in various industries, including electrical, electrochemical and automotive sectors. Its demand surged in early 2021, leading to record-high prices due to supply shortages and increased usage, particularly as an electrolyzer in hydrogen production, storage, and transport.

Supported by

Strategic move into raw material recycling

This acquisition marks Heraeus’ strategic expansion into raw material recycling. Recently, the group also launched Europe’s largest recycling plant for rare earth magnets under its Heraeus Remloy division. These magnets are vital components in wind turbines and electric vehicles, among other applications. Heraeus estimates that recycling spent magnets could meet over 30% of Europe’s rare earth demand.

The move underscores Heraeus’ commitment to sustainable practices and enhancing its position in critical materials recycling, addressing supply chain resilience and environmental considerations in high-demand sectors.

Supported byElevatePR Digital

Related News

Coal India expands into graphite mining with new license

Coal India Limited (CIL) is diversifying its operations beyond coal for the first time by entering the graphite mining sector. The Ministry of Mines...

Latin America’s chance to redefine mining and drive the global energy transition

Latin America's tumultuous relationship with mining dates back to the conquistadors' plundering of gold and silver for the Spanish crown. Following independence, the arrival...

U.S. faces critical mineral supply challenges: Urgent policy reforms required for energy security

The global shift towards electrified economies is redefining energy security, as the demand for essential metals like lithium, graphite, copper and rare earth minerals...

Cornish Metals finalizes $4.5 million royalty sale to focus on South Crofty tin project in UK

Cornish Metals Inc., a mineral exploration and development company focused on its 100% owned and permitted South Crofty tin project in Cornwall, UK, has...
Supported by
Supported by
Supported by
error: Content is protected !!