BASF, Heraeus to form joint venture
BASF, Heraeus to form joint venture
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German companies BASF and Heraeus have agreed to form a joint venture to recover precious metals from spent automotive catalysts in Pinghu, China. The companies will have an equal ownership stake in the new company, BASF Heraeus (China) Metal Resource Co. Ltd. The founding of the legal entity is targeted for the first quarter of this year, following the approval of the relevant authorities. Construction is planned to begin in 2022, with operations starting in 2023, according to a joint press release.
China has limited natural resources in platinum group metals (PGMs), consisting predominately of platinum, palladium and rhodium, and strongly relies on imports. Recycling scrap materials, such as those recovered from spent automotive catalytic converters, enable a circular economy. Recycled precious metals are furthermore very environmentally friendly and have as much as a 90 percent lower CO2 footprint than primary metals from a mine.
“Through the partnership with Heraeus, we will bring best-in-class pyrometallurgy technology for the recovery of precious metals from spent automotive catalysts in China and help improve resource utilization for high-tech and other companies that use precious metals,” says Tim Ingle, vice president, BASF Precious Metals Refining, Chemicals & Battery Recycling. “BASF’s leading position in automotive catalysts recycling and our combined expertise in precious metals will provide customers with a world-class circular economy solution to re-use precious metals in China.”
Marius Vigener, vice president of Business Line Chemicals at Heraeus Precious Metals, says, “This JV builds on our already strong presence in China within the wet-chemical recycling industry. Recycled precious metals minimize emissions and will enable our customers to reduce their CO2 footprint. This will support China in the development of its circular economy and contribute significantly to the stability of local precious metal supplies.”
The new factory is expected to create 100 new jobs, BASF and Heraeus say.
BASF’s Catalysts division is the leading supplier of environmental and process catalysts, while Heraeus Precious Metals is a leading provider of precious metals services and products.
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Source: Recycling Today
BASF, Heraeus to form joint venture
<![CDATA[German companies BASF and Heraeus have agreed to form a joint venture to recover precious metals from spent automotive catalysts in Pinghu, China. The companies will have an equal ownership stake in the new company, BASF Heraeus (China) Metal Resource Co. Ltd. The founding of the legal entity is targeted for the first quarter of this year, following the approval of the relevant authorities. Construction is planned to begin in 2022, with operations starting in 2023, according to a joint press release.China has limited natural resources in platinum group metals (PGMs), consisting predominately of platinum, palladium and rhodium, and strongly relies on imports. Recycling scrap materials, such as those recovered from spent automotive catalytic converters, enable a circular economy. Recycled precious metals are furthermore very environmentally friendly and have as much as a 90 percent lower CO2 footprint than primary metals from a mine.“Through the partnership with Heraeus, we will bring best-in-class pyrometallurgy technology for the recovery of precious metals from spent automotive catalysts in China and help improve resource utilization for high-tech and other companies that use precious metals,” says Tim Ingle, vice president, BASF Precious Metals Refining, Chemicals & Battery Recycling. “BASF’s leading position in automotive catalysts recycling…