Page 29 from: Out now: issue 5!
PRECIOUS METALS
29recyclinginternational.com | September/October | 2019
Precious metals recycler Umicore has
struck a multi-year strategic supply
agreement with battery producer LG
Chem. The deal means Umicore will
provide NMC cathode materials to LG
Chem, sourced from its recycling
plants in Poland, South Korea and
China.
The supply agreement takes effect in
2020 and covers a total volume of 125
000 tonnes to be delivered over sev-
eral years. The companies are also
entering a technology licensing
arrangement covering fundamental IP
rights.
This partnership will help LG Chem
meet the growing demand for
rechargeable lithium-ion batteries.
More battery materials will be needed
as car manufacturers have started
producing longer-range electric vehi-
cles.
Umicore also recently acquired
Freeport Cobalt’s cobalt refining and
cathode precursor activities in
Kokkola, Finland. The US$ 150 million
(EUR 134 million) transaction is due to
be finalised by the end of the year.
The state-of-the-art Kokkola facility is
the largest cobalt refinery in Europe.
ouTlook For plaTinum
Global platinum demand is expected
to rise 9% in 2019 compared to 2018
levels, reports the World Platinum
Investment Council. This is likely to
result in a ‘slightly reduced surplus’ of
345 koz. Total supply is forecast to
increase by 4% over 2018 with
increases in both mining supply and
recycling.
Refined production is forecast to grow
by 5%, mostly due to the refining of
metal built up in the processing pipe-
line last year. Recycling is projected to
increase by 3% to 1,985 koz. This is
thanks to autocatalyst recycling grow-
ing 5% to 1,495 koz, which outweighs
a 5% decline in jewellery recycling to
485 koz.
Total automotive demand is forecast
to reach 3 015 koz in 2019. This is still
4% down on 2018 figures but an
improvement on the 6% fall on 2017.
Market analysts believe the market is
stabilising.
cauTion: TheFT!
The number of thefts of catalytic converters in
London jumped to 2 894 in the first six months of
this year. This a notable surge compared to 2018
with police recording ‘only’ 1 674 thefts through-
out the whole of that year. Scrap trading company
FJ Church and Sons says the likely reason for this is
that prices of certain precious metals have ‘sky-
rocketed’ in the last 18 months. For instance, palla-
dium is currently worth £ 1 300 (US$ 1 622) per
ounce, while rhodium fetches £ 4 000 (US$ 4 992)
per ounce.
www.umicore.com
Umicore
Precious Metals Refi ning
Respect is the key
to sustainable recycling
Our business model is based on respect towards our customers, their materials and the environment.
Customers know our system is transparent. It begins with a tailor-made sampling and assaying
process. This is the basis for maximum, reliable yields at optimized costs.
Because we believe in a sustainable future, we keep fi ne tuning our processes. We want to be
prepared for growing complexity. That way, our service will always be in sync with what our
customers need.
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