One of the few North American companies collecting and refining platinum group metals, U.S. Platinum has moved its refinery from Golden to Denver, Colo.
Relocating and streamlining the refinery operation cost around $100,000. The first shipment of some 300 oz platinum group metals was made early in February.
The company expects to produce around 40,000 oz platinum in 1988, according to President John Kruzick.
U.S. Platinum recovers pgm from spent automotive catalytic converters and petroleum catalysts, Kruzic explains.
He adds that the company’s new hydrometallurgical refining technique has several advantages over the traditional refining processes. It is cleaner and recovery rates of pgm are up to 98%, resulting in low energy costs and little slag disposal. The recycling process also produces a saleable alumina by- product.
The company is negotiating a line of credit of up to $1 million to purchase a stockpile of catalyst.
U.S. Platinum was formed in July, 1987, as a result of a merger with Vancouver-based Strata Energy and Catalyst Resources of Denver. The refinery has been operating for four years.
Platinum is used in several high technology applications, including the U.S. space shuttle program, and in catalytic converters as pollution control devices in the automotive industry.
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