Elemental Holding SA and Mitsubishi Corporation have formed a strategic partnership on the recycling of platinum group metals (PGM), encompassing Elemental’s global operations from collection to refining and sale of purified metals.
With this announced cooperation, Elemental and Mitsubishi will combine their knowledge and resources regarding the collection and preliminary processing of used automotive catalysts, as well as the smelting, refining, and recycling of purified metal (PGM). The companies will work together on multiple levels, aiming to strengthen and develop Elemental’s world-leading PGM recycling activity.
In 2024, Elemental will launch an integrated PGM smelter/refinery in Zawiercie (Silesia Province) that will recover 100% recycled materials. This way, the Group will significantly contribute to enhancing the European Union’s critical raw material independence. By applying an integrated production chain in PGM recycling, the Elemental-Mitsubishi partnership will aim to deliver to customers platinum group metals produced in the most sustainable way.
As part of the strategic partnership, Mitsubishi will provide the financial means supporting the development of Elemental’s plant in achieving full production capacity. Mitsubishi will also make a capital investment in an Elemental subsidiary in the United States. The parties intend to develop their partnership through further cooperation in PGM and other metals.
“We are excited about forming a strategic partnership with Mitsubishi in our business associated with the recycling of platinum group metals. Mitsubishi is a leading PGM seller worldwide and will be able to add significant value to our business with their marketing knowledge, global network, business potential, and reputation,” says Paweł Jarski, CEO and founder of the Elemental Group. “After Elemental committed 290 million USD of equity in January 2023, we are delighted to add another top-tier partner to our unique business project in recycling. The close collaboration with Mitsubishi will enhance our capacity to increase the supply of critical raw materials from recycling both to the European Union and beyond.”
“The growing importance of the hydrogen economy and the global recognition of platinum group metals as critical elements significantly increase their importance. Mitsubishi is delighted to expand its partnership in the PGM recycling industry with Elemental, a highly regarded and skilled global supplier of recycled raw materials. Our goal is to jointly build a responsible and green supply chain of recycled purified platinum,” says Koichiro Takagi, Chief Operating Officer of the Mineral Resources Trading Division at Mitsubishi Corporation. “This partnership will also help us strengthen our supply chain and boost our ability to deliver eco-friendly PGM in response to the growing demand for these elements, including from the hydrogen economy sector. We see the now initiated cooperation as a potential step towards globally expanding our cooperation with Elemental in the recycling of other critical minerals, such as base metals and other metals used in modern battery cells.”
