Tips for selecting the best precious metal refining services

by Sarvesh Velankar Asst. Marketing

Precious metals are always in demand for their rarity and unique properties like conductivity, flexibility, higher melting point, etc. They are essential resources used in making electric circuit boards, connectors, automobile converters, etc. However, their usage does not end once these parts wear off as they are recyclable. You get to recover them from industrial scraps to get the maximum value.

So, retain the spent catalysts and scraps containing gold, silver, platinum, and other metals. Once you have accumulated enough, reach out to a metal refinery. They are the experts who work on refining and recycling maximum extracts from such scraps. They use a series of physical and chemical hydrometallurgical processes for the same. But before selecting a refinery, check for these aspects to get the best services:

In-house laboratory

When the refinery outsources lab tests and other crucial parts of the process, it has less control over the quality. Moreover, it leads to increased processing time which results in higher charges. By having it on-site, refiners reduce the extra costs. They get to receive, evaluate, and process your material within a few business days.

Besides, there is no chance of loss during transition. Hence, ensure to check for such in-house arrangements with world-class facilities.

Latest technology

The technology used makes a world of difference in getting the maximum returns. The precious metal refining services with advanced facilities provide 99.95% purity to meet international standards. The classic fire assay method gets used for doing this. It separates precious metals like gold and silver from scraps through fusion.

Other metals like platinum, palladium, and low-grade materials go through the process called ICP spectrometry. These tests are only possible with the latest technology that gives unbiased results.

Weight verification

The precious metal refining companies perform a series of steps before starting the recovery process. This involves analysing your material, sampling, and conducting analytical tests. This way, they get an idea about the precious metals recoverable to start the process. After concluding, they provide a report stating the weight, precious metal contents, and service price. Make sure the company you approach provides this information.

Regulation compliance

If a refining company mishandles your material, you become equally responsible for it. Therefore, check its ethical, moral, and social responsibility. It should comply with all the applicable rules and laws governing the operations. This way, you protect yourself from any regulatory actions.

Turnaround time

The length of precious metal refining depends on the material type. Also, the intricacy of the spent catalyst and its properties plays a role. High-grade metals like gold and silver get processed in a week. Other lower grade materials take longer. A quicker turnaround time is ideal. However, it should not compromise with the returns. Hence, understand the processes and the reason for faster results.

The other facets are directly related to the years of operations. An experienced refinery is more likely to provide better results.