2 July, 2024 16:42:45 IST 
German diversified conglomerate, Heraeus, has bolstered its precious metals recycling portfolio with the acquisition of McCol Metals, a Canada-based company, is specialised in recovering iridium from spent mixed metal oxide electrodes.
Heraeus acquired 100% of the company, which will continue its operations in St. John’s, Newfoundland, Canada. The site will be operated by Heraeus Precious Metals, the precious metals division of the Heraeus Group. The company intends to accelerate McCol Metals’ growth and support their innovative approach with its own know-how.
“McCol Metals is a perfect fit for Heraeus Precious Metals. With this acquisition we are further expanding our leading competency in recycling precious metals,” said Mr. Marius Vigener, Executive Vice President at Heraeus Precious Metals.
Mr. Darrell Coombs, Vice-President at McCol Metals, said by leveraging Heraeus expertise and global network, McCol Metals can unlock unique synergies that will enhance its recovery and recycling solutions
McCol Metals has developed a state-of-the-art process to facilitate the recovery and recycling of the valuable precious metal iridium from spent mixed metal oxide (MMO) electrodes. MMO electrodes are used as anodes in electrochemical processes, for example in the production of chlorine, copper foils for batteries, water treatment and electro-winning. Iridium plays a vital role as conducting and catalysing layer that is applied on the electrodes to aid the necessary reactions.
Until the acquisition, McCol Metals has been owned by Eastern Composite Services (ECS), a Canadian provider of specialised industrial services for the mining, marine, and energy sectors.
Due to its temperature and corrosion resistance, its conductivity and its catalytic properties, iridium is in demand for a wide variety of industrial applications. For example, it is indispensable for the ramp-up of the green hydrogen economy. Given their limited availability, high value and the high CO2 emissions during extraction and processing, it is essential to keep precious metals such as iridium in the economic cycle and recover them from end-of-life materials.
