June 26, 2019 – Since the carbon footprint of recycling precious metals is much smaller than tapping natural reserves, the new age miner does not sport a pickaxe. It is more probable to chance upon somebody with a batch of used catalytic convertors or blown out microchips.
The challenge ahead is to test the sample size for concentration of precious metals like platinum, rhodium and palladium from a reliable testing source that is economically viable.
The good news is a breakthrough development by Scrap Metal Exchange (SMX) and its partners based in Sydney (Australia) who have introduced state of the art machinery to test recycling of precious metals.
The machinery uses Artificial Intelligence (AI) coupled with X-Ray Fluorescence (XRF) and Inductively Coupled Plasma (ICP) which gives it an edge for delivering higher analytical results. When compared to the traditional method of refining and assaying, this also translates into a huge saving of your time, money and resources.
Mathew John CEO PMR METALS PTE LTD /SMX: “We are super excited on the future of this space. In the last fifteen years in this industry I haven’t seen such a product/service that would benefit all stakeholders in the value chain so much, coupled with the fact that we are contributing to a greener earth and protecting the ecosystem and that gives us a lot of satisfaction and we are excited to be the first in this revolution.”
With the introduction of this technology, results are delivered within thirty minutes as opposed to a couple of weeks. For sellers, this translates into a quick turnaround for payments and for buyers assurance of quality.
Precious metals are a limited and diminishing resource. The way ahead is to recycle as it is ecologically sustainable. Now with SMX, an option to test sample size for quality comes closer to home for Australia with a similar facility in the pipeline for Asia in the days ahead in partnership with some leaders existing in the field soon to be publicly listed.
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