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On February 11, BASF announced the establishment of a 50-50 joint venture with Heraeus in China to recover precious metals from spent catalysts
.
The new company will be named BASF Heraeus (China) Metal Resources Co.
, Ltd.
and will be established in Pinghu City, China
.
The legal entity will be established in early 2022, subject to approval from the relevant authorities
Platinum group precious metals (PGMs), which mainly include platinum, palladium and rhodium, have limited natural resources in China and are heavily dependent on imports
.
A circular economy can be achieved by recycling scrap materials, such as scrap automotive catalytic converters, to recover platinum group metals