5 Characteristics of a Strong Precious Metals Recovery Program
Change is the only constant for businesses and engineers involved in the manufacturing of new technology. Our world is evolving with new equipment and behind most are an array of elements such as printed circuit board assemblies and connectors. As these devices change, so do the inner-workings and the elements they’re made of.
Different metals including gold, silver, platinum and palladium can be retrieved from these devices however in general the newer the device, the lower the amount. Most rely on vendors to determine how much metal can be retrieved, but how can you be sure they’re maximizing the return of your devices? Are you provided custom solutions that have the capacity to extract value from those unique, yet challenging materials?
While there are several refineries who can manage basic processes, not all can offer solutions to unlock value from unique or complex materials.
Here are five characteristics of a strong precious metals recovery program that will help you get maximum recovery of the precious metals retained in your materials.
- Simple and Transparent
Transparency is important when it comes to refining operations and financial transactions. Make sure you’re able to witness your vendor’s weighing and sampling procedures. Also, try looking for a company with a simplified business approach and transparent settlements and customer transactions.
- Reliable and Trustworthy
A good precious metal recovery program should provide you with the comfort of being able to trust the refinery has your best interest in mind. Working with a diligent team who understands your needs specifically is important in ensuring a successful program. Try searching for a company who is publicly traded and/or that you know has policies in place regarding their business, and independent auditors.
Not every customer will need the same level of service. It’s important to have a custom-tailored precious metals recovery program to address your requirements specifically and ensure maximum value recovery.
- Certified and Compliant
Certificates and standards can provide you with guidance in understanding the effort a company puts into ensuring and maintaining a high-quality operation. Certifications for precious metals refineries may include,
- Responsible Recycling (R2) certification,
- ISO 14001 certification (environmental),
- ISO 9001 certification (quality), ITAR registration (for sensitive or proprietary materials),
- OHSAS 18001 certification (safety) and
- EPA and other essential operating permits.
When a refinery is managing material of value, it’s always advised to work with a vendor who can be flexible in how they return the value to their customers. Flexibility with financial settlements including refining terms, “per pound” purchases, pool accounts, transfers to fabricators or banks is always useful especially when you’re dealing with materials of concern.
It can take time to build trust within the industry, especially when dealing with high-value material. However finding the right vendor will help you create a smooth program and gain maximum recovery of the precious metals retained in your materials.
Learn more about precious metals recovery and refining.