Processing and recycling group Heraeus Precious Metals has announced the acquisition of McCol Metals, a specialised company based in St. John’s, Newfoundland and Labrador, Canada.

The acquisition has seen Heraeus obtaining full ownership of McCol, underscoring its focus on expanding its capabilities in recycling precious metals.

McCol has carved out a niche in recovering iridium from spent mixed metal oxide electrodes using advanced recycling technology. These electrodes are used in electrochemical processes such as chlorine production, copper foil manufacturing for batteries, water treatment, and electro-winning. Iridium plays a vital role as a conducting and catalysing layer that is applied on the electrodes to aid the necessary reactions.

Heraeus executive VP Marius Vigener describes the acquisition of McCol as a “perfect fit” for Heraeus Precious Metals.

“This acquisition strengthens our leadership in precious metals recycling and aligns with our commitment to sustainability by keeping valuable materials in the economic loop.”

McCol VP Darrell Coombs echoed this sentiment, highlighting the partnership's potential to drive innovation and elevate service standards in the global precious metals market. "With Heraeus' expertise and global network, we are well-positioned to unlock synergies that will enhance our recycling solutions," Coombs remarked.

Prior to the acquisition, McCol Metals was under the ownership of Eastern Composite Services, a Newfoundland and Labrador-based provider of specialised industrial services.

Owing to its exceptional temperature and corrosion resistance, high conductivity, and catalytic properties, iridium is highly sought after for a diverse range of industrial applications. It plays a crucial role in advancing the green hydrogen economy, where its unique properties are indispensable. Given its scarcity, significant value, and the substantial CO₂ emissions associated with its extraction and processing, Heraeus believes it is imperative to maintain precious metals such as iridium within the economic cycle by recovering them from end-of-life materials.