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Material flows of car related PGM

Dr. Christian Hagelüken, Umicore Precious Metals Refining

2nd Roundtable on the Sustainable Production & use of Platinum Group Metals Brussels, Dec. 12, 2007

The global annual mine production for PGMs fits into a 15 m² room (31m³)

density: 10.5 t/m³

Pt+Pd+Rh+Ru+Ir

(15.1)

Ag

20 000 t/a

|12.3 m -|

19.3

PGM

500 t/a |3.2 m |

Au

2500 t/a

|- 5.1 m -|

PGM = Platinum Group Metals

density: 12.0 t/m³ 21.5

Mine production PGM: > 85% South Africa & Russia ore grade < 10 g/t value: 14 billion $ (at 2006-prices) 9 billion $ (at 2005-prices)

12.4 12.5

Pd

230 t/a

(17.9 m³)

Pt

210 t/a

(9,5 m³)

Rh

25 t/a

-| |- 1,25 m -|

Ru

40 t/a

|-1,50 m -|

22.7

Ir

4 t/a

|0,55 | m

|-

2,6 m

-|

|-

2,2 m

85% of all PGMs ever mined were extracted after 1980!

$/g 2006 2005 2004 2003 Pd 10,29 6,46 7,39 6,43 Pt Rh 36,75 146,13 28,84 66,01 27,20 31,51 22,22 17,04 Ru 6,16 2,38 2,06 1,13 Ir 11,22 5,43 5,98 2,99 M$ 2006 2005 2004 2003 Pd 2366 1486 1701 1479 Pt 7717 6056 5712 4665 Rh 3653 1650 788 426 Ru 185 71 62 34 Ir 45 22 24 12 total M $ 13966 9286 8286 6616

Christian Hagelüken, 12.12.2007

2nd PGM-roundtable: Material flows of car related PGM

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PGM demand 2007 worldwide ­ autocatalyst > 50% of net demand

Platinum autocatalyst jewellery chemical+petroleum investment others total demand*

t/a %

104 50 20 2 40 215

48 23 9 1 18

Palladium autocatalyst jewellery electronics dental others total demand*

t/a

%

107 23 34 19 22 205

52 11 17 9 11

Rhodium autocatalyst chemical others total demand*

* net demand

t/a

%

21 2 2 25

84 7 9

total PGM for autocat (net) =

total demand* Pt+Pt+Rh: 446

232 52%

= gross demand - recycling

Pt autocat

Numbers based on JM 2007

others

Pd

Rh

others

others

dental electro nics jewellery

chemical

chemical jewellery

autocat autocat

Christian Hagelüken, 12.12.2007

2nd PGM-roundtable: Material flows of car related PGM

3

There are more precious metals in automotive applications

global annual gross demand in t* ! Catalysts & DPF - Sensors & spark plugs - Electronics total automotive total mine supply* % of mine supply

catalyst recycling in t/a* % catalyst demand covered by recycling

*2007, Based on JM & GFMS figures

Pt 131,7 5 136,7 207,2 66%

28 20%

Pd 136,2 X >129 230 >56%

29,4 23%

Rh 26,8

Ir (x) X 1 4 25%

Au

Ag

26,8 25 107%

6 21%

X ? 2.500

X ? 20.000

DPF= Diesel Particulate Filter

Automotive is most important segment for Platinum Group Metals (PGM). Recycling only takes place for car catalysts, but hardly for sensors/spark plugs or car electronics

Christian Hagelüken, 12.12.2007 2nd PGM-roundtable: Material flows of car related PGM

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Autocat is main driver for PGMs since 1990s

­ Europe: 27% of total demand & 33% of autocat

300

t a-1

250 200 150 100 50 0

350

*net demand

PGM/ t a-1

gross demand

Pd

jewellery others electronics dental chemical autocat net

300 250 200 150 100 50 0

Rh

global

Pd

Pt

1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006

Others Petroleum Jewellery Investment Glas

*net-demand

250

1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006

t a-1

200

Pt

120 100 80 60 40

PGM/ t a-1

Rh

150

Electronics Chemical Autocat.-net

Europe

Pd

100

50

20 0

Pt

1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006

0

1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006

Christian Hagelüken, 12.12.2007

2nd PGM-roundtable: Material flows of car related PGM

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Autocat demand & technology impact PGM prices ­ which impact catalyst costs ...

$ tro z -1 P t/ P d : L o n d o n fixin g , R h :J M -b a s e

M

1 0 0 0

P a lla d iu m

2 6 .0 1 .0 1 : $ 1 0 9 4 tro z -1

8 0 0

6 0 0

4 0 0

2 0 0

0

8 1

8 2

8 3

8 4

8 5

8 6

8 7

8 8

8 9

9 0

9 1

9 2

9 3

9 4 M

9 5

9 6

9 7

9 8

9 9

0 0

0 1

0 2

0 3

0 4

0 5

0 6

0 7

0 8

1400 1200 1000 800 600 400 200

81 82 83 84

P la tin u m

85

86

87

88

6000 4000 2000 0

89

90

91

92

93

94

95

96

97

98

M

99

00

01

02

03

04

05

06

07

08

PGM

tro z = 3 1 0 3 5 g value1autocat.1(2006) /kg

R h o d iu m

1 1 .5 .0 7 $ 6 3 5 0 tro z -1

$ 10 Europe: 3.6 0 /tro z = US-$5 billion $ 3 2 1 World: 10.3 billion US-$

Christian Hagelüken, 12.12.2007

90

91

92

93

94

95

96

97

98

99

00

01

02

03

04

05

06

07

08

2nd PGM-roundtable: Material flows of car related PGM

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Autocatalysts ­ an above ground PGM-stock to be mined with a 10-15 years delay

Annual PGM gross demand for autocat

350 300 250 200 150 100 50 0

120 100 80 60 40 20 0

1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006

PGM/ t a-1

1980-2007: Input Recycling Rh 356 t - 43 t Pd 1776 t - 176 t Pt 1640 t - 285 t 3772 t ­ 504 t

global

Rh Pd

Main catalysts recycled today are from the early 1990's.

How much of the later increase will become available for recycling ? What needs to be done to secure these resources ? Global / Europe 1000 M$* cumulative demand 3770 t / 1170 t 130 recycling until 2007 500 t / 80 t 15 still ,,on the road" 2300 t / 900 t 80 losses 1000 t / 200 t ? 35 CO2 primary equivalent: 30 Mt for still "on the road" 13 Mt for losses

*global at 2006 prices

Pt

1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006

1980-2007: Input Recycling Rh 91 t - 14 t Pd 499 t - 30 t Pt 581 t - 38 t 1171 t - 82 t

Europe

Rh Pd

Pt

2007 M$ cum Mt CO2 Mt CO2 cum 18.275 1,3 16,7 Pd 60.270 1,8 22,9 Pt 52.022 0,8 10,9 Rh 130.567 3,9 50,4

Christian Hagelüken, 12.12.2007

2nd PGM-roundtable: Material flows of car related PGM

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Recycling chain for autocatalysts PGM-refining takes place at the very end

Sources for spent catalysts

Ca. 1.000 dismantlers + 60.000 workshops from end-of-live vehicles (ELV) from cat exchange (workshops)

r

< 100 catalyst collectors (incl. subcollectors)

Collection logistic

< 10 smelters/refiners globally (1 fully integrated in Europe)

Smelting PGM-Refining

ca

numbers for Germany

t-c e

ra m

< 10 decanners

Decanning

Refined metals are chemically/physically identical with metals from mining (no "downcycling") The same recycling chain could also be used for car electronics

8

PGM-conc.

Christian Hagelüken, 12.12.2007

2nd PGM-roundtable: Material flows of car related PGM

ic

ca t

-c on ve rte

Example for "high-tech" metals recovery - Umicore's Hoboken plant near Antwerp

· Unique flowsheet, focus on secondary materials · Recovering 17 metals:

Au, Ag, Pd, Pt, Rh, Ir, Ru, Cu, Pb, Ni, Sn, Bi, Se, Te, Sb, As, In

· Annual PGM-output > 30 t 7% of world mine prod. · Wide range of complex precious metals bearing feed materials · Market leader (EU) for car catalysts & circuit boards · Global customer base · Minimizing waste · World class environmental standards (BAT)

Christian Hagelüken, 12.12.2007 2nd PGM-roundtable: Material flows of car related PGM

t/P P

d

eld yi

8% 9

9

Recycling reality for autocatalysts: 50% PGMlosses globally with Europe even worse

Material flows of PGM`s from autocatalysts in Germany 2001

De-registrations of catalyst-cars

41 %

Dismantler

33 %

Collector

Decanner

31 % 30 %

Refiner

Recovered PGM

29 %

4%

Used cars

Loss 1-2%

Loss 1-2%

Loss 1%

Loss 4% Shredder

57%

Unidentified outflows (exports etc.)

A substantial part of cars are exported into regions without an adequate recycling infrastructure and awareness, which leads finally to real losses of the PGM`s

2%

Stolen vehicles

All %-numbers refer to 100% PGM-input into catalyst cars

ELV monitoring 2004, D · 3,1 Mio car de-registrations · 1,2 Mio out of these collected/first treated in D · 540 000 only final treatment in D

- yellow: outflow from system boundary (e.g. export of ELV); recycling abroad or re-import of catalyst is theoretically possible

Christian Hagelüken, 12.12.2007

2nd PGM-roundtable: Material flows of car related PGM

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The challenge of "open cycles" - recycling from consumer durables

Coated monolith Cat. converter car

PGMcomponent

PGM -salt

assembly

Endproduct

User 1

final user n Losses / System outflows for product

PGMprecursor

Production scrap

Change of PGM component

PGMRefining

Return point/ Collection

Car dismantler

Decanning

Inherently inefficient, PGM recycling rate < 50% for entire lifecycle

Conditioning E.g. car catalysts, PM in electronics, (dental)

Component collection

(possibly multistep)

Dismantling

(possibly multistep) No removal of PGM component

Losses / System outflows (component / PGM's)

· Multiple changes of ownership, no connection between final owner and manufacturer · High product mobility & long life time, no defined EOL, reuse in other regions than 1st use · Intransparent material flows, "informal" participants in early "recycling" stages · High exports of old cars, computers etc. to less developed countries with poor recycling infrastructure/awareness · Highly complex structures with numerous opportunities for failure of metals-recovery

Christian Hagelüken, 12.12.2007 2nd PGM-roundtable: Material flows of car related PGM

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The European autocat lifecycle - what steps can be influenced by whom?

impact area

<<5%

car industry legislation

business ethics*

PGM mining

ar on c t-/ cti ca du o pr

1st user

"2

dis EL m V an tlin g

se "u nd r

"ELV" export

M PG ning fi re

c at decan ning

last user

<< 5%

> % 40

cat n llectio co

5-15%

Christian Hagelüken, 12.12.2007 2nd PGM-roundtable: Material flows of car related PGM

*authorities, recycling & car industry to fight criminal activities

12

There is much more in cars than PGM

other metals contained (in kg/vehicle)* built (Europe): 1990 2004 weight/vehicle 900kg 1350kg · Cu · Al · Pb 1.2%: 8%: 1%: 11kg 16kg 70kg 120kg 9kg 13kg

· Steel 65%: 590kg 870kg · + Zn, Sn, Cr, special metals · + Ag, Au, Pd in car-electronics · + Pt, Ir in spark plugs & sensors

built 1990 deregistered in 2006 2004 deregistered in 2020

*source: Daniel Goldmann, VW Sicon

Christian Hagelüken, 12.12.2007 2nd PGM-roundtable: Material flows of car related PGM

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PGM recycling has significant benefits ...

... which can be of vital interest for the car industry

· less environmental burden to ,,mine the catalyst" (factor 5 in CO2 impact)

150t

1kg PGM is contained in ...

2t 0,5t

catalyst ceramic

· huge intrinsic PGM value that can be recovered (> 50 billion US-$) · improved supply security · Relief of supply / demand balance mitigates price increase and volatility

Mine ore

cat-converter

Car companies can establish internal collection systems for catalysts from contract workshops weight account model with catalyst recycler/producer, recovered PGMs can be used for fresh catalysts Car companies should support an effective recycling of ELV-cars & catalysts in their own interest. ELV-exports out of Europe reduce the supply base for recycling PGMs and other metals significantly. They indirectly contribute to tightness of supply and rising metal prices. A company which follows a sustainable business approach must not ignore the effects of current ELV-exports (image risk)

Christian Hagelüken, 12.12.2007 2nd PGM-roundtable: Material flows of car related PGM

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The report

Some books for more info:

,,Autoabgaskatalysatoren" (2nd ed.)

· Expert Verlag, Kontakt & Studium · ISBN 3-8169-2488-3 · 400 S, 56

"Stoffströme der Platingruppenmetalle"

· · · GDMB Medienverlag, Clausthal Zellerfeld 2005 ISBN 3-935797-20-6 234 S., über 70 Abbildungen und Tabellen, 45

" Materials Flow of PGMs in Germany"

· · · · English edition with intoduction by GFMS GFMS-Verlag, London 2005 ISBN 0-9543293-7-6 300 S., 100

2nd PGM-roundtable: Material flows of car related PGM

Christian Hagelüken, 12.12.2007

15

Christian Hagelüken, 12.12.2007

Thank you for your attention

2nd PGM-roundtable: Material flows of car related PGM

Umicore Precious Metals Refining [email protected] 16 www.preciousmetals.umicore.com

Questions ?

Christian Hagelüken, 12.12.2007

2nd PGM-roundtable: Material flows of car related PGM

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Annex

Historic milestones in Pt & Pd applications and corresponding price development

1200

US-$/troz

Fuel Cells?

Pt

Pd

annual averages until 2006-08

-> 1989 Pt in PC-harddisks 1995-2001 Pd-dominated autocat -> 1985: -> 2000 autocat. Europe Europe Diesel -> mid 1990`s boom Pt- jewellery China 1988: high Ptinvestment Japan

1000

Industrial demand Consumer demand Jewellery & investment

-> 1975 autocat. US

800

600

1900: Pd/C-cat. (fine chemistry) -> 1920`s Pt-catalyst nitric acid

400

-> late 1960`s Pt- jewellery Japan Mid 1950`s Pt-reforming cat. -> 1985 Pd in MLCC -> 2004 Pdjewellery China -> mid 1980`s: Pt for LCD glass

200

1900-1930 Pt-cat. H2SO4

0

1900 1910 1920 1930 1940 1950 1960 1970

Christian Hagelüken, 12.12.2007 2nd PGM-roundtable: Material flows of car related PGM

1980

1990

2000

19

The upstream recycling chain - a market partially beyond industrial control

Sometimes ,,normal" practices in autocat recycling:

· Why could assay skimming be attractive? 10 t/a spent autocatalyst at

(0.12% Pt, 0.08% Pd, 0.03% Rh 0.23%)

Fake converters sold into telquel market (with unloaded 12 kg Pt + 8 kg Pd + 3 kg Rh = bricks, cement filling, iron, ...) 1.2 Mio $* intrinsic value · Leaching of PGMs from converters/ceramics with A manipulation of 3% (0.223% vs 0.23% subsequent sale of leached ceramic to market at "normal" cat-prices PGM) means a fraud of 36 k$ !. This already reaches the magnitude of · Selling of used converters as spare parts refining charges of 40 k$. · Backdooring of low value converters against too high telquel prices to less educated market participants A company could almost · Tax-free cash purchase offer treatment free of charge and take the profit · Money laundering (one of the reasons for overpricing ?) on assay skimming. · Hidden deals/bribing of contract partners · Assay skimmings: manipulation of weights, moisture often it's even more than 3% ... content, biased samples, false report of analytical *at Pt=1400 $, Pd = 350 $; Rh = 6000 $/troz results, .... · Theft:...of new catalysts from cars on a parking lot or a These malicious practices create manufacturer's plant, EOL-converters from a heavily distorted playing field for collectors/decanners, ... Concealment of stolen those who strictly follow ethical catalysts - it seems not to be difficult to feedback these materials into the recycling chain. business standards. · Interpol listed criminals temporarily dominating local markets and always finding2nd PGM-roundtable: Material flows of car related PGM a ,,refining" outlet. Christian Hagelüken, 12.12.2007 20

Pt Pd Rh g/kg $/kg

1,2 0,80 0,30 54,0 9,0 57,9

Summe 2,30 120,89

PGM-prices $/troz

31,1035

$/g

10

1400 350 45,011 11,253

6000 192,9

lot size

1.208.867 2,28 2,25 2,23 2,21 2,19

assay bias

1% 2% 3% 4% 5%

12.089 24.177 36.266 48.355 60.443

Low probability for future PGM-recycling from many export cars

Europe: ca. 1/3 of ELVs are exported

(ACEA 2004) · exports mainly to Eastern Europe · exports mainly to Eastern Europe (& beyond) & Africa (& beyond) & Africa · in most of these countries no emission · in most of these countries no emission legislation /-control in place legislation /-control in place · insufficient car maintenance, bad road · insufficient car maintenance, bad road conditions conditions · high probability for destruction of catalyst · high probability for destruction of catalyst emission of ceramic/PGMs emission of ceramic/PGMs

(misfire, bumps on converter ...) (misfire, bumps on converter ...)

· Usually high vehicle lifetime, catalyst has · Usually high vehicle lifetime, catalyst has rather no significance (as long as car is still rather no significance (as long as car is still driving) driving) · insufficient recycling infrastructur, missing · insufficient recycling infrastructur, missing awareness for catalyst recycling awareness for catalyst recycling · difficult logistical frame conditions · difficult logistical frame conditions

Christian Hagelüken, 12.12.2007 2nd PGM-roundtable: Material flows of car related PGM

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PGM availability ­ sufficient reserves* at even higher resources**

Known PGM-Reserves, being minable economically in theory at 1997 price levels

Tons 30.000 25.000 20.000 15.000 10.000

Others North-America Russia South Africa

* Multiple Total Consumption 2005

130 *

5.000 0

114 *

119 *

USD/g 1997 2007* Pt 12,73 40,41 Rhodium Pd 5,72 11,41 Rh 9,58 195,12

* Jan-Sept.

Platinum

Palladium

* Could be economically extracted at a given price level **known or assumed PGM content in ore deposits

Christian Hagelüken, 12.12.2007 2nd PGM-roundtable: Material flows of car related PGM

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Different dimensions of resource scarcity

Absolute resource scarcity: depletion of geological resources that can be

extracted even at higher prices

Relative resource scarcity: supply can (temporarily) not follow an increasing demand

· Time lag & investment risk for new mines and smelters · Political unrest, war, natural disasters, ...

Structural resource scarcity: constraints from "coupled production" of ,,minor

metals" (Rh, Ru, Ir, ... In, Bi, Se, Te ...) with ,,major metals" (Pt, Ni, Cu, Zn, Pb, ...)

Continuous degradation of the natural resource base

· Declining ore grades · More difficult mining conditions (mine depth, geographical location, political frame conditions, ...) · Number of deposits/mines & their global distribution increasing costs, energy demand, environmental burden, ... impact on biosphere (rain forest, Antarctic, ocean mining, ...) regional dependences ­ ,,battle for resources" ?

Christian Hagelüken, 12.12.2007 2nd PGM-roundtable: Material flows of car related PGM

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The Umicore recycling loop for automotive companies

PGM-credit on customer weight account

coating of fresh catalysts with PGM at Umicore

recycling of PGM of spent catalysts at Umicore

catalyst manufacturing e.g. by the automotive industry

spent catalysts to Umicore

collection of spent catalysts/scrap

Christian Hagelüken, 12.12.2007

2nd PGM-roundtable: Material flows of car related PGM

24

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