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Metal Recycling

Elemental Holding enters partnership with Mitsubishi for platinum group metals recycling

Global law firm White & Case LLP has advised Elemental Holding SA on its strategic partnership with Mitsubishi Corporation for platinum group metals (PGM) recycling, covering Elemental’s global operations from collection to refined metal.

The terms of the strategic partnership include Mitsubishi providing a trade finance working capital facility to help ramp up Elemental’s PGM smelter and refinery to full production. Mitsubishi will also make an equity investment in Elemental’s operating subsidiary in the U.S.

The strategic partnership will combine Elemental’s and Mitsubishi’s expertise and resources in the collection and pre-processing of spent automotive catalytic converters and the smelting, refining and marketing of refined PGMs. The organizations will work together to scale and grow Elemental’s global PGM recycling business.

In addition, Elemental, which operates an urban mining business focused on recovering strategic metals from various sources of recycled metals, will launch an integrated PGM smelter and refinery in Southern Poland, which will use 100 percent recycled feedstock. Through Elemental’s integrated PGM recycling production chain, the Elemental-Mitsubishi partnership aims to deliver the greenest and most sustainable PGMs in the world to its customers.

This transaction is subject to customary conditions and is expected to close in early 2024.

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