The Recycling Entrepreneur Newsletter
 

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(C) Scott D. Andrews February, 2002

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In This Month's Issue...

1. What's happening in the Precious Metals Markets?

2. Book Review - "The Reclamation of Gold, Silver, & the Platinum Group Metals" by Thomas Cloud,
                             AuroTech , P.O. Box 7637, Austin , TX 78712

3. Coming This Friday - The Hidden Profits in Platinum

4. Platinum and the Platinum Group Metals - Part 2

5. Coming next month - Trading for Scrap - The Basics

Wrapup: The answer to last month's question

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*** Section 1 ***

Welcome to the February issue of The Recycling Entrepreneur, the monthly newsletter devoted to those interested in the subject of recycling for profit. Are you a new subscriber to this FREE publication?
If so, review the past issues in the Recycling Entrepreneur Newsletter Archives.

Howdy! Unless you're just emerging from a subterranean abode in the Tora Bora area, you are probably aware that the Winter Olympics are currently taking place in the Salt Lake City area.
Hope you're tuning in - the competition is electrifying as the athletes "Go For The Gold". I had the opportunity to dine at the Swiss Federation's Olympic House last Friday when their snowboarder (Schoch) took gold in the slalom.

He returned to the Swiss House immediately after the medals ceremony to mingle with his supporters and, believe me, we ALL became supporters instantly! Truly the opportunity of a lifetime.
Regardless, let's return to OUR "race for the gold". The metals markets seem to be reacting favorably (for us) to the negativity in the general economic climate. People are starting to realize that the ENRON situation is but the tip of the iceberg. With numerous major corporations declaring or readying to declare bankruptcy, the stock market is still grossly overvalued from a price:earnings standpoint.

I hope you are not one of the nearly million workers whose jobs have been downsized out of existence. If you are, now might be a good time to look at setting up an alternative source of income, such as a small business.
In the past thirty days, gold has broken through (although briefly) the $300 per ounce range. Silver has been equally volatile, though the time has not yet come for it to skyrocket, as it surely will.

NOW is the best time to get started in recycling, before you see these metals become even more valuable (and the competition becomes "World-Class").

This is where to go for up to the minute precious metals prices, as well as historical metals price charts

Remember, this ezine is designed to be support material for "The Recycler's Library". If you are not currently an owner of the manuals, please review the information our High-Profit Recycling site.

*** Section 2 ***

Book Review - "The Reclamation of Gold, Silver, & the Platinum Group Metals" by Thomas Cloud, AuroTech, P.O.Box 7637, Austin , TX 78712

This information-packed book (published in 1980) is a valuable reference for anyone involved in the recycling of or trading in precious metal waste products and scrap.

If you already have my manuals (if you haven't invested in them yet, Order NOW!), you are aware that I include detailed information on refining electronics and platinum reclamation from catalytic converters.

My purpose is twofold: I want to convince you that this is something you should not attempt to do, nor it is necessary to do to have a profitable business.

Secondly, I believe that the more you know about precious metals, the more confident you will be in dealing with sellers and, more importantly, buyers/refiners for your scrap. This book is essentially a cookbook procedural manual for learning to reclaim metals from scrap, or to refine relatively pure metals (e.g., karat gold and sterling silver) to commercially pure standards.
 
Included are techniques for reclamation of metals using amalgamation, dissolution, drossing, ion exchange, and electrolysis, as well as cyanidation. The refining processes include chlorination, cupellation, nitric acid and aqua regia, and electrolysis.

The author details equipment, chemicals, handling and safety requirements, sources of scrap (very superficially), and waste disposal. In my opinion, the most valuable information for the recycler is found in the Appendix
under where to sell and what to expect to get for your metals when you do. If this section doesn't convince you to NOT get into refining, read it again.

Bottom line: a very good, basic introduction to refining precious metals for the neophyte. Not imperative, but good knowledge to have in your arsenal when dealing in precious metals. If you want to experiment with refining this is a good source to work from.

Just remember Scott's First Rule of Successful Recycling: You can be a recycler, or you can be a refiner. I have yet to meet ANYONE who does BOTH successfully! Refining can be a great hobby - it is a
lousy business to be in.

*** Section 3 ***

Coming this Friday - I am finishing up a special report entitled "The Hidden Profits in Platinum". Very few people are aware of the TWO facets of platinum recycling which make it MUCH more attractive than trading in gold and silver. And, trust me, platinum buyers and refiners don't want you to know these "secrets"!

Check back Friday evening, 22 February, for this eye-opening, profit making recycling report.

*** Section 4 ***

Platinum and the platinum-group metals... The basics: Part 2 (From Johnson-Matthey & USGS)
The platinum-group metals (PGM) comprise six closely related metals: platinum, palladium, rhodium, ruthenium, iridium, and osmium, which commonly occur together in nature and are among the scarcest of the
metallic elements. Along with gold and silver, they are known as precious or noble metals. They occur as native alloys in placer deposits or, more commonly, in lode deposits associated with nickel and copper. Nearly all of the world's supply of these metals are extracted from lode deposits in four countries--the Republic of
South Africa, the U.S.S.R., Canada, and the United States.

The Republic of South Africa is the only country that produces all six PGM in substantial quantities.
PGM have become critical to industry because of their extraordinary physical and chemical properties--the most important of which is their catalytic activity.

Since the mid- 1970's and continuing today, automobile manufacturers have used catalytic converters
containing platinum, palladium, and rhodium to reduce automobile emissions. Similarly, the chemical and petroleum-refining industries have relied on PGM catalysts to produce a wide variety of chemicals and petroleum products.
 
Naturally occurring platinum and platinum-rich alloys have been known for a long time. The Spaniards named the metal "platina," or little silver, when they first encountered it in Colombia. They regarded platinum as an unwanted impurity in the silver they were mining.

The catalytic properties of the six platinum group metals (PGM) iridium, osmium, palladium, platinum, rhodium, and ruthenium are outstanding. Platinum's wear and tarnish resistance characteristics are well suited for making fine jewelry.

Other distinctive properties include resistance to chemical attack, excellent high-temperature characteristics, and stable electrical properties. All these properties have been exploited for industrial applications. Platinum,
platinum alloys, and iridium are used as crucible materials for the growth of single crystals, especially oxides.
The chemical industry uses a significant amount of either platinum or a platinum-rhodium alloy catalyst in the form of gauze to catalyze the partial oxidation of ammonia to yield nitric oxide, which is the raw material for fertilizers, explosives, and nitric acid. In recent years, a number of PGM have become important as catalysts in synthetic organic chemistry.

Ruthenium dioxide is used as coatings on dimensionally stable titanium anodes used in the production of chlorine and caustic. Platinum supported catalysts are used in the refining of crude oil, reforming, and other processes used in the production of high-octane gasoline and aromatic compounds for the petrochemical industry. Since 1979, the automotive industry has emerged as the principal consumer of PGM. Palladium, platinum, and rhodium have been used as oxidation catalyst in catalytic converters to treat automobile
exhaust emissions.

A wide range of PGM alloy compositions is used in low-voltage and low-energy contacts, thick- and thin-film circuits, thermocouples and furnace components, and electrodes.  This is the place to learn more details about the Platinum Group Metals or PGM's.
 

*** Section 5 ***

Next Month: Be sure to pay attention next month when I teach you the basics of trading for scrap metals - a valuable tool in your recycling arsenal of marketing techniques!

Also, rather than the usual book review, I will tell you exactly how I use the Internet to research little-known resources you won't find elsewhere.

P.S. - Last Month's Question - Just how rare are the Precious Metals?

Answer: My research tells me that if all the platinum produced in history were formed into a single cube, it would be less than 20 feet per side. If a cube were made of all the gold ever produced, it would be about 75 feet per side! I've not been able to find these figures for silver, but my sources state that the percentage of
gold in the Earth's crust (by weight) is 3.1 parts per billion for gold, and 80 ppb for silver!

Next month's question: When was silver MORE valuable than gold?