Smelting and refining optionality

SFA leverages its in-depth understanding of PGM processing to create a unique supply-focused market intelligence report for the Northern Hemisphere covering the following key areas:

Mapping of the copper, nickel and PGM smelters and refineries to identify spare processing capacity:

• Smelting design capacity, utilisation rates and transport links. 

• Outside customers, favourable and unfavourable concentrate characteristics.

• Base metals refining (BMR) design capacity, utilisation rates and transport links.

• Precious metals refining (PMR) capacity, utilisation rates and transport links.
  
  

Analysis of regional material flows in North America, Russia and Europe from concentrate to PGM metals including by-products and secondary supply sources:

• Geographic location (proximity to road, rail and ports, base material refinery and sources of feedstock).

• Current Transatlantic PGM process flow, capacity and utilisation rates.

• Spent autocatalyst trade flows.
  
  

Analysis of commercial terms:

• Typical terms and conditions of PGM concentrate sales/tolling.

• Typical penalty/tolling charges imposed by smelters based on concentrate characteristics and feed impurities.

• Comparisons are also made to the typical terms offered for concentrate sale/tolling in South Africa and forecast PLANT utilisation rates for the major producers smelting, BMR and PMR.
  
  

Key characteristics of each smelter/refinery:

• Typical characteristics in nickel and copper sulphides and what differentiates the South Africa producers in terms of precious metals refining.

• PGM waste and recycle streams.

• High-level processing flow sheets of major smelting and refining operations in the Northern Hemisphere.
  
  

Distinctive PMR characteristics in terms of PGM metal quality from a customer's perspective:

• South African majors

• Leading fabricators

Who should read this report?

• Conglomerates, fabricators and PGM project juniors seeking to understand the range of processing options available to them to help secure further financing and secure future commercial relationships with leading players.

• New business entrants that require business strategy, investment timing, long-term risks and opportunities, and an independent view of the Northern Hemisphere PGM processing market.

Live Q&A with the analysts

• Our Northern Hemisphere PGM report is supported by a video call, most often hosted through MS Teams, which is led by Beresford Clarke, our metallurgical consultants, and our team of expert PGM analysts to highlight the key processing aspects and address any further questions you may have.