Hindustan Platinum Exploring Imports of Used Catalysts from Middle East, Europe as Demand Surges in India

Precious metal refiner and manufacturer Hindustan Platinum is exploring potential of importing spent catalysts or used catalysts from the Middle East, Asian and European oil refineries to ensure long-term supplies of essential material for Indian industries.

According to the company's senior vice president for refining services Rajeev Mishra, imports of used catalysts will cater to the surging demand for precious metals amid massive industrial development in India.

"We will hold talks on buying spent catalysts from refiners in Belgium, Germany, Italy and Poland among others during our participation in the European Refining Technology Conference in Cannes in November," Mishra said on Thursday.

The conference in Cannes is scheduled for November 17 to 20.

"We must have a global network of suppliers to further refine the spent catalyst, extracting platinum, palladium, silver and other metals which are vital of our industries including electronics, electricals, textile, fibre, glass, nitric acid and jewellery," he told PTI on the sidelines of the Asian Refining Technology Conference held in conjunction with the Singapore International Energy Week.

During the Singapore energy week, held during October 27-31, Mishra and his team also held intensive talks with oil and petroleum refiners for procuring spent catalysts from Singapore, Malaysia, Indonesia, and Thailand, among others.

Hindustan Platinum's traditional suppliers are Indian refiners as well as major refinery operators in Saudi Arabia, Kuwait, Qatar, Oman and the United Arab Emirates.

Expanding into new product segments, Hindustan Platinum is also in the process of venturing into renewable energy, especially in solar power sector, he said, adding that plant related infrastructure development is ongoing as demand for precious metals has been rising from Indian industries.

"We are now at the peak of production of precious metals," said Mishra, adding platinum, palladium and silver capacities are being enhanced.

"There is no stopping of production processes," said Mishra.

He further said that the company would rope in the US-based refiners for sourcing spent catalysts during the International Precious Metal Institute Conference in the US in June next year.

Established in 1961, Hindustan Platinum refines and recovers platinum, palladium, silver, gold, rhodium, ruthenium and iridium for industries across more than 50 countries, supporting manufacturing of catalysts and salts for pharma, speciality and agri chemicals sectors.