Heraeus Acquires Canadian Recycling Company McCol Metals to Boost Precious Metals Expertise

Heraeus has announced the acquisition of McCol Metals, a Canadian company specializing in the recovery of iridium from spent mixed metal oxide electrodes. The acquisition aims to enhance Heraeus' capabilities in precious metals recycling. McCol Metals, based in St. John's, Newfoundland and Labrador, will now operate under Heraeus Precious Metals, the precious metals division of the Heraeus Group.

The acquisition aligns with Heraeus' goal of maintaining precious metals within the economic cycle, supporting both companies' growth and innovation. Marius Vigener, Executive Vice President at Heraeus Precious Metals, emphasized the strategic fit of McCol Metals, noting that the acquisition will bolster Heraeus' leadership in precious metals recycling. Darrell Coombs, Vice-President at McCol Metals, expressed enthusiasm for the partnership, highlighting the potential for synergies and enhanced sustainability in the global precious metals market.

McCol Metals has developed advanced technology for recovering iridium, a crucial material used in electrochemical processes, including the production of chlorine, copper foils for batteries, water treatment, and electro-winning. This innovative recycling process supports the sustainable use of iridium, a metal essential for the green hydrogen economy due to its temperature resistance, conductivity, and catalytic properties.

Previously owned by Eastern Composite Services (ECS), McCol Metals has built a strong relationship with Heraeus over the years. Andrew Colford, CEO at ECS, praised Heraeus as the ideal partner to drive McCol Metals' future development.

The acquisition underscores Heraeus' commitment to sustainability, aiming for CO2-neutral operations by 2025 and the elimination of fossil fuel use by 2033. By integrating McCol Metals' recycling technology, Heraeus is advancing its goal of keeping valuable precious metals in circulation, minimizing environmental impact, and reducing costs associated with new tooling.