Heraeus acquires McCol Metals

Heraeus, headquartered in Hanau, Germany, has acquired Canada-based McCol Metals and will continue its operations in St. John’s, Newfoundland. The site will be operated by Heraeus Precious Metals, the precious metals division of the Heraeus Group. The company says it intends to accelerate McCol Metals’ growth and support its innovative approach with its own know-how. 

“McCol Metals is a perfect fit for Heraeus Precious Metals," Heraeus Precious Metals Executive Vice President Marius Vigener says. "With this acquisition we are further expanding our leading competency in recycling precious metals. With McCol Metals’ innovative recycling technology we are following our ambition to keep as much precious metals in the loop as possible.”  

“We are excited to announce our partnership with Heraeus Precious Metals,” McCol Metals Vice President Darrell Coombs adds. “Leveraging their unparalleled expertise and extensive global network, we are poised to unlock unique synergies that will enhance our recovery and recycling solutions. Together, our aim is to elevate service standards for our customers while actively promoting sustainability in the global precious metals market.”  

McCol Metals says it has developed a state-of-the-art process to facilitate the recovery and recycling of the precious metal iridium from spent mixed metal oxide (MMO) electrodes. MMO electrodes are used as anodes in electrochemical processes. Iridium plays a vital role as a conducting and catalyzing layer that is applied on the electrodes to aid the necessary reactions.  

Prior to the acquisition, McCol Metals was owned by Eastern Composite Services, a Newfoundland and Labrador-based provider of specialized industrial services for the mining, marine and energy sectors. 

“For many years, we've cultivated a strong business relationship with Heraeus Precious Metals,” Eastern Composite Services CEO Andrew Colford says. “Through our longstanding collaboration, we've recognized them as our preferred partner to propel McCol Metals into its next stage of development. We look forward to Heraeus’ leadership and expertise driving continued innovation and success for McCol Metals under their ownership.”  

Due to its temperature, corrosion resistance, conductivity and catalytic properties, iridium is in demand for a wide variety of industrial applications. Heraeus Precious Metals says sustainability is of particular importance to the company, and it aims to operate CO2-neutral from 2025 and to completely abandon the use of fossil fuels from 2033.