High prices for platinum are spurring increasing levels of recycling of electronic household goods in Japan for use in autocatalysts and hard drives, according to a report from Bloomberg.

With the price of platinum having recently effectively doubled to $1,320 per oz, Japan's processing plants have boosted their recycling output over the last few years, with figures from the Japanese Mining Association showing recycling having grown by ten per cent to 1.64 million tonnes by the close of 2006.

Meanwhile, Dowa Holdings and Nippon Mining Holdings, which are among the top ten smelting companies in the sector, have announced they are to expand their plants with the injection of a further $193 million to capitalise on high prices for precious metals.

In particular old gambling arcade machines and obsolete mobile phones that would once have been discarded are being scoured by Japanese companies for the precious metals contained with their liquid crystal display screens.

Commenting on the situation June-Pyo Park, of Okachi & Co. told Bloomberg: "The global economy, led by China, has boosted demand for all sorts of things, from jewellery to electronic devices."

Source:

Japan Turns Dentures Into IPods, Car Parts as Metal Prices Rise. 25/04/07
http://www.bloomberg.com/apps/news?pid=20601101&sid=aOpy.CLbKxnw&refer=japan

Platinum price could stay stronger for longer period than thought earlier, 23/04/07
http://www.mineweb.net/mineweb/view/mineweb/en/page35?oid=19979&sn=Detail

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