The Catalyst Review September 2019 - 7

SPECIAL FEATURE
As of now there is a platinum surplus, and rising
concern around what will happen after 2040,
when demand for PGM catalysts for gasoline
and diesel engines is forecast to have peaked.
PGM suppliers are working to ensure the future
of the industry by giving strong support to
emerging automotive and related hydrogen
technologies which rely on PGM, such as PEMFC
and PEM electrolysers (PEMEL).

Table 1. Consumption of platinum in fuel cells for light duty vehicles (LDV) as a percentage of
market supply in 2025.

Source: Wieber J.2019

South African miner AngloPlatinum has begun investing in technology approaches which could result in the use of platinum and
palladium in EV batteries. It recently set up a joint venture with Platinum Group Metals Ltd (the operator of the Waterburg PGM
deposit project) called "Lion Battery Technologies Inc." (AngloAmerican 2019). Incorporation of PGM in EV batteries would secure
the long-term future of PGM in automotive applications. This would be good news for the industry as demand for PGM in many of
the more mature industrial markets has been contracting (Lynch 2017).
Rare earth elements (REE) are facing even
bigger supply-demand issues as they are
needed for several different high growth
sectors and future demand based is not
expected to meet supply; recycling methods
are in their infancy and would take over a
decade to establish. The EU CRM analysis
places REE at the highest supply risk along with
other elements such as antimony, bismuth,
magnesium, and phosphorus. These elements
are all commonly found in a range of catalysts,
so catalyst manufacturers also need to be
aware and manage the supply constraints
they face as a result of the future demand
trends. Fluid Catalytic Cracking (FCC), for
instance, uses significant quantities of REE,
particularly lanthanum and cerium. The most
critical PGM, REE and other elements used in
battery materials and their corresponding use
in catalysis is shown in Table 2. Nickel has not
been included here (even though the highgrade from is required in large quantities for
battery cathode materials) because it is not
anticipated that it will be difficult to source.
Potential disruption in catalyst supply could
be pronounced for REE catalysts - specifically
neodymium, which is employed for highcis-polybutadiene for rubber car tyres and
lanthanum and cerium for Fluid Catalytic
Cracking catalysts (FCC). Undoubtedly new REE
assets need to be developed, this is discussed
further in the Magnets section of this article.

Table 2. Critical resource materials, corresponding demand pressures and uses in non-automotive
catalyst applications.

Source: Enabled Future Limited

The recycling sector is clearly set to become more complex. Investors and stakeholders are keen to understand where the best
opportunities lie and how to enter the market. The remainder of this article looks at valuable recycling feeds across several sectors
and where there is potential to develop new and expanded recycling capabilities. Comments on strategies for existing and potential
new entrants to help navigate the complexities of investing in new recycling sectors are provided.

Lithium-Ion Battery Recycling
In 2018, some 1.1 billion tons of LIB were sold into the global marketplace including for small rechargeable batteries and larger
batteries for transportation and stationary power. In the same year, 180,000 tons of LIB scrap were generated of which 75%
The Catalyst Review

September 2019

The Catalyst Review September 2019

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