Why is precious metals refinery important?

Pure metal is a non-renewable resource that has become a necessity for the manufacturing of many products. Precious metals are recovered through extraction in the earth. They are then used for products like cell phones, computers and countless electronic devices and appliances. The evolution of technology has become more dependent on precious metals, despite them being a finite resource. 

Precious metals are becoming scarce to find through extraction, and their prices are inevitably increasing. The extraction process also has a massive impact on the environment. It is the cause for almost half of the world’s carbon emissions and 10% of all biodiversity loss. This calls for new ways to recover precious metals that are cost-efficient and environmentally friendly. 

Once a precious metal is used in a product like jewelry or electronic devices, they become exposed to materials that impurify the metals. In this state, their quality is lessened, as is their price and recyclable ability. This is why a precious metals refinery is important. 

When precious metals are refined, their original quality is recovered and they can be reused in the market. Recycling precious metals never take away their quality, making them a valuable recyclable resource. This process diminishes the need for earth extraction and slows down the rising prices of precious metals. 

What are precious metal refining companies? 

Precious metal refining companies are dedicated to restoring precious metals to their original quality so that they can be reused in the market. Precious metal refining companies usually specialize in refining specific types of metal so that they can concentrate on gaining efficient equipment for each metal’s process. 

Precious metal refining companies may work with different industries and companies to receive their wasted metal that can go through the refining process. Manufacturers of medical devices, electronics, jewelry and automotive all depend on precious metals and inevitably have precious metal waste. 

Precious metal refining companies are always looking to advance their processes of metal refinery and to create an efficient process that brings precious metals back into circulation. They are also dedicated to assigning accurate monetary value to the metal waste they receive to buy the metal scraps from customers and sell them to investors and manufacturers. 

The precious metal refining process

The process for precious metal refineries depends on each metal and how it should be properly handled. Overall, the precious metal refining process is similar among different metals, but the breaking down of metal to purification is done in different methods so that the metal can be restored to its original quality. 

Precious metal refineries recover their metal through scrap yards and wasted metal from manufacturers. Once the metal refineries receive metal, it is weighed before the rest of the refining process begins. 

The metals are then broken down depending on their type, to extract the pure precious metal. This is usually done through smelting or exposing the metal to heat through an induction furnace, a gas blast furnace, or a blowtorch. This will make the metal more flexible and easier to handle. 

Once the metal is heated to the correct temperature, the impurities have to be extracted. Extracting these impurities is done either with gas, pressure, or other materials. Materials like Borax and soda ash are mixed in and exposed to the metal so that they can absorb the impurities. A sample of the metal is then taken. This sample determines its amount of precious metal, and how much monetary value it has. 

Precious metal refining services: precious metals smelters and refiners 

Smelting is the process and art of extracting metal from its ore. It requires the same act as refining or exposing it to heat in a furnace. In the furnace, the ore is heated so that drops of the metal drip down and can be retrieved, evaluated, and reshaped. 

Precious metal smelters and refiners provide a service of refining that isolates the precious metals from impurities, but sometimes their capabilities do not reach the capacity some customers need. If someone is looking to sell their gold, it is important to find experts in the industry, rather than finding a store that buys gold but could inaccurately assign its value. 

Precious metal refining services that include smelters have the resources and equipment available to fairly evaluate and buy metal. They also can refine the metal so that customers know their metal can be reused and brought back into the market. 

Finding the best precious metal refinery 

When finding a metal refinery to sell metals, it is crucial to find one that can accurately evaluate the metal but also consider the company's capacity and traits of the company. 

A precious metal refinery should be communicative and experienced in its processes. A good refining company should be ready to answer any question honestly,  patiently and communicate clearly how their services work. 

With this, metal refineries should be able to provide a timeline of their process, with details that show their experience. Finding the best precious metal refinery should include inquiring on what metals they have the most experience refining and their environmental responsibility. Precious metal refining can require toxic gasses and chemicals that require refining companies to adhere to strict regulations from the government. 

Some of the best ways to evaluate the traits of a refining company are by inquiring about the process and the company. This can be done by visiting the refiner and asking questions about how the company evaluates the material and handles the metal through the refining process. Visiting and asking these questions can help you evaluate the experience of the employees, and if it can meet your needs and expectations.

Majestic Corporation has been a leading precious metals recycling, non-ferrous metals and Catalytic converter provider for around three decades. With a presence in the United States, United Kingdom, Malaysia, Italy, Mexico, Australia, Hong Kong and more, as well as a network of precious metals refineries around the world, we work with major customers and partners in a transparent and discrete manner and only offer the highest quality services at competitive prices. 

Contact us here for more information.