Elemental Group and Mitsubishi Corporation have successfully finalized Mitsubishi’s acquisition of minority shares in Elemental USA which focuses on platinum group metals recycling in the North American market. The agreement related to Mitsubishi’s capital investment in the Elemental subsidiary in the United States stands as a pivotal aspect of the strategic partnership signed between the companies in January 2024. The primary objective of the partnership is to foster close collaboration in the PGM recycling. This collaboration aims to facilitate the expansion of both companies into global markets and support the development of innovative solutions for obtaining metals critical to the economy.
Pawel Jarski, CEO of Elemental, said,聽鈥淭he collaboration between the Elemental Group and Mitsubishi in the USA is another important step to maintaining our position as a global leader in obtaining green platinum group metals. We are thrilled to formally join forces with a world-class partner like Mitsubishi, which will further enhance our global activities from collection to trading of recycled material.鈥�
Koichiro Takagi, Mineral Resources Trading Division COO of Mitsubishi Corporation, said, 鈥淭he partnership between Elemental Group and Mitsubishi in the USA will strengthen our supply chain and underpin our ability to deliver green PGMs for the growing demand of PGM including from the hydrogen economy. This partnership is also a聽step to potentially expand our partnership with Elemental Group in the recycling business to other critical minerals such as base metals and battery metals on a聽global basis.鈥�
The next stage of cooperation represents a significant step forward in the long-term strategy of both companies. Mitsubishi is also supporting the development of the Elemental Group plant in Poland, which was launched in June 2024. The plant located in Zawiercie is an integrated PGM smelter/refinery that specializes in recovering 100% of recycled raw materials.