The process
From your dock to
Seven steps stand between a pile of converters and a settlement check. Every one of them exists to protect the accuracy of the number you get paid on. Here is exactly what happens to your material.
Where the value hides
A converter is over 95% ceramic. The money is in the parts per million.
The precious metal sits in a washcoat only microns thick, spread across thousands of honeycomb channels. That is why a converter cannot be valued by weight or by eye, and why the whole lot has to be reduced to a homogeneous powder before a sample means anything.
Ceramic substrate
Typical Pd ppm
Metals recovered
- 01
Receiving & grading
Every unit counted, photographed and graded on arrival.
Your shipment is checked in against your manifest the day it lands in Somerset. Each converter is identified by its part number or serial, matched to our database, and graded by category. You get a receiving report with photos before anything is cut.
- Piece count reconciled to your manifest
- Unit-level identification against the 366 database
- Receiving report and photos delivered to your account
< 24hReceiving report - 02
De-canning
The shell comes off. The dust stays in your lot.
Steel shells are cut open and the ceramic substrate removed on an enclosed line under negative pressure. The fine dust produced here carries some of the highest metal concentration in the whole lot, so it is captured, weighed and kept with your material instead of blowing out the door.
- Enclosed de-canning with dust extraction
- Ceramic, dust and fines tracked as one lot
- Steel shells recycled separately
100%Material captured - 03
Milling & homogenizing
Thousands of converters become one uniform powder.
Ceramic bricks, chips and dust are crushed and milled to a fine, consistent particle size, then blended until every scoop of the lot is chemically identical to every other. Homogeneity is the foundation of a fair assay: without it, no sample can represent the whole.
- Milled to a fine, controlled particle size
- Blended into a single homogeneous lot
- Lot weight recorded wet and dry
< 100 µmParticle size - 04
Sampling
Representative samples, pulled by protocol and sealed.
From the homogenized powder we draw multiple samples using a riffle splitter, so each split has an equal chance of containing every particle. Samples are labeled, sealed and logged. One goes to our lab, one to an independent lab if you request it, and one is retained as an umpire sample.
- Riffle-split samples from the full lot
- Independent third-party assay available
- Umpire sample retained for dispute resolution
3Samples per lot - 05
Assay
XRF to screen. ICP to prove it.
X-ray fluorescence gives a fast, non-destructive read on platinum, palladium and rhodium content. Inductively coupled plasma spectroscopy then dissolves the sample and measures each metal in parts per million against the ceramic. The certified assay is what your settlement is calculated on.
- XRF screening on every lot
- ICP laboratory analysis for certified results
- Pt, Pd and Rh reported in ppm and troy ounces
ppmReporting precision - 06
Refining
Concentrate to pure metal, through our refinery partners.
The processed material is smelted, where the precious metals collect into an alloy and the ceramic becomes slag. The collector alloy is then chemically refined to separate platinum, palladium and rhodium to 99.95% purity. Because we work directly with refiners, there are no middlemen taking a cut of your ounces.
- Direct refinery relationships, no brokers
- Metals separated to 999.5 fine
- Recovery rates documented lot by lot
999.5Fineness - 07
Settlement
Paid on recovered ounces, at the market you choose.
Your settlement statement shows the assay, the recoverable ounces of each metal, the price basis and the terms. Price at the day of settlement, or hedge and lock a price when the lot lands. Either way, the math is on the page and the payment is on time.
- Full assay and recovery shown on every statement
- Hedging available to lock prices on receipt
- Advance payments for qualified customers
Pt · Pd · RhPaid on all three
Two ways to sell
Sell the converters, or sell the metal.
Outright purchase
Graded and paid per unit.
Best for smaller volumes or when you want a fast, predictable payment. Units are graded by category against live pricing from 366 Search and paid on receipt. Simple, transparent and quick.
- · Payment within days of receiving
- · Unit-level pricing you can check in the app
- · No minimum lot size
Toll processing
Processed, assayed and settled on ounces.
Best for volume suppliers. Your lot moves through the full pipeline above and you are paid on the certified assay, less a transparent processing and refining charge. You capture the true metal value of your material, with hedging available from the day it lands.
- · Settlement on Pt, Pd and Rh recovered
- · Independent and umpire assays available
- · Price now, or lock a hedge on receipt
Send us a lot and watch it move through every step.
Onboard once, then track receiving, assay and settlement for every lot from your 366 Search account.