TANAKA Precious Metals Aims to Establish “Global Recycling Network” to Promote Worldwide Recycling of Precious Metals
TOKYO, Aug 30, 2023 – (JCN Newswire via SEAPRWire.com) – TANAKA Kikinzoku Kogyo K.K. (Head office: Chiyoda-ku, Tokyo; Group CEO: Koichiro Tanaka), which develops industrial precious metals products as one of the core companies of TANAKA Precious Metals, announced today that it is promoting business strategies in each country with the aim of establishing a “Global Recycling Network” to promote the widespread recycling of precious metals.
TANAKA will encourage the recycling of precious metals in each country at its main recovering and refining bases: Ichikawa Plant and Shonan Plant for Japan and Southeast Asia, Hukou Plant for Taiwan, Marin Plant for Europe, and North Attleborough Plant for North America.
As part of this expansion, Chengdu Guangming Paite Precious Metal Co., Ltd., TANAKA affiliate company in China, will establish a new company, Ya’an Guangming Paite Precious Metal Co., Ltd., in Sichuan Province, China, which will begin full-scale operations in the summer of 2024 or later. This new company will manufacture precious metal compounds for various catalysts and plating and will also recover and refine precious metals from production scrap* and used catalysts by introducing TANAKA’s precious metal recycling technology.
Of the approximately 5 billion yen invested in the establishment of Ya’an Guangming Paite Precious Metal, TANAKA Kikinzoku Kogyo will invest 40%.
*Production scrap includes metal fragments, scraps, and waste generated during the manufacturing process.
Background of Precious Metal Recycling Business Development in China
Unlike in other countries and regions, the precious metals business in China should ideally be completely integrated with the recovery and refining of precious metals and the manufacture of industrial precious metals products. Until now, the cooperation between TANAKA Kikinzoku Kogyo and Chengdu Guangming Paite Precious Metal has allowed for limited integration, but some recoverable precious metals are still not being recovered. This new company will introduce the recycling process that TANAKA has cultivated over many years in the precious metal business in Japan to establish a system capable of recovering precious metals that have not been recovered up to now. Through the new company, TANAKA will establish a one-stop precious metal recycling scheme that can be completely integrated within China, further developing its precious metal recycling business.
TANAKA will contribute to sustainability by effectively utilizing limited precious metal resources in various businesses. TANAKA also believes that precious metal recycling will help reduce the use of mined precious metals in industrial products, thereby helping to reduce environmental impact.
Outline of New Company
– Company Name: Ya’an Guangming Paite Precious Metal Co., Ltd. (100% investment by Chengdu Guangming Paite Precious Metal Co., Ltd.)
– Executive Director: Zhang Shengming
– Location: No. 6, Qingjiang Road, Mingshan District, Ya’an City, Sichuan Province
– Total Floor Space: Approximately 19,000 sq.m.
– Activities: Recovering and refining of precious metals, manufacture and sales of precious metal compounds
– Planned Completion of Construction/Start of Operation: Construction is planned to be completed in January 2024, with full-scale operations scheduled to begin summer of 2024
About Chengdu Guangming Paite Precious Metal and TANAKA
Chengdu Guangming Paite Precious Metal Co., Ltd. was established in 2008 as a Chinese-foreign joint venture by CDGM Glass Co., Ltd. and Pushan International Co., Ltd. In 2012 it became a joint venture between CDGM Glass and TANAKA Kikinzoku Kogyo following an equity transfer from Pushan International. In 2014 the ownership ratio was changed to 60% for CDGM Glass and 40% for TANAKA Kikinzoku Kogyo. It is engaged in the manufacture and sale of precious metal industry products and the precious metal recycling business in China.
About TANAKA Precious Metals
Since its foundation in 1885, TANAKA Precious Metals has built a portfolio of products to support a diversified range of business uses focused on precious metals. TANAKA is a leader in Japan regarding the volumes of precious metals handled. Over the course of many years, TANAKA has not only manufactured and sold precious metal products for industry but also provided precious metals in such forms as jewelry and assets. As precious metals specialists, all Group companies in Japan and around the world collaborate and cooperate on manufacturing, sales, and technology development to offer a full range of products and services. With 5,355 employees, the group’s consolidated net sales for the fiscal year ending March 31, 2023, was 680 billion yen.
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TANAKA Kikinzoku Kogyo K.K.
TANAKA Holdings Co., Ltd.
Press Release: https://www.acnnewswire.com/docs/files/202308_EN.pdf
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