Ruthenium Recycling: Investing in Sustainable Tech for Long-Term Precious Metal Gains

The demand for technology-critical elements is rising, but so are concerns about their environmental impact. Investing in sustainable solutions like ruthenium recycling is not just ethically sound, it’s a strategic move for long-term precious metal gains.

The Ruthenium Advantage: Why Recycle?

Ruthenium (Ru), a member of the platinum group metals (PGMs), is a rare, silvery-white, hard, and brittle metal. Its unique properties make it indispensable in various industries, from electronics to catalysis. However, ruthenium is exclusively obtained as a byproduct of platinum and nickel mining, with limited global production primarily sourced from South Africa, Russia, and Zimbabwe. This limited supply, coupled with increasing demand, makes ruthenium a compelling investment opportunity, especially when considering sustainable recycling technologies.

The Environmental Imperative

Mining and refining ruthenium create distinct environmental challenges. Extraction from platinum and nickel ores generates tailings with heavy metals and chemical residues. Integrated mining operations invest in advanced tailings management to reduce metal runoff into the soil and waterways. Water recycling and dust control protect fragile ecosystems near mines. Strict emission controls limit the release of sulfur dioxide and heavy metals, which are byproducts of ore processing.

Recycling ruthenium offers both environmental and economic advantages. It reduces dependence on mining, cuts down on hazardous waste, and returns valuable metal to the supply chain. Moreover, it’s a key step toward a circular economy — one where nothing is wasted, and everything has a second life.

Applications Driving Demand

Ruthenium finds application in a wide range of fields due to its unique chemical and physical attributes.

Electronics: Ruthenium is used in the electronics industry for chip components, hard disk drives, and electrical contacts requiring high wear resistance. Ruthenium oxide-based ceramic paste is used in resistor components, which are present in almost every chip device, hybrid integrated circuitry, and arrays. Computer hard disk drive memory using ruthenium as an underlayer to its platinum-containing storage layer has enabled data storage density to greater increase.
Chemical Catalysis: Ruthenium serves as an effective catalyst in the chemical industry, particularly in processes involving the synthesis of ammonia and other vital chemicals. Ruthenium catalysts are used as a catalyst in China to make caprolactam – a precursor to nylon, in acetic acid production and in catalytic wet air oxidation for the treatment of industrial wastewater.
Electrochemical Applications: Ruthenium is also widely used in electrochemical applications because of its wear resistance. Examples include: a coating on electrodes for chloro-alkali production, electrocatalyst in gas diffusion electrodes (Ruthenium black), salt-water chlorination of swimming pools and electrochemical treatment of shipping ballast water to kill invasive species. It is often used in electrolysis with iridium.
Alloys: Ruthenium is one of the most effective hardeners for platinum and palladium and is alloyed with these metals to make electrical contacts for severe wear resistance. It is used in some jewelry as an alloy with platinum. Ruthenium alloys can be found in extremely hard tungsten carbide alloys used in the machine tool industry and in corrosion-resistant alloys for the oil, gas, and chemicals industries.
Energy Transition: There is increasing interest in ruthenium for energy-transition applications, particularly in the hydrogen economy. Ruthenium’s ability to enhance oxygen evolution reactions (OER) and hydrogen evolution reactions (HER) makes it an indispensable catalyst for hydrogen production.

The Recycling Market: Growth and Opportunities

The global ruthenium recycling market is experiencing robust growth, driven by increasing demand from various sectors, notably the electronics and automotive industries. The Ruthenium Recycling Market was valued at USD 327.1 Million in 2022 and is expected to reach USD 1,153.6 Million in 2032, with a notable CAGR of 13.8% between 2023 and 2032.

Evolving technological advancements in refining techniques enhance recovery rates and reduce processing costs, making ruthenium recycling economically more attractive.

Products popular in the ruthenium recycling market include:

Ruthenium catalysts are used to make anti-cancer drugs.
Ruthenium-rhodium catalysts lower the energy needed to make methyl acetate.
Wastewater treatment catalysts used in steel factories also contain ruthenium.
Chip makers need ruthenium targets to make 12-inch wafers.
5G communication antennas often have ruthenium plating.
Some perovskite solar cells have a ruthenium layer.
Jet engine turbine blades sometimes have ruthenium plating.

Sustainable Technologies in Ruthenium Recycling

Modern recycling technologies (such as chemical leaching and electrolysis) can efficiently extract precious metals from complex wastes and improve resource utilization efficiency.

Emerging and conventional recycling technologies recognized to be efficient in recovering metal alloys, precious and rare earth metals from e-waste:

Hydrometallurgy
Biometallurgy
Pyrometallurgy
Hybrid approaches

Navigating the Challenges

Challenges such as the complexity of extracting ruthenium from diverse waste streams and fluctuations in ruthenium prices pose potential restraints to market growth.

Investment Strategies

For direct investment, acquiring physical ruthenium in high-purity bars from specialized metal dealers is an option. Secure storage in insured vaults ensures safekeeping while allowing investors to track ruthenium’s intrinsic market value. This approach provides a strategic hedge against industrial demand fluctuations and supply constraints, making it an attractive, albeit niche, investment in the critical metals sector.

The Road Ahead

Future growth will likely be shaped by advancements in separation technologies, increased awareness of the environmental benefits of recycling, and the emergence of novel applications for ruthenium across various industries. The geographical distribution of the market is expected to be relatively diverse, with established markets in North America and Europe gradually expanding into Asia-Pacific, driven by economic growth and rising electronic consumption in developing nations.

A Call to Action

Investing in ruthenium recycling is not just about financial returns; it’s about contributing to a sustainable future. By supporting innovative recycling technologies and responsible sourcing, we can minimize the environmental impact of ruthenium production and ensure its availability for future generations.