The PRIME Framework for Precious Metals Recycling
Over the years, I developed a simple approach for evaluating precious metals recycling projects, which I call the PRIME Framework.
The purpose of the framework is to help companies maximize value recovery while reducing risk.
P – Potential
Start by understanding the opportunity.
- How much precious metal does the company purchase annually?
- What is the potential value of the waste streams?
- Is there enough potential to justify further investigation?
Before investing time and resources, we need to understand the size of the opportunity.
R – Review the Process
Study the manufacturing process.
- How is the product made?
- Where are precious metals used?
- Where can losses occur?
A plant tour often reveals opportunities that cannot be discovered in a meeting room.
I – Identify Waste Streams
Identify and challenge the collection process.
- Are different materials properly separated?
- Are valuable residues being overlooked?
- Are there opportunities to improve collection?
Precious metals can be found in scrap, sweeps, sludge, filters, liquids, catalysts, defective products, and many other waste streams.
M – Measure and Evaluate
Characterize the material.
- Sampling
- Analysis
- Precious metal content
- Hazardous materials
- Selection of the best recycling route
At this stage, we determine what the material actually contains and how it should be processed.
E – Evaluate Commercial Offers
Compare refining proposals professionally.
A quotation may include:
- Lot charges
- Treatment charges
- Refining charges
- Metal return
- Assay fees
- Lease charges
- Shipping costs
- Insurance costs
The goal is not simply to obtain the highest quotation, but to achieve the best overall recovery and the lowest risk.
The Key Message
The PRIME Framework transforms precious metals recycling from a simple scrap transaction into a structured value recovery process.
Potential → Review → Identify → Measure → Evaluate
This systematic approach helps companies recover more value, reduce losses, and make better recycling decisions.
