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Port Hamilton Selling $18.8 Million Worth of Platinum Catalyst, a Critical Commodity in Oil Refining

Ernice Gilbert | June 24, 2022

While all attention is currently focused on whose possession is the Limetree Bay Refinery, with Port Hamilton Refining and Transportation commenting through a statement that it is the rightful owner, essential and extremely expensive parts needed for oil refining at the south shore facility are being sold. Port Hamilton is currently selling 12,490 troy ounces of platinum/rhenium catalyst, which equates to 856.4 pounds of the costly asset, according to an official listing of the product on Aucto, which facilitates the sale of excess industrial equipment for clients. Platinum is currently priced at $22,000 per pound, and sale of 856.5 pounds of this asset would bring in a haul of $18.8 million to Port Hamilton. According to the International Group Metals Association, since the late 1950s platinum catalysts have been used in petroleum refineries…

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Ernice Gilbert | June 17, 2022

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Janeka Simon | June 16, 2022

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