Excellence in recycling

Excellence in recycling…
October 2006

Exploring Umicore

Umicore: a history of transformation
1887 1900 1960 1970 1980 1990 2001 2003
Asturienne
Vieille-Montagne
Acec
Société minère du Bécéka (Sibeka)
Union Minière
Metallurgie Hoboken
Usine de désarg (Degussa)
Compagnie des Metaux d’Overpelt
Société Générales des Minerais
Méchim
MDK Kombinat Pirdop
Sogem
Degussa (precious metals, automotive catalysts, fuel cells) dmc² PMG
3

Umicore:
a world leader in specialty materials
Umicore’s activities are centred in 4
business areas: Advanced
Materials, Precious Metals Products
& Catalysts, Precious Metals
Services and Zinc Specialties.
Umicore’s expertise in materials
science, chemistry and
metallurgy can make a real
difference, be it in products that are
essential to everyday life or those at
the cutting edge of new
technological developments.
4

Umicore: activities in four business groups
Precious
Metals
Management
Precious
Metals
Services
Precious
Metals
Refining
Automotive
Catalysts
Electro-
Optic
Materials
Precious Metals Products & Catalysts
Precious
Metals
Chemistry
Specialty
Oxides &
Chemicals
Technical
Materials
Engineered
Metal
Powders
Advanced Materials
Thin Film
Products
Element 6
Abrasives
(40%)
Zinc
Specialties
Jewellery
& Electroplating
Zinc
Alloys
Zinc
Chemicals
Building
Products
Padaeng
Industry
(46%)
Additional
info
5

Precious
Metals
Services
§ Umicore is the world leader in the
recycling of precious metals. It
provides recycling and refining
services at its plant in Hoboken,
Hanau and in Brazil.
§ Recovers approximately 20 metals
including: gold, silver, platinum,
rhodium and palladium.
§ Metals Management function for,
among others, the hedging,
leasing, purchasing and sale of
precious metals.
The main feed materials are byproducts
of the non-ferrous metal
and photographic industries, spent
automotive and industrial catalysts
and electronic scrap
in mio € H1 2005 H1 2006
Revenue 117.5 166.6
EBIT (recurring) 28.9 62.6
EBITDA 52.2 77.3
ROCE % 23.6 44.8
6

Precious
Metals
Products &
Catalysts
§ Umicore is one of the world’s
leading producers of automotive
catalysts and the leading producer
of catalysts for diesel engines.
§ Other products and services are
based on precious metals (most often
PGMs) and used in a wide variety of
industries incl. jewellery,
electroplating, glassmaking,
electronics and in various chemical
processes.
§ Thin Film Products provides target
materials for a wide range of
applications.
The business has a global reach with
production sites on four continents.
This business group is mostly made up
of units acquired as part of the PMG
acquisition which was finalised July ‘03.
in mio € H1 2005 H1 2006
Revenue 375.4 426.7
EBIT (recurring) 71.6 71.7
EBITDA 91.3 94.6
ROCE % 24.2 20.8
7

Advanced
Materials
§ Leading global position in cathode
materials for lithium –ion batteries,
cobalt powders for hard metal,
applications, germanium
substrates for space solar cells.
§ Produces high-purity metals,
alloys, compounds and engineered
products for a wide range of other
specialist applications.
§ Advanced Materials has industrial
operations around the world.
Synthetic diamond and superabrasives
activities are conducted
in a joint venture with Element Six.
in mio € H1 2005 H1 2006
Revenue 138.6 143.7
EBIT (recurring) 27.7 24.3
EBITDA 37.5 36.4
ROCE % 13.7 13.0
8

Zinc
Specialties
§ Umicore’s strategy is to pursue
leadership positions in specialty
products with added value: zinc
chemicals, alloys and building
products.
§ Umicore is also the world’s
foremost zinc recycler.
§ Primary production in Belgium,
France and in 46% owned
Padaeng Industries in Thailand.
Umicore’s focus on recycling is
central to its closed loop business
model.
in mio € H1 2005 H1 2006
Revenue 229.1 207.0
EBIT (recurring) 16.9 27.2
EBITDA 37.3 47.2
ROCE % 8.3 10.8
9

Umicore has industrial applications on all continents
& serves an international customer base
10

Umicore: Committed to sustainable
development
Turnover
Revenues
EBIT
EBITDA
Net Consolidated Profit
Capital Employed
Workforce
H1
2005
€
million
3,263.5
861.1
121.7
203.8
1,707.0
13,193
77.2
H1
2006
€
million
4,521.0
944.4
160.5
251.3
109.6
1,937.0
15,956
In June 2005 Umicore was ranked
in world’s top-50 companies for
combined financial and corporate
social responsibility performance.
Umicore ranked 8th in terms of
corporate social responsibilities.
Umicore recognizes that its
commitment to financial success
must also take into account the
broader economic, environmental
and social impact of its operations.
11

Exploring
Umicore
Precious Metals Refining

UPMR Worldwide
UAR,
Covington,
USA
UPMR,
Guarulhos,
Brazil
Cycleon, Paris, France
UAR, Hoboken, Belgium
UPMR, Hoboken, Belgium
UPMR, Hanau, Germany
UAR, Alzenau, Germany
UMS,
Shanghai,
China
13

UPMR Worldwide
Hoboken Hanau Guarulhos
§ UPMR’s largest industrial
activities are located at
Hoboken, near Antwerp
(Belgium).
§ Around 1,150 people active in
sampling & assaying activities,
in smelting & refining
operations and in commercial
& supporting services.
§ First operations started in 1887
as a desilvering plant and is
now the world’s largest
precious metals recycling
facility.
§ UPMR Hanau (Germany)
includes a sampling & sales
department
§ Particularly the autocatalyst
recycling facilities are run out
of Hanau.
§ 20 people are active in Hanau.
§ UPMR operates in Guarulhos,
near Sao Paulo (Brazil) and has
silver & gold refining activities.
§ The sales department is serving
the South-American market in
order to supply our Brazilian
refinery as well Hoboken’s
plant.
§ Employment: 50 people
14

UPMR: the leading precious metals recycler
• Unique and innovative
technology
• Outstanding services to
an international customer
basis
• A wide range of complex
precious metals bearing
materials
• Efficient recovery of 17
different metals
• Applying world class
environmental standards
15

Umicore Precious Metals Services*
Key Figures
EBITDA
EBIT
Average Capital Employed
ROCE
Capital Expenditure
Workforce
Surface
* Business units Precious Metals Refining & Precious Metals Management
H1 2005
€ million
52.2
28.9
245.1
23.6%
4.8
1,279
H1 2006
€ million
77.3
62.2
277.7
44.8%
9.8
1,294
116 hectares
16

Umicore Precious Metals Refining
SMELTERS &
REFINERS INDUSTRY MARKET
e.g.
tankhouse
slimes
refined metal e.g. computers
production
scrap
precious
metals
e.g. copper scrap
e.g.
electronic
scrap
precious
metals
17

Our Core Business
Sampling &
Assaying
Metals Sales
Recycling & Refining
Raw Materials
Supply
Customer Support
SUSTAINABLE
DEVELOPMENT
18

Raw Materials Supply
Each year UPMR processes around
300,000 tonnes of more than 200
different types of raw materials
containing lead/copper/nickel and
precious metals.
19

Types of raw materials
By-products Recyclable products
By-products
from nonferrous
industry
e.g. drosses from
lead smelters,
slimes from copper
industry,…
Spent
Industrial
Catalysts
Industrial
catalysts from oil
refining &
petrochemical
industry
Electronic
Scrap
e.g. printed circuit
boards
Spent
Automotive
Catalysts
end-of-life
car catalysts
Precious metal
bearing raw
materials
e.g. fuel cells,
photographic
residues
20

Supply distribution
Spent
Catalysts
12%
Electronic
Scrap
10%
Others
5%
By-products
73%
21

Our Core Business
Sampling &
Assaying
Metals Sales
Recycling & Refining
Raw Materials
Supply
Customer Support
SUSTAINABLE
DEVELOPMENT
22

Sales
We recover and sell precious,
special & base metals, chemicals &
derivated products.
23

Umicore Precious Metals Refining has
flexible capacity for PM’s …
Capacity t/y
Output t/y
From
recyclables
Ag Au Pt Pd Rh
2,400
1,200
25%
100
25
25%
16
12
65%
24
15
65%
4
3
30%
24

Precious Metals added value products
§ Besides the production of refined precious metals Umicore
produces a range of complex precious metal bearing
materials serving a wide range of industries including
automotive, jewellery, electronics, pharmaceutical and
optics.
§ Umicore Precious Metals Products & Catalysts with its
headquarters in Hanau (Germany) generates added value
to Hoboken refined metals
Additional
info
25

Precious Metals
Silver
(Ag)
Gold
(Au)
Origin
Grade
Applications
Origin
Grade
Applications
tankhouse and various slimes, lead sulphate, ashes, …
silver 99.9+ % & 99.99 % granules
jewellery, coins, electronic & imaging industries,
catalysts, batteries
tankhouse and various slimes, electronic scrap,
sweeps & bullions
gold 99.99 % grains & ingots (12.5 kg bars or smaller)
jewellery, investment, coins, electronic industries, …
26

Precious Metals
Platinum
(Pt)
Palladium
(Pd)
Rhodium
(Rh)
Origin
Grade
Applications
Residues from the PGM mining, slimes, catalysts,
electronic scrap
99.95 % powder (sponge)
Jewellery (Pt), industrial & automotive catalysts,
electronic industry, …
27

Precious Metals
Iridium
(Ir)
Ruthenium
(Ru)
Origin
Grade
Applications
Various slimes and precious metal bearing products
High grade salt (Ru > 75%)
Hard metal and heat resistant alloys, electronic
industry, …
28

Base & special metals
Pb
125,000t
Cu
40,000t
Sb
3,000t
Capacities for other non - PM elements
Sn
1,000t
Bi
400t
Ni
2,000t
In
30t
Se
600t
Te
150t
Slags
140,000t
Additional
info
29

Base Metals
Lead
(Pb)
Copper
(Cu)
Nickel
(Ni)
Origin
Grade
Applications
Origin
Grade
Applications
Origin
Grade
Applications
drosses, lead sulphates, slags, …
HER 99,97%, Crystal Pb 99,99%, PbCu
Batteries, building products, …
drosses, tankhouse slimes, copper cement, electronic
scrap, …
see www.cumerio.com
cables, wires …
drosses, slimes, electronic scrap, …
nickel sulphate
batteries, stainless steel, …
30

Chemicals & derivated products
Sodium
Antimonate
Aggregate
for
concrete
Origin
Grade
Applications
Origin
Applications
drosses, slags, tankhouse slimes, …
Sodium antimonate
flame retardant, decoloring agent, oxygen removal
additive (TV-glass)
the slag is the remainder of our metallurgical process
additive for concrete & dyke fortification
31

Special Metals
Indium
(In)
Selenium
(Se)
Tellurium
(Te)
Origin
Grade
Applications
Origin
Grade
Applications
Origin
Grade
Applications
zinc & lead ores
In foil & InH
Indium Tin Oxide (ITO) for use in flat screens,
electronics & semiconductors, solders & low melting
point alloys, batteries, …
tankhouse slimes
SeHP 5N, SeHP 5N+, NaSe, SeTG 2N5, SeTG, 3N,
SeSG 4N5 & Se Crude Wet
in glass industry as coloring agent, pigments, animal
feed, photo electric cells, …
by-products from copper & lead industry, tankhouse
slimes
TeTG & TeHP
steel, brass & copper alloys, solar cells
32

Our Core Business
Sampling &
Assaying
Metals Sales
Recycling & Refining
Raw Materials
Supply
Customer Support
SUSTAINABLE
DEVELOPMENT
33

Customer support
UPMR provides a complete range of
commercial and financing services for
an optimal match with our costumers
needs.
Logistical assistance is provided as
well as cross border transports and all
legislative related matters.
34

Comprehensive customer service
§ UPMR is present worldwide to provide all
necessary support.
§ UPMR provides its clients complete
incoming and outgoing logistical assistance
for raw materials and for refined metals &
products.
§ UPMR assists the customer in taking care of
all environmental and administrative
obligations resulting from international waste
regulations and shipments, such as the Basel
Convention, the Decision of the OECD
Council and the Council Regulation (EEC).
§ UPMR’s VAT warehouse allows our clients to
trade with their metal credit loco Hoboken
without VAT registration in Belgium and
without declaration to the related EU Tax
authorities.
35

Metals Management service
Basel Convention
LBMA
§ Optimal metal valorisation is ensured by
UPMR’s expertise team, watching
closely London fixings and market
information.
§ Supplier ‘s Risk management can be
facilitated through forward pricing,
transmission of limit orders or more specific
solutions.
36

Metals Management service
§ Our metals management ensures an optimal valorisation of raw
materials. Refined metals can be returned or can be repurchased at
the best available market conditions.
§ Clear individual metal accounts reflect all of the results of the metal
transactions.
§ UPMR offers special services like financing, leasing, swaps, metal
account transfers, pledges, early metal returns, market information,
regular metal statement, ...
37

Our Core Business
Sampling &
Assaying
Metals Sales
Recycling & Refining
Raw Materials
Supply
Customer Support
SUSTAINABLE
DEVELOPMENT
38

A unique metallurgy…
In
Bi
Ag
Pb
Sn
Au
Te
As
Pd
Cu
Sb
Se
Pt
Ni
Ir
Rh
Ru
Recycling & Refining
Pb, Cu & Ni are the base metals
that drive our unique recycling
process.
By using the specific properties of
these collector metals, precious
and other secondary metals are
recovered with the greatest
efficiency.
Our in-house developed precious
metals refinery is one of the
world’s largest and most efficient
refining facility.
39

H 2 SO 4
Sulphuric Acid
Nickel Refinery
Ni
SO 2
PMresidue
Sampling
Smelter
Raw Materials
Precious Metals Operations
Cu-bullion
Leaching & Electro Winning
PM-residue
Precious Metals Refinery
Pb-slags
Cu-matte
Ni-speiss
Agresidue
Seresidue
Base Metals Operations
Blast Furnace
Lead Refinery
Pb-bullion
Special Metals Refinery
In-Te-residue
Cu Ag, Au, Pt, Pd, Rh, Ir, Ru In, Se, Te Pb, Bi, Sb,
Sn, As
Additional
info
Slags 40

Precious Metals Operations
Smelter
§ Unique Isa smelt, submerged lance combustion technology, injecting oxygen
enriched air and fuel in a molten bath.
§ Separating precious metals, in a copper bullion, from mostly all other metals,
concentrated in a lead slag.
§ Operating at 1,000 mt/day at an availability > 92%. Brick relining period over
14 months.
§ Highly flexible technology for PM recycling
q variability of physical aspect (lumps, fines, wet,
dry, shredded material, ...)
q variability of feed mix (e.g. volume e-scrap vs.
total volume)
q ratio PM/ PGM’s and impurities in the feed mix
41

Precious Metals Operations:
Leaching and Electro Winning
§ Leach copper to collect precious metals in a residue for further refining in the
precious metals refinery.
§ Increase PM-content in residue from intake (Cu-granules) with factor 10.
§ Wax- less Cu Electro Winning process, operating at 270A/m², actual current
efficiency > 92%, producing 99.99% pure Cu-cathodes.
§ Highly flexible technology
q Ratio copper / other metals
q PM and PGM content
42

Precious Metals Operations
Precious Metals Refinery
§ Combination of classical methods (e.g. cupellation) and unique in-house
developed processes (e.g. silver refinery).
§ Unique flexibility on ratio of gold, platinum, palladium and secondary
PGM’s versus silver, varying substantially accordingly raw material feed.
§ High purity metal production:
q Ag: 5N
q Au: 4N+
q Pt, Pd, Rh: 3N5, catalytic grade
q Ir, Ru: concentrates
43

Base Metals Operations
Blast Furnace
The gases are further treated into
gas cleaning installation.
The gases leave the furnace at
around 200 °C.
At the middle of the furnace the gas
temperature is about 400 °C
The warm gases heats-up the
“cold” feed.
The burned cokes produce gases
with a temperature up to 1700 °C
Reaction between hot air and
cokes.
Blowing hot air at 600 °C into the
furnace.
GASES
Feed
Gases
- The feed is a mixture of more than 20 different products
-Smelting capacity up to 1000 ton/day
- Productions:
200 - 250 ton lead / day
FEED
Feeding the furnace with a
mixture of cokes and lead
containing products.
Drying of the feed by the hot
gasses.
Heating up of the feed to 400 °C.
Heating up of the feed to 800 °C.
Smelting of the feed. Due to a
complex set of metallurgical
reactions different liquid and
gaseous phases are formed.
Liquid phases are tapped at
1200 °C.
44

Base Metals Operations
Lead Refinery
§ The Lead refinery treats the lead-bullion from the blast furnace
q 95% Pb with As, Sn, Sb, In, Te, Ag, Bi
§ In a batch type process these impurities are individually separated
q As- salt retrograded to the Blast Furnace
q Sn- salt for third party treatment
q Sb- salt for sales
q In & Te- residue for treatment in the Special Metals Refinery
q Ag-skimmings for treatment in the Precious Metals Refinery
q Bi-skimmings for third party treatment
§ The main final product is refined lead
q 99.99 % Pb, at a capacity of 90,000 ton/year
45

Base Metals Operations
Special Metals Refinery
Selenium, tellurium and indium form the product
portfolio of UPMR Special Metals. These metals are
extracted from side-streams of the PMO and the Leadrefinery.
In Se Te
Selenium is often present in copper ore and is recovered from tankhouse slimes. It is
used in the glass and pigment industry, in reprography applications, in infrared optics and
solar cell technologies. UPMR has a production capacity of 600 tonnes per year.
Tellurium is also mainly generated in a by-product of the copper industry. Tellurium
improves the machinability of steel, is used in rubber vulcanisation and catalysts, as well
as in thermoelectric applications. UPMR has an annual production capacity of 150 tonnes.
Indium is not found in the native state, but is associated with lead and zinc in many ores.
80% of the indium consumption is dedicated to the production of Indium-Tin-Oxide (ITO),
which is a transparant conductive oxide used in flat screen displays. Applications of indium
also include low melting point alloys, control rods for nuclear reactors and hermetic seals
for cryogenic applications. UPMR has a production capacity of 30 tonnes per year.
46

Our Core Business
Sampling &
Assaying
Metals Sales
Recycling & Refining
Raw Materials
Supply
Customer Support
SUSTAINABLE
DEVELOPMENT
47

Sampling & Assaying
The wide variety and complexity of
incoming materials mean that
sampling & assaying are
Key Succes Factors in determining
our customer’s financial yield.
UPMR allocates more than 15% of
its operating budget to these
services.
48

Raw materials flow
Arrival of raw
materials
Physical reception
Primary sample
Weighing information
Moisture determination
Final sample
preparation of
primary sample
W&S report
Samples for customers
Loss of identity
Bulk Smelter
Laboratory Assay Exchange
Determination of
metals content
Settlement of results
between customer &
UPMR
49

Sampling
§ Unique state-of-the-art facilities
§ Dedicated to process all raw materials
§ Key drivers:
q maximizing automations
q adequate capacities in growing segments (e-scrap, auto catalysts, …
q shortening the lead times
q respecting environmental, health & safety standards
§ Investment of 15 Million € in last 10 years
§ Employment: 90 people
§ Secured area, ± 5000 lots & 300,000 t/y
50

Main sampling processes
Autocatalysts
Decanning & sampling
of ceramic convertors
in Hoboken (Belgium),
Hanau-Alzenau
(Germany).
Shredding & sampling
of metallic convertors
in Alzenau (Germany)
Electronic scrap
Two seperate lines
for shredded and
unshredded
electronic scrap
Fine free-flowing
material
Sampling via
blending
e.g. sweeps,
industrial
catalysts
Metallic material
Sampling after
remelting
Final sample preparation
Wet material Lumpy material
Homogenisation
by mixing
Automatic spear
sampling
e.g. leach
products, slimes
Sampling via
milling
51

Laboratory
§ Recognized leadership in the precious metals industry
§ An up-to-date analytical equipment, supported by
§ Key drivers:
q a robust quality assurance system
q a laboratory information and management system (LIMS)
q Customer orientation
q Respect for short lead times
q Continuously investment in analytical research and method improvement
§ Employment: 75 chemists
§ Workload: 70,000 samples/y
52

Assaying process
§ Internationally recognised by our customers in
precious metals assaying using conventional
fire assay & chemical procedures. Highly
experienced in Pb, Cu and NiS collection.
§ In-house developed technologies/processes.
§ Extensive wet chemistry experience.
§ Environmental analysis, including dioxins (by Gas
Chromatography – Mass Spectrometry).
§ Trace metals determination.
§ Broad range of instrumental techniques:
q X-Ray Fluorescence (XRF)
q Inductive Coupled Plasma (ICP)
q Optical Emission Spectrometry (OES)
q Graphite Furncace Atomic Absorption Spectrometry
(GFMAS)
53

Our Core Business
Sampling &
Assaying
Metals Sales
Recycling & Refining
Raw Materials
Supply
Customer Support
SUSTAINABLE
DEVELOPMENT
54

Sustainable Development:
For Umicore Precious Metals Refining, sustainable
development implies:
§ Continuous improvement of environmental
performance.
§ Social responsibility especially towards the local
community.
§ A challenging and supporting policy towards our
personnel.
§ Economic sound management in a Total Quality
approach.

Environment:
continuous reduction of air emissions
45
40
35
30
25
20
15
10
5
0
20
18
16
14
12
10
8
6
4
2
0
Stack emission of lead (t/y)
80 85 90 93 94 95 96 97 98 99 00 01 02 03 04 05
Diffuse emission of lead (t/y)
81 83 85 87 89 91 93 95 97 99 01 03 05
Substantial
reduction
from 2008
Test with
wind screens
for further
reduction
56

Environment:
well performing waste water treatment
§ All site waters (process water, cooling water, rain
water, sprinkling waters,…) are treated; there is no direct drain away to
the River Scheldt.
§ 2/3 of all treated water is reused in the plant
§ Emission standards are largely observed
50
45
40
35
30
25
20
15
10
5
0
Concentrations in % of emission standard
93 94 95 96 97 98 99 00 01 02 03 04 05
Pb Cd Cu NO2+NO3
57

Environment:
contribution to “Kyoto Protocol”
3500
3000
2500
2000
1500
1000
500
0
2002 2003 2004 2005
(budget)
Energy Consumption (in TJ) Energy Recovery (in TJ)
Energy Recovery (in %)
12%
10%
8%
6%
4%
2%
0%
§ UPMR strives to respect the climate
change/CO 2 objectives:
q Heat recovering facilities at smelter, blast
furncace and lead refinery.
q Efficiency increase at LEW.
q Several improvement projects
§ Covenant with the authorities with
pledge to stay within the world top for
energy efficiency.
58

Social responsability
Soil remediation project in adjacent
residential area “Moretusburg”:
q Replacement of 30 cm of historical
contaminated soil by clean earth
q 700 houses and public area
q Activities will start in September 2006
59

Social responsibility:
communication and information
§ Yearly environmental report, distributed on 7,000 copies
§ Yearly information session to inhabitants
§ Consultation Committee with representatives of residentials and
authorities
§ Free telephone number 7/7 and 24/24
§ Visits, open house, …
§ Special information efforts for soil remediation project of Moretusburg
60

Rehabilitation of historically polluted areas
After 6 mio € clean-up costs: 2001 >
< 1998: Before the clean-up
61

Health & safety
43
38
33
28
23
18
Lead in blood [µg/dl]
40 = norm UPMR
95 96 97 98 99 00 01 02 03 04 05
UPMR continuously improves its occupational
health & safety performance
§ Occupational health monitoring:
q Bio-monitoring
q Workplace analysis
q Vaccination
§ Health:
q Own medical service
q Reduction program for lead in blood of
employees
§ Comfort:
q Ergonomics
q Advice & training for use of computers
§ Well-being:
q Alcohol & drug policy / smoking policy
q Stress management
62

Health & safety
1,6
1,4
1,2
1
0,8
0,6
0,4
0,2
0
60
50
40
30
20
10
0
Severity
97 98 99 00 01 02 03 04 05
Frequency
97 98 99 00 01 02 03 04 05
UPMR has a safety policy focussed on three main areas:
1. Technique:
- Risk analysis of installations (via HAZOP:
Hazard & Operability Study)
- Identification & follow up of critical components.
- Reliability of safety circles (via SIL:
Safety Integrated Level)
- Fire & explosion restriction (via ATEX:
Atmosphères Explosives)
2. Organization:
Set up & audit of safety procedures (contractors,
licenses, …).
3. Human:
Sensitivity & motivation of all employees in order
to work in a safe environment.
63

A Total Quality approach
Our Total Quality system is driven by the
European Foundation of Quality Management
(EFQM) model. The EFQM approach is
formalized in one integrated management
system certified against international
standards.
§ Environmental care system certified
according to ISO14001: “… very well
designed and implemented …”
§ ISO 9001: Quality management.
§ Safety certificate OSHAS 18001: due for
October 2006.
64

Our Core Business
Sampling &
Assaying
Metals Sales
Recycling & Refining
Raw Materials
Supply
Customer Support
SUSTAINABLE
DEVELOPMENT
65

www.preciousmetals.umicore.com
www.electronicscrap.umicore.com
www.autocatalyst-recycling.umicore.com
www.industrialcatalyst-recycling.umicore.com

Electronic Scrap Recycling
www.electronicscrap.umicore.com
67

Recycling is more complex than it appears on the
1st look: Several chain links have to cooperate
E-scrap
Collection
Dismantling
Preprocessing
Separated components & fractions
Materials
recovery
Recycled
metals/
elements
reuse
Handling of
final waste
• The entire chain has to be considered. All steps are closely interlinked.
• Dismantling & preprocessing (often called „recycling“ by itself) is important, but only
an intermediate step.
• Endprocessing (physical materials recovery) is a crucial step in value generation &
toxic control.
• Reuse is only an interim solution and finally will lead to EOL-material.
• In every process some final waste streams will occur, they have to be considered
both in the environmental and economic process evaluation.
68

E-waste: structure of recycling chain and
potential losses
typical numbers of participants per country
some 1.000
(local)
some 100 (local)
Mainly
Some 10 locally
(partly international)
< 5 globally
(3 in Europe)
Entire EOL-devices
Collection
Sorting/dismantling/component picking
Mainly
globally
Large scale metallurgical
& chemical technologies
Stripped equipment & components
Mechanical preprocessing
Circuit boards & highly
complex materials
Complex metals
refining
Magnitude of losses in materials and value
Not collected
Landfill, incineration
or other losses
Lost in sidestreams
and wrong fractions
(e.g. Au in Al-fraction)
Transfer in slags or
other sidestreams
69

Significant losses of valuable raw materials still
occur due to non-collection and exports to Asia
About 40% of WEEE from
Europe (on all levels) is
exported, mainly to Asia, and
treated in the informal sector*
Bulk collected
(white, brown,
grey):
≈ 1,200 kt/y
Total EOL-Waste Electronical
and Electronic Equipment
(WEEE) ≈ 5,000 kt/y in the EU
Dismantling
Pre-processing
Collection (communities,
schemes, others)
... Of which bulk
with circuit boards
≈ 450 kt/y
Integrated metal
smelters & refiners
Precious Metals
bearing WEEE-parts:
» 45 kt/y
Total amount of Waste Electrical and Electronic Equipment ( WEEE) in the EU: » 5 million t/y (14 kg/person) but:
- only some 25% of WEEE is collected so far
- if collected, a substantial part is exported to Asia & Africa (mainly computers and telecommunication scrap)
- white goods – free of precious metals (PM) - represent biggest quantity of WEEE-collected
- only grey goods and brown goods bear PM’s and are of interest for integrated metal smelters & refiners
- WEEE usually requires adequate pre-processing to separate it into different fractions
- PM-bearing fractions in grey and brown goods only make up 5 – 10 % of the total weight.
*exports often falsely labelled as
„reuse“. Very low environmental
standard and inefficient processes.
Lack of control on exports and local
operations.
70

Material composition of e-scrap:
not too sexy on a closer look
E- scrap, a complex mix of:
w Ag, Au, Pd, … (precious metals)
w Cu, Al, Ni, Sn, Zn, Fe, … (base metals)
w Hg, Be, Pb, Cd, As, Sb, Bi, … (metals of concern!)
w Halogens (Br, F, Cl, ...)
w combustibles (plastics)
high risk of environmental damage if landfilled or if not treated
in an environmentally sound way
e-scrap contains valuable metals & resources and as such
represents a true surface mine, which must not be wasted
Most toxic & most valuable metals are contained in the circuit boards
71

Examples: Material composition of
circuit boards and some small
electrical devices
TV-boards
Cu
10%
Calculator (without battery)
Fe
3%
Al
10%
Al
5%
Others
18%
Plastics contain halogenated
flame retardants and/or Sb
Cu
3%
Glass
13%
Ag [ppm] 280
Au [ppm] 17
Pd [ppm] 10
Ni [%] 0,3
Pb [%]
Sn [%]
1,0
1,4 PC-boards
Others
15%
Fe
28%
Plastics
28%
Glass
6%
Ag [ppm] 260
Au [ppm] 50
Pd [ppm] 5
Ni [%] 0,5
Pb [%] 0,1
Sn [%] 0,2
Plastics
61%
Others
27%
Cu
20%
Al
5%
Cell Phone 1999
Cu
13%
Others
22%
Al
1% Fe
5%
Glass
2%
Note: indicative numbers only; value can differ significantly also within one category!
Ag [ppm] 1000
Au [ppm] 250
Pd [ppm] 110
Ni [%] 1
Pb [%] 1,5
Sn [%] 2,9
Fe
7%
Plastics
23%
Glass
18%
Ag [ppm] 1340
Au [ppm] 350
Pd [ppm] 210
Ni [%] 0,1
Pb [%] 0,3
Sn [%] 0,5
Plastics
57%
72

Plastics & steel contribute most to the weight, but
precious metals usually dominate the material
content value
Note: indicative numbers only; value can differ significantly also within one category!
weight-% plastics Fe Al Cu Ag [ppm] Au [ppm] Pd [ppm]
TV-board 28% 28% 10% 10% 280 20 10
PC-board 23% 7% 5% 20% 1000 250 110
mobile phone 56% 5% 1% 13% 1380 350 210
calculator 61% 4% 5% 3% 260 50 5
value-share Fe Al Cu Ag Au Pd sum PM
TV-board 4% 12% 43% 7% 27% 7% 41%
PC-board 0% 1% 15% 4% 68% 12% 84%
mobile phone 0% 0% 7% 4% 71% 18% 93%
calculator 0% 6% 11% 6% 74% 3% 83%
70%
A high recovery of precious metals (PM) is crucial for maximising value
return. Any PM-losses in dismantling and preprocessing should be
avoided, and metallurgical refining processes must show high recovery
efficiencies and a well controlled handling of hazardous substances.
73

Metal prices can be extremely volatile and heavily
impact the intrinsic metal value of e-scrap
USD / tonne
4500
4000
3500
3000
2500
2000
1500
1000
500
1985
1986
USD / troz
1987
1000
800
600
400
200
Cu
0
1988
1989
1990
1991
1992
Pd
1993
1994
1995
1996
88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05
1997
1998
1999
2000
2001
2002
2003
2004
2005
USD/troz
US cents/troz
500
450
400
350
300
250
800
750
700
650
600
550
500
450
400
350
300
1988
1988
1989
1989
1990
1991
Ag
1990
1991
Au
1992
1992
1993
1993
1994
1994
1995
1995
1996
1996
1997
1997
1998
1998
1999
1999
2000
2000
2001
2001
2002
2002
2003
2003
2004
2004
2005
2005
74

Some observations and conclusions
• Toxic or other harmful substances are usually concentrated in the circuit
boards, the same applies for the material content value.
• Any major loss of precious metals (PM) decreases drastically the net
recoverable value from electronic goods.
• Material composition can have a significant impact on recycling
requirements and adequate technical processes (incl. emission control).
• Mixing different qualities in collection/preprocessing can negatively
influence recycling returns (dilution, technical constraints).
• Legislation impacts material composition (and recycling requirements),
e.g. ROHS → ban on Pb, instead more Sn, Cu, Bi, Ag.
• Miniaturisation & technological progress impact material composition.
Tendency of decrease of absolute precious metals content in new models
(miniaturisation), but relative PM-% (per tonne) often more stable.
• New products can bring new compositions (e.g. MP 3 players, digital
cameras).
• New product generations can drastically change recycling requirements
(e.g. CRT glass → flat screens; video recorders → DVD recorders).
75

Electronic scrap in a global environment
• Today, large quantities of old cell phones, computers and other IT-equipment are
exported from Europe, North-America and Japan to Asia and increasingly also to
Africa.
• Many of these exports are falsely labelled as “reuse” (to circumvent restrictions
on waste exports). Controls of real physical streams are low.
• Every reuse is a temporary solution only and finally will lead to electronic-scrap
that needs to be recycled.
• Recycling requires awareness, an adequate infrastructure and some minimum
technology & experience. If this is not available, exports of electronics even for
”real reuse” in such regions can be environmentally counterproductive.
• More control and enforcement is needed to make sure that such exports are
really recycled in the importing country under high ESM standards.
• Small scale, “backyard” metals recovery from computer scrap using open sky
incineration and acid stripping methods release toxic
substances while yielding only low metal recoveries.
They impose considerable damage to the environment
and the health of local workers and neighbourhood.
• Transparency of material flows until the final destination is a key element.
76

Sampling of electronic scrap at Umicore
Example: the value of circuit
boards can differ significantly:
high grade: Au > 400 g/t
medium grade Au 200 - 400 g/t
low grade Au 100 - 200 g/t
very low grade Au < 100 g/t
Other precious metals contained: Ag, Pd, (Pt)
77

Digesting the element cocktail in a complex
separation process, using a unique metallurgy
...
Zn Ir HC Rh Fe
Hg Pt Ni SiO2 Te Se
Ru
AgCo
Au Cu
As
Pb
S Bi Sn Pd
Sb C Cd In Al2O3 Clean off gas Clean waste water
Sulfuric
Acid
Base & Special Metals
Pb, Cu, Ni,
Sb, Sn, Bi, Se, In, Te, As
Umicore Process
Recovery of
Metals & Energy
Precious Metals
Ag, Au,
Pt, Pd, Rh, Ir, , Ru ,
Dykefill
Betogrind
… to turn a difficult feed systematically into
recycled, useful products, while safely
recovering or isolating toxic substances
Controlled
depot
In
Bi
Ag
Pb
Sn
Au
Te
Pd
Cu
Sb
As
Se
Pt
Ni
Ir
Rh
Ru
78

Umicore’s IsaSmelt process can efficiently cope
with complex mixes of metals and plastics.
Stack
Bag
house
filter
Monthly
measurement of
dust, metals,
SO 2 , NO X , CO,
C tot
Filter dust Dust
HygienicIsaSmelt
Process Radiation
gasses furnace gasses chambre
Heat recovery:
High pressure
steam for internal
use
Adiabatic
cooler
Electrostatic
precipitator
Quenching
Water to Water
Treatment Plant
Sulphuric
Acid
Plant
Stack
Continuous
measurement
of SO 2 , NO X
Continuous
sampling for
dioxin
detection
Periodic
measurement of
dust, metals,
H 2 SO 4 , NO X , CO,
C tot, , HF, HCl
Plastics in the smelter feed can partially substitute
coke & fuel (feedstock recycling), an extensive offgas
treatment safely prevents any emission of dioxines.
79

The scope for recycling optimisation is the
entire WEEE recycling chain
WEEE
maximise
ecoefficiency
awareness
optimise
environmental
balance
optimise
economical
balance
Process technologies
Material composition
Information/
communication
Business ethics
legislation
Reuse,
Recycled materials,
energy recovery
w maximise material recycling (gain 1)
w minimise environmental damage (burden)
w consider environmental fingerprint of material (gain 2)
(Fe < Al < Au)
w maximise revenues from material recycling
w minimise total recycling costs (incl. sidestreams)
80

Interface optimisation to cope with technical
conflicts in metal recycling
Dismantling
& preprocessing
Concentration rate* %
Smelting &
refining
Investigate
for optimisation
The “concentration dilemma”
e.g. separating Cu + PM
from feed into own fraction
Recovery rate %
* in output stream
highest value & environmental impact for WEEE:
circuit boards with Au, Pd, Ag, Cu, (special metals)
=> minimise total chain losses of these metals
integrated smelters recover Cu, PM, NF- & special metals,
but Al is lost
Al-smelters recover Al, but Cu & PM are lost
all (NF-) metals are lost in landfill, incineration, plastic
recycling and steel plants
For complex, intensely interlinked „high grade“ materials, metallurgical
processes offer advantages over mechancial separation in efficiently
extracting precious & special metals as well as toxics
81

Avoid deep mechanical treatment of
“high grade” materials
PM-loss %
Fe Al
Recovery rate per
plastics
individually separated material %
100% 100% 100%
Every separation step bears the risk of coseparating
(losing) precious metals. This can
add up to significant PM-losses.
Accepting higher impurities of Fe, Al and
plastics in the Cu/PM-fraction generated in
pre-processing can boost the overall precious
metal recovery and thus the generated value.
High & medium grade boards, mobile phone
handsets etc. should directly enter into an
efficient, integrated metals smelter process.
Plastics contained therein can be utilised as
coke substitute (feedstock recycling).
Mutual interface optimisations by pre-processors and integrated smelters
leads to win/win-situations and an increased eco-efficiency
82

Find out the right window of optimisation
between preprocessing and smelting/refining
Costs
Area of optimisation
smelting costs
preprocessing costs (incl. landfill)
Preprocessing Intensity
precious
metal losses
83

Impact of metal losses along the
recycling chain
USD/t
8000
7000
6000
5000
4000
3000
2000
1000
0
TVboards
PCboards
cellphone
1999
cordless
phone
Metal prices for calculation (Oct. 2005, rounded)
Ag $/troz 7,4 = $/kg 238
Au $/troz 460 = $/kg 14789
Pd $/troz 190 = $/kg 6109
Cu $/mt 4000 = $/kg 4,00
Al $/mt 1100 = $/kg 1,10
Fe $/mt 140 = $/kg 0,14
* gross metal value without considering
any losses during recycling nor any
recycling costs. The more efficient the
recycling chain is, the more of this value
can be recovered → net value.
Fe
Al
Cu
Pd
Au
Ag
Assumption: loss of 20% of Ag, Au, Pd, Cu, Al, Fe
Note: indicative numbers only; value can differ significantly also within one category!
gross intrinsic
value*
value share per metal
USD/tonne Ag/Au/Pd Cu Al Fe
TV boards 900 41% 43% 12% 4%
PC-boards 5400 84% 15% 1% 0%
cell phones 6400 93% 7% 0% 0%
metal loss
20% total loss loss per metal in USD / tonne
USD/tonne Ag/Au/Pd Cu Al Fe
TV boards 180 74 77 22 7
PC-boards 1080 907 162 11 0
cell phones 1280 1190 90 0 0
For many electronic devices, losing Al or Fe has only a marginal impact on net
value. Highest attention has to be placed on avoiding losses of precious metals!
84

How realistic is a 20% (precious) metal
loss along the e-scrap recycling chain ?
E-scrap / circuit boards - a highly complex material, especially valid with respect to
precious metals distribution.
Occurrence of PMs with:
• metallics: contacts, connector, solders, hard disk drives,...
• ceramics: Multi layer capacitors (MLCC), ICs, hybrid ceramics, ...
• plastics: ICs, PCB-tracks, inter-board layers, ...
→ Most of the PM containing parts on circuit boards and small devices (cell phones etc.) are
closely interlinked with one another and PMs are highly disseminated.
→ Shredding cannot really liberalise the different materials/metals. Shredded parts still are a
partial mix of plastics, Fe, Al, Cu and PMs.
→ Sorting of these shredded parts by traditional separation technics (magnetic, eddy current,
etc.) leads automatically to often substantial losses of PMs in the Fe-, Al-or plastic fractions.
→ Fine shredding can improve the liberalisation but generates even more dust which is difficult
to handle and also carries PM.
If circuit boards or small devices are preprocessed by shredding & sorting, a loss of 20% PMs
is realistic, also higher losses do occur.
If shredding cannot be avoided (low grade materials), a coarse shredding process followed by
manual or optical sorting could be a valid alternative.
85

Example:
Eco-efficiency of mobile phone recycling
The „direct smelter route“ was proven
to be the most eco-efficient solution
(source: J. Huisman, TU Delft)
Environmental weight: how much
environmental impact/burden by
producing 1 kg of a metal?
86

An example for Umicore’s solution
for complex materials recycling
Umicore output
Recovered as
metal
Chemical use
as process
additive
Transfer into
an inert slag
(product)
Neutralised
in effluents
Isolation and
safe deposit
87

Some observations and conclusions
• Dismantling, mechanical preprocessing and smelting/refining of e-scrap are
highly interdependent.
• Interface optimisation is needed to minimise value losses (= PM-losses).
Metallurgical liberalisation and sorting (=smelting) is a valid alternative to deep
mechanical preprocessing of circuit boards and small “high grade” devices.
• Economies of scale are the more important the more one goes downstream in
the recycling chain.
• State-of-the-art technology requires considerable investments in equipment,
process and infrastructure, again the higher the more downstream it is.
• Specialisation and expertise is key to a successful operation. Investment risks
and technical risks are high.
• An (international) share of labour has
resulted thereof, emphasising individual
core competencies. While collection,
dismantling, preprocessing usually takes
place on a national/regional level, smelting
& refining is conducted globally by a
handful of specialised companies.
Mainly
locally
Sorting/dismantling/component picking
Mainly
globally
Large scale metallurgical
& chemical technologies
Collection
Entire EOL-devices
Stripped equipment & components
Mechanical preprocessing
Circuit boards & highly
complex materials
Complex metals
refining
88

It needs a global network of partners ...
... to offer much more than just technical solutions.
We invite other market participants to join us in the development of
appropriate measures to further increase recycling efficiency, promoting
best-practice quality standards and environmentally sound operations.
89

Conclusion
• Integrated smelters offer unique, eco-efficient possibilities to recover precious, base
and special metals, while using organic residues as substitute for coke & fuel, and
safely handling toxic elements. Sufficient capacity is available.
• For such plants high investments, state-of-the-art technology and extensive efforts in
offgas- & waste water treatment are required. Umicore’s Hoboken plant has been
developed to the most advanced processor of precious metals containing WEEE.
• Not any „copper smelter“ can treat e-scrap - only a handful of integrated smelters
worldwide have all the necessary installations.
• Integrated smelters can contribute significantly to further optimise the WEEE recycling
chain, in close cooperation with pre-processors (interface optimisation).
• Growing exports of WEEE and its fractions are a threat to the European recycling
industry - valuable recourses are lost and often exported materials are treated in
environmentally non-compliant ways.
• Future availabilties of e-scrap in Europe will be much lower than expected due to large
WEEE-export streams to Asia and Africa.
• Monitoring & control of material streams, transparency and business ethics are key.
90

Our Core Business
Sampling &
Assaying
Metals Sales
Recycling & Refining
Raw Materials
Supply
Customer Support
SUSTAINABLE
DEVELOPMENT
91

Spent Auto Catalysts Recycling
www.autocatalyst-recycling.umicore.com
92

Spent automotive catalysts: Scope
Umicore Precious Metals Refining has been active in spent
autocatalyst recovery for many years.
It is currently processing material from all over the world.
Transactions may imply “as is” purchase or toll refining.
A state-of-the-art weighing and sampling combined with a
unique smelting and refining process guarantees optimum yield
to the supplier.
Additional services such as forward pricing, financing etc can
be offered as well.
93

Some history
For more than 20 years, Umicore Precious Metals has been active in
the recovery of autocatalysts from North America, where the first
mandatory use of catalytic converters was implemented in 1975.
Since 1991, Umicore’s supply also includes material from its own
subsidiary, Umicore Bowden (Covington, TN).
In Europe, first volumes showed up at the end of the 80ies
(Germany, Scandinavia) and have continuously grown since
then.
By the late nineties, volumes have started to emerge from
other continents as well.
94

Modes of operation
or
“AS IS” basis
= outright sale of converters or monolith material
(per piece, per kg, …)
“ASSAY” basis
= precious metal recovery on toll refining transaction
95

“AS IS” - Fundamentals
Pricing (spot) per unit converter or unit weight,
as a function of estimated weight of monolith,
precious metal assay,
precious metal prices,
costs.
In practice, use of a regularly updated price list, with
or without brand/size/type differentiation.
96

“AS IS” - Pros and Cons
+ Very simple formula: price/unit
+ Easy administration
+ Immediate payment: no fluid assets problems
+ No price risk
+ No expertise necessary for sale of precious metals
- The supplier has to develop an expertise on his own
regarding the quality of the various converters.
- Little transparency: the supplier has no real idea of the
different components influencing the price offered.
- There is more than just the price ...
97

“ASSAY” - Fundamentals
Recovery of Pt, Pd, Rh on toll treatment :
weighing / counting+decanning+weighing,
crushing,
sampling,
assaying,
allowing actual determination of Pt, Pd, Rh content.
This is followed by credit to metal account,
for subsequent account-to-account transfer,
sale to Umicore Precious Metals,
physical delivery,
subject to payment of contractual processing costs.
98

“ASSAY” - Pros and Cons
+ Transparency: customer knows the exact metal content and
receives corresponding return.
+ Potential for highest yield: no cushion for covering against
quality and price risks, since the settlement is based on the
actual weight and precious metal assay.
- Waiting for metal credit means long financing period.
- Marketing the precious metals requires some expertise.
- Price risk until actual sale of the recovered metals, unless
estimated metals content have been hedged.
- More complicated formulas and administration.
99

Converter reception & decanning
Weighing (if required)
Counting
Grading (full, half, empty)
Sorting (if required)
Decanning,
with proper attention to safety and
dust collection
100

Weighing & Sampling
Tailor-made, dedicated weighing
and sampling line for broken
honeycomb
A thorough sampling procedure to
guarantee maximum representativity
of the retained sample.
Presence of customer representative
or independent witness
ISO 9001 certified
Generally recognised as ‘first in class’
Weighing
Emptying &
separation of waste
Shredder 6 mm
< 6 mm
Primary Sampler
7 - 10%
Secondary Sampler
1 – 2%
101

Process
2
1
3
Cu-smelter (1):
collection of precious
metals on Cu
LEW (2):
Leaching and ElectroWinning of Cu
Precious Metals refinery (3)
High flexibility in terms of
- quality (PGM, carrier, impurities)
- quantity
102

Spent autocatalyst operations within UPMR
Who
Where 1
Where 2
Cycleon SA Asnières France X
Contracting
Umicore Autocatalyst Recycling Belgium NV Hoboken Belgium X X
Umicore Autocatalyst Recycling USA Covington, TN USA X X
Decanning
Umicore Autocatalyst Recycling GmbH Alzenau Germany X X
UPMR Hanau (Umicore AG & Co KG) Hanau Germany X X
UPMR Brasil (Umicore Brasil Ltda) Sao Paulo Brasil X X X
UPMR Hoboken (Umicore NV) Hoboken Belgium X X X X
W&S
Smelting
PGM Refining
103

Umicore serves the complete PGM life-cycle
PGM Compounds
Precious Metal
Management
New Catalyst Production
PGM Refining
New Vehicle Production
End of life Scrap
Catalyst Collection
104

Additional services
Precious Metals Management :
metal accounts
geographical metal swaps
leasing (early metal outturn)
purchase
forward pricing
financing
Assistance with in-bound shipping
Global presence
105

Conclusion: Why us ?
General
“AS IS”
“ASSAY”
Committed - Long term vision
Flexible
Reliable
Financially stable
Fair grading
Fair price
Transparent
State-of-the-art weighing and sampling
Best overall value
106

Contact: Philippe Van Maele
Manager Raw Materials Supply, Spent Catalysts
address: Adolf Greinerstraat 14
2660 Hoboken
Belgium
Tel: +32 3 821.79.85
Fax: + 32 3 821 78 07
Mobile: +32 475 64.47.12
e-mail: philippe.vanmaele@umicore.com

Our Core Business
Sampling &
Assaying
Metals Sales
Recycling & Refining
Raw Materials
Supply
Customer Support
SUSTAINABLE
DEVELOPMENT
108

Spent Industrial catalysts Recycling
www.industrialcatalyst-recycling.umicore.com
109

Spent Industrial catalysts: Scope
Umicore’s unique smelting and refining capabilities allow the
recovery of precious metals from a wide variety of industrial
spent catalysts.
Its high flexibility makes it possible to cope with any type of
carrier and with unregenerated catalysts, containing a high
level of impurities.
Additional services can be offered in the form of a package.
110

Process
2
1
3
Cu-smelter (1):
collection of precious metals on Cu
LEW (2):
Leaching and Electrowinning of Cu
Precious Metals refinery (3)
High flexibility in terms of
- quality (impurities, carriers, PM)
- quantity
111

Acceptable Spent Catalyst Properties
Include
A high presence of coke (no trashburn) and/or hydrocarbons
Nuisance elements
Fines
Support balls
by catalyst design, eg Cl -
caused by process contamination, eg Fe, As
Base metal catalyst fractions
Any type of carrier
112

Weighing & Sampling
113

Weighing & Sampling
A thorough sampling procedure to guarantee maximum
representatively of the retained sample.
Presence of customer representative or independent
witness
No pretreatment losses
ISO 9001 & ISO 14001 certified
Generally recognised as ‘first in class’
114

Additional Services
Precious Metals Management:
metal accounts
Assistance with Transfrontier Movement of Waste
Global presence
geographical metal swaps
leasing possibilities (early metal outturn; bridge lease…)
forward pricing
115

Conclusion
Flexible
complex multiple precious metal catalysts
unscreened & unregenerated ‘polluted’ catalysts
Process Reliability
fast, efficient & representative sampling
adequate assaying
possible to use umpire laboratory in case of discrepancies
116

Conclusion
Financial Reliability
Service
Competitive
sound balance sheet
long tradition
a wide variety of precious metal related services
117

Contact: Frank Bastenie
Michel Verhelst
Address: Adolf Greinerstraat 14
2660 Hoboken
Belgium
Tel: +32 3 821.74.13 / +32 3 821.73.06
e-mail: frank.bastenie@umicore.com
michel.verhelst@umicore.com

Industrial by-products
Tankhouse slimes from the copper, lead and tin industry
Dross, matte & speiss from the lead industry
Lead sulphate and copper cement from the zinc industry
Flue dust from the nickel and precious metals industry
119

Our Core Business
Sampling &
Assaying
Metals Sales
Recycling & Refining
Raw Materials
Supply
Customer Support
SUSTAINABLE
DEVELOPMENT
120

Tree Structure Business Presentation
Level
0.
Umicore
1.
UPMR general &
core business
2.
Sub business
3.
Details
Byprod.
1
A. Supply
Ind.
cats
Auto
cats
B. Sales
Escrap
1 1 1
Homepage
Exploring Umicore
Exploring UPMR
Our core business
C. Customer
Support
D. Recycling
& Refining
Flow
sheet 1
E. Sampling
& Assaying
F. Sustainable
Development
1 1 1
1
1 1
PM
2
BM &
SM 1
Additional info
121

Detailed structure Business Presentation (1)
Base presentation
(pages)
1
2 to 5
6 to 7
8 to 13
14
Sub presentation
(pages)
5.1 to 5.4
Content
Homepage
Exploring Umicore, part 1
Additional info Umicore
Exploring Umicore, part 2
Exploring UPMR
Pivot page “Core
Business” for further
presentation
Comments
By clicking on the “additional info” button of slide 5
you will turn up at the additional info. Once this
sub-presentation comes to an end you will arrive to
part 2 of Exploring Umicore.
By clicking on the grey boxes of the specific
presentations (and on the green text for Sustainable
Development) you will turn up at right presentation.
There is no particular order to follow in het choice
of the presentations. Once a specific presentation
comes to an end, you will automatically return to the
122
pivot page “Core Business”.

Detailed structure Business Presentation (2)
Base presentation
(pages)
A1
A2
A3
Sub presentation
(pages)
A. RAW MATERIAL SUPPLY
A2.BP.1
A2.IC.1-?
A2.ES.1-?
A2.AC.1-?
Content
Home page
Types of raw materials
Add. info By-products
Add. info Industrial cats
Add. info E-scrap
Add. iInfo auto cats
Supply distribution
Comments
By clicking on one of the pictures you will turn up at
the right sub-presentation and automatically return
to the pivot page “Core Business” once the specific
presentation comes to an end.
123

Detailed structure Business Presentation (3)
Base presentation
(pages)
B. METALS SALES
B1
B2 to B3
B4
C1
C2 – C4
Sub presentation
(pages)
B3.PM.1-3
B4.BM.1-3
C. CUSTOMER SUPPORT
Content
Home page
Precious Metals
Add. info Precious Metals
Base & Special Metals
Add. Info Base & Special
Metals
Home page
Info Customer Support
Comments
By clicking on the “additional info” button you will
turn up at the specific presentation.
By clicking on the “additional info” button you will
turn up at the specific presentation.
124

Detailed structure Business Presentation (4)
Base presentation
(pages)
D1
D2
E1
E2 – E6
F1
F2 – F10
Sub presentation
(pages)
D. RECYCLING & REFINING
D2.FS.1-6
E. SAMPLING & ASSAYING
F. SUSTAINABLE DEVELOPMENT
Content
Home page
Flow sheet
Add. info Flow sheet
Home page
Info Sampling & Assaying
Home page
Info sustainable Development
Comments
By clicking on the “additional info” button you will
turn up at the specific presentation. Be aware that
you will not return to the flow sheet, but to the pivot
page “Core Business”.
125