Industry Analysis & Industry Trends
Since there are currently no commercial precious metal mines in the United Kingdom, operators in the Precious Metals Production industry recycle gold, silver and platinum group metals from a range of materials. Platinum sales are heavily influenced by the automotive industry as the commodity is used to manufacture catalytic converters, which help to clean exhaust gases. Gold and silver are both used to make jewellery and have a variety of industrial uses, but they are also popular with investors, who see them as a safe haven for their money when returns elsewhere are uncertain. This investment demand means gold and silver prices fluctuate much more radically than would otherwise be expected.
Fluctuations in global financial markets mean industry revenue has been very volatile... purchase to read more
Industry Report - Starting a New Business Chapter
The barriers to entering the Precious Metals Production industry are high, due to the expense of machinery. The industry's machinery is highly specialised and it is usually more profitable for it to operate at high capacities. However, this means firms need to have access to sufficient volumes of inputs. Unless a new firm chooses to specialise in processing a particular type of waste material, in which case it might struggle to find enough volume, it will need to have the chemicals and machinery necessary to deal with a wide variety of input materials. This raises the cost of setting up. Operators may also need to obtain environmental permits and certification if their facilities produce hazardous substances... purchase to read more