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 group metals sales are heavily influenced by the automotive industry as the commodity is used to manufacture catalytic converters, which help to clean exhaust gases. In general, platinum is used in the catalysts for diesel vehicles and palladium for petrol vehicles. Gold and silver are both used to make jewellery and have a variety of industrial uses, but they are also popular with investors, who consider them a safe haven for their money when returns elsewhere are uncertain... purchase to read more
Industry Report - Industry Investment Chapter
The level of capital intensity in the Precious Metals Production industry is medium. For every £1.00 industry operators spend on capital, IBISWorld estimates that £5.93 is spent on labour. However, spending on labour tends to increase in years of high demand, as companies may either employ more workers or ask the existing ones to work overtime, which attracts higher spending on wages. Moreover, workers tend to be highly skilled. During the past five years, the average wage in the industry has fluctuated and is expected to reach over £37,000 in 2016-17.
The production of precious metal ingots that meet the global minimum standard of 99.9% purity requires that equipment such as furnaces be kept in good working condition and replaced as necessary. The.. purchase to read more