- Write by:
-
Friday, March 11, 2022 - 13:15:30
-
476 Visit
-
Print
Mining News Pro - State Farm said Thursday that metal thieves in search of platinum, rhodium and palladium are stealing catalytic converters in ever-greater numbers, sending auto-insurance claims soaring across the U.S.
Last year, State Farm paid $62.6 million for 32,265 catalytic converter theft claims nationally — a 1,173% increase from 2019.
“It’s the metals in general that are valuable,” said Amy Harris, a State Farm spokeswoman, in a phone interview. “The owner comes out to their car, the car won’t start, and they eventually figure out that the catalytic converter has been removed.”
A catalytic converter is an emissions-control device that’s in the exhaust system under many gas-powered vehicles. State Farm doesn’t track which models are targeted most often, but thieves tend to hit smaller, lighter cars that are left unattended in parking lots. California, the nation’s largest auto market, accounted for more than a quarter of catalytic converter claims in 2021.
The problem may get worse as the war in Ukraine has sparked a surge in commodities prices. Russia produces almost 40% of mined palladium in the world, second behind South Africa, according to the U.S. Geological Survey.
Short Link:
https://www.miningnews.ir/En/News/620869
BHP’s plan to divest the South African assets of its target Anglo American are key to the strategy behind the proposed ...
Anglo American CEO Duncan Wanblad is meeting on Friday South African mines minister Gwede Mantashe for the first time ...
BHP Group (ASX: BHP) has deployed a senior team including its chief executive officer to South Africa as the world’s ...
A takeover of Anglo American Plc would need to be pitched at more than £30 ($37.6) per share, a higher price than BHP ...
BHP Group can’t cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, ...
BHP Group Ltd.’s proposal for Anglo American Plc to spin off platinum and iron ore units before a takeover would likely ...
When former boss Mark Cutifani left Anglo American Plc in mid-April 2022, things had rarely looked better for the ...
Impala Platinum could cut 3,900 jobs as it restructures its South African operations due to lower metal prices, the ...
Anglo American Plc said it is has received an unsolicited non-binding combination proposal from BHP Group.
No comments have been posted yet ...