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Precious Metal News

20 Nov 2023

Oxidation Catalyst Project Aims for 70% Methane Slip Reduction

View from the testbed in Frederikshavn courtesy of MAN

MAN Energy Solutions has announced that it is developing an oxidation catalyst for four-stroke engines that will significantly reduce methane slip. Called ‘IMOKAT II’ and developed at MAN Energy Solutions’ headquarters in Augsburg, Germany, the research project is currently undergoing testing at the company’s Frederikshavn, Denmark facility.Funded by the German Federal Ministry for Economics and Climate Action, the new project will investigate the operational experience of a pre-turbo methane-oxidation catalyst…

06 Jan 2014

Johnson Matthey Catalyst Selectively Reduces CO Emissions

“Compliance with both RICE NESHAP and Opacity Limits is now possible with this catalyst that selectively oxidizes CO, but not NO. Precious metal catalysts are widely used in HAPs converters to reduce CO emissions from IC engines in order to comply with the EPA’s RICE NESHAP regulation. Platinum catalysts also convert the nitric oxide (NO) in the engine exhaust to nitrogen dioxide (NO2), which under certain conditions can produce a visible plume and cause an opacity problem. To solve this dilemma…

22 Jul 2013

Odyssey Recovers 1.8 Million Ounces of Silver From Shipwreck

Gairsoppa - Silver

The latest recovery from SS Gairsoppa reportedly set the world record for deepest, largest precious metal recovery. Odyssey Marine Exploration said it has recovered more than 61 tons of silver bullion this month from a depth of nearly three miles. This recovery of bullion from the SS Gairsoppa, a 412-foot steel-hulled British cargo ship that sank in February 1941, consists of 1,574 silver ingots weighing about 1,100 ounces each or almost 1.8 million troy ounces in total, sets a new record for the deepest and largest precious metal recovery from a shipwreck.

19 Apr 2013

Salvors to Show Treasure in NY Times Square

Manipulating recovery of a gold bar: Image courtesy of Odyssey Marine Exploration

At Discovery Times Square, New York, Odyssey Marine Exploration will show silver recovered from the 'SS Gairsoppa' shipwreck. The company's multi-media traveling exhibit, 'Shipwreck' opens at Discovery Times Square in New York City on May 24, 2013 for the first public unveilling of silver bullion recovered from the World War II-era SS Gairsoppa shipwreck. Silver which lay approximately three miles deep, will be on display in the first public showing of some of the 1,218 silver bars (approximately 48 tons) of silver recovered to date from the Gairsoppa…

18 Jul 2012

Odyssey: First Load of Silver Cargo From Three Miles Deep

Odyssey Marine Exploration (Nasdaq:OMEX), announced it has successfully recovered approximately 48 tons of silver bullion from a depth of approximately three miles. This initial recovery of bullion from the SS Gairsoppa, a 412-foot steel-hulled British cargo ship that sank in February 1941, totals 1,203 silver bars or approximately 1.4 million troy ounces of silver and has been transported to a secure facility in the United Kingdom. After unloading the cargo, taking on fuel and changing  personnel, recovery operations will continue and are expected to be completed in the third quarter of 2012.This record-breaking operation has so far produced the heaviest and deepest recovery of precious metals from a shipwreck.

12 Jun 2012

Treasure Hunters Contract Bullion Processors

Odyssey Marine Exploration, pioneers in the field of deep-ocean exploration, announce their contract with JBR Recovery Limited to support the logistics, refining and monetization of the anticipated silver cargoes from SS Gairsoppa and SS Mantola when recovered. Both the Gairsoppa and Mantola projects are being conducted under contract with the UK Department for Transport. Under these contracts, which follow standard commercial practices, Odyssey will retain 80% of the net salved value of the cargoes after recovery of expenses. Both merchant ships were torpedoed by German submarines, the Gairsoppa during WWII and the Mantola during WWI. During those wars, the UK government insured privately owned cargo under their War Risk Insurance program.

11 May 2010

Fourth High-Speed Environmentally Friendly Ferry

Photo courtesy Kvichak Marine

Kvichak Marine Industries and Nichols Brothers Boat Builders recently delivered M/V Taurus, their fourth high-speed, environmentally friendly ferry to the Water Emergency Transportation Authority (WETA) located in San Francisco. WETA mandated that their new passenger ferries integrate as much green technology as possible and that emissions be 85% cleaner than the current EPA emission standards for Tier II (2007) marine engines. They started with a sleek, low wake 118-ft catamaran hull, designed by Incat Crowther of Australia, to minimize shore erosion from wake and reduce fuel consumption.