Lifezone Metals Limited (NYSE: LZM) announced it produced platinum, palladium and rhodium from U.S.-sourced spent automotive catalytic converters using its hydrometallurgical technology.

The company completed 1,179 locked-cycle and pilot batch tests over 24 months, processing one ton of U.S.-sourced catalytic converter material. The tests demonstrated recovery rates exceeding 99% for platinum and palladium, and 95% for rhodium, according to a company press release.

Chief Executive Officer Chris Showalter said the production marks "a historic milestone towards industrial implementation of Lifezone's Hydromet Technology." The company's first module could produce 220,000 ounces of platinum group metals annually.

The work was conducted at Lifezone's Simulus Laboratories in Perth, Australia, to inform design criteria for a planned catalytic converter recycling refinery in the United States. The company targets metal purities exceeding 99.95% for platinum and palladium and above 99.9% for rhodium.

Glencore has invested $1.5 million for a 6% stake in the project and holds an option to fund 50% of the project capital. A financial investment decision for a commercial U.S. plant is anticipated in the second quarter of 2026.

The United States imports approximately 2 million ounces of platinum group metals annually, primarily from South Africa and Russia. These metals are used in automotive emissions systems, defense and aerospace manufacturing, medical technologies, and hydrogen and fuel-cell applications.

Lifezone's hydrometallurgical process is expected to produce lower carbon dioxide emissions per ton of metal compared to traditional smelting and refining technologies, with zero sulfur dioxide emissions.