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German technology firm to open precious metals refinery in China with US$100M

German technology group Heraeus Holding GmbH is planning to open a precious metals refinery in China's Jiangsu province in September with a US$100 million investment, Reuters reported June 14.

The facility will produce and supply precious metal-based products to industries including auto, glass and fertilizer. Andre Christl, the head of Heraeus Precious Metals, said demand for platinum group metals is very strong in China.

"We already have some refining capacity in China. With higher demands expected, we've decided to consolidate and expand those into one big factory where we can do refining but also chemical products," Christl said.

The 84,000-square-meter plant will employ up to 350 people at full capacity.