4metals said:Exactly but they don't pay on it- they keep it themselves.
If they are smelting the material, as many do, the expense of recovering an oxide of the metal encased in glassy slags may greatly exceed the value. Even with tin at $10 a pound that's only 68¢ a troy ounce. Nickel at 64¢ and zinc at 8¢.
The tin, and nickel, and zinc form oxides that will slag off when smelted with the proper flux. The copper forms an oxide that decomposes and returns the copper to the molten pool as metallic copper. So the slag may be rich (relatively speaking) in tin, nickel or zinc but it is usually sold off as a waste to a base metal refiner and paid on, if concentrated enough, and if it covers the refining fee's (if lucky) at a fraction of it's already low value.
So I don't think your refiners getting rich on the base metals, and they're paying on the copper they refine, along with the PM's.
Thanks 4metals. Still sucky though! 8) 8)
Some of the older material is genuinely laden in either/both of those metals though so it does "bite."