How much is scrap metal worth, anyway

Some may remember the story of the My Golden Ray, the cargo ship that capsized taking 4,000 Hyundais to the briny deep because it was mis-loaded. They’re bringing it up, one huge piece at a time, and it makes me wonder how the enormous effort is worth it - except it obviously is or they wouldn’t be doing it.

Here, the “interesting engineering” story:


4,000 platinum catalytic converters?

How Much Is The Platinum In A Catalytic Converter Worth ?

The average catalytic converter has 3 to 7 grams of platinum worth about $100 – $237. Platinum is more valuable than gold, silver, and even palladium and is a good target for thieves.

$400,000 to $948,000

The Captain

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Here’s a photo of the big boat:


Thanks Goofy. I hadn’t seen this one before. I do remember the article in Car & Driver from a few months after the article you posted ( Ship Happens: How the Golden Ray's Final Voyage Went Wrong in a Hurry ), which has a more comprehensive description of what happened and what went wrong, but the pics in the ‘’ are better :smile:


It ain’t only scrap metal in the depths.


One has to wonder what kind of ecological disasters that can cause.

Open seabed mining? With oil and gas they try to cap the wells. It seems to me that ‘capping’ a mineral mine could be a lot more difficult and working at those depth is difficult and dangerous. Once I had a deep-sea diver crew on my boat. He worked in the North Atlantic (Norway?) oil rigs. In two or three weeks he made enough money for the whole year. He was not allowed to work there for more than that time so he went sailing.

The Captain