Catalytic converters contain a catalyst that helps convert pollutants like smog in exhaust systems into less harmful ones. Most vehicles that run on gasoline, including buses, trucks, motorcycles and automobiles have exhaust systems that use catalytic converters. In 2022, 5548 converters were stolen from motor vehicles in New York City. 

The running battles that law enforcement is having with catalytic converter thieves illustrate how valuable the platinum group metals that go into these vehicle components are. As companies like Platinum Group Metals Ltd. (NYSE American: PLG) (TSX: PTM) progress with their operations aimed at…

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