ThomasNet.com

 

 

 

Earlier this year, four 100-pound drums filled with palladium—which is comparable in value to gold—were stolen from a chemical plant in Georgetown, South Carolina, by thieves who accessed the facility by cruising up the Sampit River, which is known to be home to alligators.

3V Sigma USA, which manufactures specialty chemicals from synthetic polymers to organic chemistry molecules, was housing the palladium, which is mined domestically in Montana but primarily sourced from Russia and South Africa. The masked bandits, who were seen on surveillance videos, knew how to navigate the river, quickly loaded their vessel, and absconded with the precious metal.

According to an article in The Post and Courier, the value of palladium has risen in recent years and with it an increase in the theft of catalytic converters, which contain the metal for this purpose.

“Its value has invited the interest of thieves, as reports of stolen catalytic converters regularly make headlines in news outlets across the globe. 

This month, a Philadelphia television station reported that one person’s van was stripped of the palladium-laden device by a group of thieves. It was the second time the person’s car was vandalized for the converter, according to the report. 

Also this month, in Oxford, England, thieves targeted vehicles at park-and-rides. And in Berkeley, Calif., converters from dozens of vehicles were stolen in recent weeks.”

3V didn’t report the theft until 5 days after the heist, and the crime remains unsolved.

Main Image Credit/Caption: Brad Nettles (The Post & Courier) / 3V chemical plant located in Georgetown, South Carolina, the site of palladium heist. 

Read more:

“Midnight Thieves Swipe $300,000 Worth of Precious Metal” (ThomasNet.com)

“Experienced Thieves Steal $300,000 Worth of Precious Metal in Overnight Heist on SC River” (The Post & Courier)