This would be great if they would pass the savings on to us, but I’m sure it will just mean more profit from a diesel car. Anyway, from nationalpost.com

In the precious metals universe, high gold and silver prices get the most attention. But the star performer in the sector is probably platinum - prices are up well over 50% in the last year because of power shortages in South Africa, the world’s biggest producer.

With that in mind, a Japanese company called Mitsui Mining and Smelting claims it has developed a new silver catalyst for diesel engines that would replace the ones made from platinum.

If the technology works, it could lower the cost of the precious metals component in diesel filters by more than 90%, simply because of the difference in the price of the two metals. Silver currently changes hands for about US$17 an ounce, while platinum is more than US$2,000 an ounce.

The platinum catalyst is used to burn the soot off of diesel filters, which trap the emissions produced by burning diesel fuel. Whether silver can do the same is an open question, as there are concerns that the silver will vapourize at high temperatures and that it is not as effective as a catalyst.

Demand for diesel-fueled cars is strong in many parts of the world, as they are generally more fuel-efficient than cars that run on regular gasoline and produce less emissions. That in turn has pushed up demand for platinum.