ROCHESTER, Minn. – A new generation of car thief is crawling underneath to cut loose emission-control catalytic converters whose metal palladium sells for $2,200 an ounce. It takes two minutes. Police have been called for 21 catalytic converters cut thefts since November 1. Most susceptible because of their design are Honda Odysseys and Toyota Priuses, police said.
Rare metal
Palladium is mined in South Africa, Russia, Ontario and Montana, but most comes from scrapped automobiles. Palladium in catalytic converters in autos change as much as 90% of harmful exhaust gasses into less noxious nitrogen, carbon dioxide and water vapor.