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Old cell phones worth more ton for ton than a gold mine

A process called “urban mining” may have many rethinking simply throwing their old electronics into the trash can or tossing them into the junk drawer to collect dust. The so-called urban mining describes a process where old electronics like computers and cell phones are scavenged and ripped apart for their base metals like iridium and gold.

With metal prices hitting all time highs around the world, the urban mining business is booming. The metals recovered from the process are reused in new electronic devices and the gold and other precious metals are melted into ingots that can be used to create jewelry or used to create new electronic devices.

Gold is common in many electronic devices and components for its ability to better transfer electricity than copper. Tadahiko Sekigawa, president of Eco-System Recycling Co. told Reuters, “It can be precious or minor metals, we want to recycle whatever we can.”

It might not seem like there would be enough gold or other precious metals inside obsolete electronics to warrant the effort of recycling. On the contrary, used electronic devices are often a much better source of gold than actually having a small gold mine.

According to Reuters a ton of ore form a gold mine produces only 5 grams of gold on average. A ton of used cell phones can yield 150 grams of gold or more. In addition to the gold the same volume of discarded phones can have 220 pounds of copper and 6.6 pounds of silver as well as other metals.

The price of gold alone hit an all time high in March 2008 of $1,030.80 per ounce. One Eco-Systems recycling plant in Honjo, Japan produces around 440 to 660 pounds of gold bars per month with 99.99% purity. This amount of gold has a worth of about $5.9 to $8.8 million on today’s market. That's literally the same output as a small gold mine.

When the amount of money that can be made from recycling old electronic components for their base metals is taken into consideration it is easy to understand why Clover Technologies Group, the winner of the contract with the USPS for its mail-in recycling project, was willing to foot the bill for shipping. The amount of money also makes the fact that America ships tons of used electronics overseas each year look like American’s are doing someone a favor.

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RE: Free phone recycling!
By FITCamaro on 4/30/2008 3:14:33 PM , Rating: 3
Its happening in many abandoned buildings and construction sites. Regardless of where you are.

RE: Free phone recycling!
By Laitainion on 4/30/2008 3:30:58 PM , Rating: 2
My train to York's been delayed before because the copper wiring (used to control the signals) was taken. While it was live, obviously since you can't just turn off the signalling system.

RE: Free phone recycling!
By nosfe on 4/30/2008 4:04:08 PM , Rating: 5
copper wiring? whats that? here in Romania you hear every now and then of people stealing the train rails!

RE: Free phone recycling!
By nugundam93 on 4/30/2008 5:53:41 PM , Rating: 2
hahahaha they steal copper wires from phone cables and even the metals from bridge rails, manhole covers, etc. in the philippines.

RE: Free phone recycling!
By rajaf on 4/30/2008 7:21:57 PM , Rating: 2
They do that in Romania too... they will steal entire sections of railroad and all the wiring along side it... some people...

RE: Free phone recycling!
By rollakid on 5/1/2008 3:44:26 AM , Rating: 2
Same too in Malaysia. Manhole covers, drain covers, street signs, even my alloy wheel airvalve cap fall victim.

Oh, they raid those unmanned recycling booth/center too, the type that you just put the stuff there.

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