Electronic Waste Market Attracts Jewellery Producers
Wednesday, July 3, 2019 - 16:21:14
The untapped potential of old mobile phones is not just something that recycling companies are interested in exploiting, as the Financial Times reports that a new trend of jewellery manufacturers looking into e-waste for precious resources required for their trade.
Used smartphones contain a variety of valuable metals and minerals which are relevant to a variety of industries, and in many cases these are reclaimed in order to be reused to produce new electronic devices. However, since gold, silver and platinum are all sought after in the jewellery world, it makes sense that there would also be demand for recyclable e-waste here.
A report from the UN proved that mobile phones are an even richer source of gold than the ore which is mined from the ground, since the per-tonne gold content is significantly higher in the former than in the latter.
Today the jewellery industry snaps up around half of the gold that is produced worldwide, but it could make even more sense for producers to turn to the e-waste recycling sector if they want a more affordable way to buy this precious metal.
Experts are eager to push the e-waste agenda in the jewellery industry not just for economic reasons but also because it will be a more sustainable and environmentally friendly alternative to disruptive, ethically problematic mining operations.
Indeed, if jewellery manufacturers stopped funding mines and instead bought into electronics recycling to procure the materials they need, many of the current issues associated with this industry would be solved very quickly.
This should give consumers even more incentive to sell their old mobile phones and recycle their other electronics rather than leaving them in a drawer at home. Contributing to the circular economy is something which everyone has to do to make it work.
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