A wireless conference might be the last place you'd expect to see a precious metals refinery company, but precious metals are prevalent in cellular devices and once stripped down, those metals can be cashed in.
We look for gold, silver, palladium and copper in cell phones scraps We return those metals back to the commodity markets," said Todd Willis, senior account executive at Reldan Metals, a precious metals refinery that is exhibiting at CTIA.
Naturally, such substances are too hard for consumers to retrieve, which might be why, according to the University of Edinburgh (UE), about seven percent of the world's gold supply is currently locked inside of electronics. While removing that gold has heretofore been a highly toxic and inefficient proposition, researchers now think that a new process will make prospecting for gold in electronics heaps more achievable than ever.
Gold is often found on printed circuit boards, particularly under keyboards where its durability is an advantage. According to the UE researchers, about 300 tonnes of the metal are used in electronics each year.
First, printed circuit boards are dissolved in the acid which turns all of the metal in the board to liquid. Then, an oily solvent made from toluene is added, kicking off a process known as solvent extraction. Toluene is an aromatic hydrocarbon commonly found in paint thinners. The toluene solvent pulls the gold free from the other materials in the acid wash where the metal can be recovered and used again. Likewise, the solvent and acid can be reused, cutting down on waste.
"Once you have dissolved metals in acid, you can use solvent extraction to separate all of them," he said. "So, in principle, we could devise a process that would be able to separate all of the metals in electronic waste, which of course would have environmental and potentially economic benefits, but this would depend on the prices of metals and the cost of the process."
That is correct; if you study gold investing fundamental truths, you will see that about 10% of newly mined gold volumes get funneled into high-end electronics every year. Gold laced electronics like the smartphone or computer you are using to read this content.
Collectively, 130 million cell phones conservatively weigh about 30 million pounds. When scrapped this yields over 67 million oz of copper, almost 1.5 million oz of silver bullion, and over 125,000 oz of gold bullion.
Now multiply both those amounts by about four to five times while also remembering this data is almost 10 years old. It only measured the USA's cell phone e-waste alone (we are only 1 of 20 people on Earth).
Most gold is still gets used either as a long term store of value money (central banks and investors) or within high-grade 22k and 24k gold jewelry in the east (India and China mainly buy gold jewelry pieces priced close to their gold weight value).
A bullion buyer years before the 2008 Global Financial Crisis, James Anderson is a grounded precious metals researcher, content creator, and physical investment grade bullion professional. He has authored several Gold...
A bullion buyer years before the 2008 Global Financial Crisis, James Anderson is a grounded precious metals researcher, content creator, and physical investment grade bullion professional. He has authored several Gold
What parts in a cell phone are gold? There are many parts within your cell phone that either are made of gold or have a layer of gold on them that is worth a lot of money. The companies that manufacture phones use gold because it allows current to pass through it very well.
You can use that same technique to collect used cell phones for your business. You will have to get permission from the stores management but the amount of gold that you can collect is very well worth the 15 minute conversation that you have with them about your scrap metal business.
I have always believed in helping others by sharing what I have learned. Recycling scrap metal does not require a degree, but you should always have a good idea about what you are doing. Thanks for stopping by and allowing me to help you, let's get started!