An enlightening new study shows that $22.2 billion worth of gold and $1 billion worth of silver were discarded globally in 2016 in the form of e-scrap.
The survey, conducted jointly by the United Nations University (UNU), the International Telecommunication Union (ITU) and the International Solid Waste Association, shows that consumerist societies are to blame for this waste.
The U.N.-backed report, titled "Global E-Waste Monitor 2017," says there has been much debate and criticism about the growing "disposable society. The so-called "disposable society" is characterized by consumerism and a tendency to throw away old things to buy new ones, rather than keeping and repairing them.
In 2016, the world's e-waste reached a record 45 million metric tons, a figure equivalent to the weight of nearly 4,500 Eiffel Towers combined.
The report defines e-waste as anything with a plug or battery.
Precious metals looked for in e-waste include gold, silver, copper, platinum and palladium. Discarded devices also contain iron and aluminum.
The report notes that the recycling potential of the waste is staggering, with $22.2 billion worth of gold - 500 metric tons - just thrown away globally. The amount of silver contained in e-waste is also quite staggering, at 1,600 metric tons, with a total value in the $1 billion range.
"In 2016, the total value of all raw materials in e-waste was estimated to be around 55 billion euros ($65 billion), a figure higher than the gross national product of most countries around the world in that year," the study, released Wednesday, said.
Only 20 percent of global e-waste is properly cellularized and recycled, according to the latest statistics. The remaining e-scrap usually ends up in landfills as ordinary household waste.
On top of that, the amount of e-scrap is only going to grow. The report predicts that the size of e-scrap in 2021 could rise to 52.2 million metric tons.
China currently ranks first in generating e-waste.
"There are several reasons why China plays a key role in the global electrical and electronic equipment (EEE) industry; it is currently the world's most populous country, so demand for EEE is very high, and it has a strong EEE manufacturing industry," the report said.
The report explains that the reasons for throwing away old equipment are either related to the hassle of repairing the equipment or the social status associated with buying a new upgraded version.
Gold and silver everywhere
In fact, e-scrap is just one of the sources from which precious metals such as gold and silver are collected.
Foreign media previously reported that scientists have found trace amounts of gold in sewers and sewage treatment plants in Switzerland.
According to a study by the Swiss Federal Institute of Water Science and Technology (EAWAG), about 95 pounds of gold are flushed into the sewage system in Switzerland each year. At the prevailing exchange rate, the lost gold was worth nearly $2 million (about 13,163,600 yuan).
Researchers believe the trace amounts of gold are flowing into the wastewater system from Switzerland's famous watchmaking industry and gold refineries.
The researchers were commissioned by the Swiss Federal Office for the Environment to investigate 64 wastewater treatment plants in Switzerland. It was found that the concentration of gold in wastewater in some areas of Switzerland is higher than in any other area. In several gold refineries in southern Switzerland, even deposits of the highly "gold-bearing" metal may be worth collecting.
Because the concentration of gold in sewage sludge is high enough, the gold can be recovered and may be able to be restored to its original value, according to the researchers in their report.
Additionally, the scientists found other unexpected elements in the water, including large amounts of silver and even rare-earth minerals that are commonly used in the manufacture of electronic devices. The researchers estimated that more than 6,500 pounds of silver flowed into the Swiss wastewater each year, which was worth about $1.8 million at the prevailing exchange rate.
--END--
The article content is for reference only, do not make a profit and loss commitment; the futures market is risky, investment need to be cautious!
Forex Easy
Website: Waipanyi.com
Multiple original articles per day, committed to providing the most convenient futures trading services for the majority of traders.