Throughout the world, millions of dollars worth of precious metals sits in landfills and junk yards where it is hidden away. That’s right, millions; and there’s a lot more coming!
To give you an idea, roughly 21 billion dollars worth of gold and silver is used each year in the manufacturing of electronics, according to this graphic.
Currently, electronic waste (e-waste) takes up about 10 percent of landfills in North America. It’s safe to say then that every landfill is sure to have precious metals in it!
Is Urban Mining Profitable?
We stumbled across this interesting graphic and thought it was definitely worth sharing. It breaks down the use of gold and silver in electronic devices and discusses the profitability of urban mining.
If you’re anything like us gold buyers at Toronto Gold, that will make you look at your old laptops, cell phones and other electronic equipment through a different lens. Urban mining is most certainly profitable. How profitable? That’s for you to decide.
Recycling E-Waste
There is a proper way to dispose of e-waste. Avoid throwing away old phones and other electronic devices in the trash, despite how convenient it is.
A better solution would be locating a store or recycling company in your area that accepts unwanted e-waste. Some office supply stores like Staples are known to take back e-waste even if it wasn’t originally purchased there!
Toronto Gold is a gold buyer in Toronto, Ontario. The above graphic is not our own.