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‘Urban gold mining’ worth more than real mines

By | July 9, 2012, 9:53 AM PDT

Gold mining today bears little resemblance to the iconic images of California’s gold rush in the mid-1800s. This is what a gold mine looks like: an open pit mine with giant earth movers in search of the 10 grams of gold per ton in a typical mine.

But there’s a type of mining that’s worth more than these land-transforming mining techniques. It’s called “urban mining.” Generally, it means reusing waste from urban materials. But in this case it means mining the precious metals from discarded electronics, or e-waste.

These “deposits” of e-waste contain precious metals “40 to 50 times richer than ores mined from the ground,” according to a report from the Global e-Sustainability Initiative (GeSI) and United Nations University. And with 320 tons of gold and more than 7,500 tons of silver used to create more electronics each year, the value alone from those two precious metals is $21 billion.

But what’s troubling is that only 15% of these valuable metals are recovered from e-waste in both developing and developed countries.

“More sustainable consumption patterns and material recycling are essential if consumers continue to enjoy high-tech devices that support everything from modern communications to smart transport, intelligent buildings and more,” said Luis Neves, Chairman of GeSI, in a statement.

There appears to a big opportunity for an entrepreneur out there to make a lot of money and run a business that has sustainability at its core.

Maybe some mining companies will consider jumping ship.

Photo: Flickr/takomabibelot

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Tyler Falk

About Tyler Falk

Tyler Falk is a contributing editor for SmartPlanet.

Tyler Falk

Tyler Falk

Contributing Editor

Tyler Falk freelance journalist based in Washington, D.C. Previously, he was with Smart Growth America and Grist. He holds a degree from Goshen College.

Follow him on Twitter.

Tyler Falk

Tyler Falk

Tyler does not have financial holdings that would influence how or what he covers.

He writes for SmartPlanet and is not an employee of CBS.

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0 Votes
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Gold in Electronic Waste
Actually as little as 2gm of gold per tonne is considered as economical in conventional gold mining.
Some figures claim that that there is as much as 72gm of gold per tonne of electronic waste.
There some U-tube videos showing real small scale and relatively amateurish gold extraction from electronic waste.
Posted by kwickset@...
9th Jul
0 Votes
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But it contains a lot of toxic waste
Sure, there are a lot of precious metals in old electronics. But there's a lot of toxic stuff there as well, such as the lead used in solder. Anybody who "mines" e-waste has to factor in the cost of separating and safely disposing of those.
Posted by zackers
10th Jul
+1 Vote
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Toxic waste
Sure @zackers, there's going to be toxic stuff there too, but lead's not the best example you may have picked given the value of the stuff... Aside from lead, urban miners are going to find copper and a whole lot other stuff that shouldn't be going to landfill, including rare earth metals.
Posted by Brian Luff
11th Jul
+1 Vote
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It's not just lead.
There are dozens of toxic compounds that must be separated and disposed of properly. This is why the bulk of recycling is done in China, where recyclers are not troubled by regulation or environmentally sound procedure.
Posted by JohnMcGrew@...
11th Jul
+1 Vote
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"Toxic Waste"
Even in gold mining as well as most other mining and including rare earth mining involves very toxic chemicals.
Hobby and "Urban" gold miners should be aware of these toxic compounds and follow appropriate precautions.
Posted by kwickset@...
11th Jul
+2 Votes
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Worth the cost
The value of gold is about $6000 per tonne of "cleaned" electronic PCB boards. It is worth the extra cost of processing and dealing with the hazardous by-products. Also there is copper, silver (much more silver now that lead has been taken out of the solder) tin, bismuth, tantalum, cadmium, and many other metals and minerals that can be extracted from electronic waste.
Posted by Kieron Seymour-Howell
11th Jul
+2 Votes
+ -
in conventional gold mining, those toxins are there too
There are larger amounts of lead, mercury etc in the ore, and chemicals like cyanide are used in extraction. I fully expect that at some point a mining company is going to make news by buying a landfill, processing the buried waste as ore, and getting a better yield at lower cost than existing mines.
Posted by kevinrs1
18th Jul
0 Votes
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what are the techniques and methodoligies to extract gold from toxic waste?
HiAll, I want to knw what are the techniques and methodoligies to do this job, I mean to extract gold and other subjects from the toxic waste? how can I establish a factory to do that in Egypt or Canada?
hashem.kotby@yahoo.com
Posted by Hashem Kotby
Updated - 20th Oct
0 Votes
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gold refining
Dear Hashim
We planning to install e-waste refining in Egypt our capacity is about 1 ton per day of computer motherboards
we can help you in establishing a factoy in Egypt
best regards
hatem
hatemelborai@gmail.com
Posted by hatemelborai
21st Apr
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