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Why Oilfield Service Giants Are Dumping Assets

Why Oilfield Service Giants Are Dumping Assets

The three biggest oilfield service…

Landfills Contain Precious Metal Deposits 40-50 Times Richer than Mines

Technology advances at a phenomenal rate in the consumer electronic device market, with more efficient, faster, lighter, more powerful devices being released each year. This means that each year thousands of tonnes of devices are discarded as newer versions replace them, in fact e-waste is one of the fastest growing components of human waste.

Not only is the quantity of waste vast, but also the value in terms of precious metals and plastics, which could be recovered and recycled. According to experts at the first ever Global e-Sustainability Initiative (GeSI) urban land fill sites now amount to actual treasure troves, full of precious metal deposits which can be 40-50 times richer than actual metal ores being produced from mines.

Despite the fact that world gold production increased 15% between 2001 and 2011, from 3,900 tonnes to 4,500 tonnes; the percentage of that supply being used in electronic devices also increased from 5.3% to 7.7%. Each year 320 tonnes of gold and more than 7,500 tonnes of silver are used in the manufacturing of iPads, Samsung Galaxy Tabs, notebook, PC’s, smartphones, and more, and recovering this metal when the device is discarded could be worth $21 billion a year.

Currently it is estimated that only 10-15% of the gold in e-waste is actually being recovered.

Despite the wealth in gold and silver, Laexis Vandendaelen of Umicore Metals Refining in Belgium, claims that a huge wealth also lies in the copper, tin, cobalt, palladium, and plastics used. In fact recycling just half of the plastics in e-waste in the EU alone would save 5 million kilowatt hours of energy, more than 3 million barrels of oil, and reduce carbon emissions by nearly 2 million metric tonnes.

By. Charles Kennedy of Oilprice.com



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  • Peter Oakley on July 17 2012 said:
    Mr. Kennedy,

    could you identify the source used to determine the percentage of gold being used in electronic production between 2001 and 2011 and the 320 tonnes of gold?

    These figures have undergone extreme variation over recent years depending on whether the aim is to develop urban mining or restrict it, hence my interest.
  • cjlangley on July 11 2012 said:
    Mr. Kennedy,

    Where can I access info. and or diagrams about how to extract the gold in discarded e-products and where can I unload e-product the plastics for some profit?

    Thank you,
    cjlangley

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