Here is why you shouldn’t just throw away your cell-phone, but recycle it! Some say to do it for the environment’s benefit. Save energy this, prevent waste that. But I think a true ecopreneur would look at this statement…
For every 1 million cell phones recycled, 75 pounds of gold, 772 pounds of silver, 33 pounds of palladium and 35,274 pounds of copper are recovered.
That’s 75 pounds of Gold X 16 ounces X $1133.600 per ounce which = $1.35 million. 772 pounds of silver x 16 ounces x $18.1 per ounce = $223,571. 33 pounds of palladium x 16 ounces x $501 per ounce = $264,528. 35,274 pounds of copper per ounce x $3.5748 per ounce = $126.10
Total = $1.8 million dollars for every 1 million cell phones.
Yeah, OK, that only amounts to $1.80 per cell phone but imagine bringing economies to scale and legally require citizens to dispose of e-waste to specific collection centers and wallah! A viable business opportunity. Don’t agree? Multiply $1.8 x 276.6 million cell phones in the U.S. That’s around $500 million dollars in recycling revenue, and that is only from cell-phones! Imagine what other e-waste would yield…
PS: $1.8 * 4.1 billion cell phones in the world = $7.4 billion. Yeah, that’s right. $7.4 billion dollars. For cell-phone e-waste alone. Is any CEO right now reading this?
Oh yeah, we get to save the environment too. Forgot to mention that.