Recycling Precious Metals
In today’s world, many investors are looking to support issues that align with their values, including sustainability and recycling. If you’re one of them, have you thought about investing in precious metals? One of the benefits of investing in precious metals is that they can be recycled repeatedly without losing their properties. This not only helps to conserve natural resources but also uses less energy compared to mining and producing new materials. In fact, you may be surprised to learn just how much precious metals are recycled.
Ferrous metals, such as carbon steel, alloy steel, and cast iron, have properties that include iron and are often used in construction, manufacturing, and other industries. In contrast, precious metals such as gold, silver, and platinum, as well as other metals are classified as non-ferrous. Non-ferrous metals have a unique characteristic of retaining their physical and chemical properties during the recycling process, making them recyclable an infinite number of times without any degradation.
The Recycling Process for Precious Metals
Recycling precious metals is important because it reduces the need for mining new metals, which can have a negative impact on the environment and can be costly. Additionally, recycling precious metals can help conserve valuable resources and reduce waste.
Precious metals can be recycled in a variety of ways depending on the type of metal and its form. The most common method for recycling gold and silver is through refining, where the metal is melted and purified to remove any impurities. Another method for recycling precious metals is through scrap recovery, where metals are extracted from discarded products or scrap material. Other methods for recycling precious metals include electroplating, which uses electrical currents to remove metal ions from a solution and deposit them onto a surface, and hydrometallurgy, which uses chemical processes to extract metals from ores and concentrates.
The process of recycling metals typically involves several steps:
- Collection: Metals are collected from various sources, including scrap yards, industrial waste, and consumer products.
- Sorting: Metals are sorted into different categories based on their composition, such as ferrous or non-ferrous, and their form, such as solid or shredded.
- Processing: The step involves removing any impurities present in the metals, such as dirt, plastic, or other metals. The specific techniques used for processing can vary depending on the type of metal and may include shredding, melting, or other methods.
- Shredding and melting: Once the metals have been sorted, they are usually shredded into small pieces or melted down into a liquid form.
- Purification: For some metals, such as gold and silver, additional purification steps may be required to remove any remaining impurities.
- Reformation: The purified metal is then reformed into a new product or component, such as a new piece of jewelry or a new car part.
- Distribution: The recycled metal is then sold to manufacturers or other users who can utilize it in their products.
Overall, the process of recycling metals is an important way to conserve natural resources, reduce energy usage, and minimize waste.
Some Fun Facts
Approximately 90% of recycled gold is sourced from jewelry, while the remaining 10% is extracted from technology. In 2017, Europe accounted for 38% of the world’s total scrap supply of silver. In 2018, it was estimated that a total of 1,960 koz of platinum will be supplied to the market through recycling from all sources, representing a 3% increase from the amount that was recycled in 2017.
