Urban mining offers $91 billion opportunity in electronic waste

Urban mining, the practice of recovering precious metals like gold, copper, and palladium from discarded electronic devices, represents a massive untapped economic opportunity. In 2022, global electronic waste production reached approximately 62 million tons, averaging 7.8 kilograms per person. However, only 22.3% of this waste was officially collected and recycled, meaning only one in five devices was processed.

The economic value of metals contained in 2022's e-waste is estimated at approximately $91 billion. This includes $19 billion in copper, $16 billion in iron, and $15 billion in gold. Despite this potential, the global economy recovered only about $28 billion worth of materials.

Companies such as Umicore and Sims Limited are utilizing advanced recycling methods to bolster the circular economy and enhance strategic autonomy, particularly within the European Union. Even small devices like smartphones serve as complex material repositories, containing copper, gold, silver, palladium, cobalt, and rare earth elements. Research indicates that one ton of old mobile phones can contain over 53 kilograms of copper, 141 grams of gold, and 270 grams of silver.