Tag Archives: platinum

Your Electronic Goods Recycling Donations Become Bank Deposits

November 13, 2022 The Silo 2 Comments

Used and broken electronics such as computers, cellphones, dvd players, washers and dryers still hold intrinsic value because if you were to peer inside these things you’d notice a lot of wire and circuitry. There is a surprisingly substantial amount of copper, silver and gold waiting for “the recycling”.

Consumerism- the acquisition of goods, is largely based today on electronic devices- large screen televisions or smartphones for example. Many of us feel the need to upgrade regularly: bigger screens for our living rooms and faster and more powerful phones. But in broad terms, our discarded electronic goods contain about the same amount of silver, copper, gold and platinum as the new items we are replacing them with.

How much value are we talking about?

It is difficult to determine an exact value of gold and other precious materials in an average cellphone. This is because no two models are exactly alike, no two batteries are exactly alike.

Lux Bringer from reddit.com:

All of a sudden these, “bring your old cellphones to us so we can recycle them for you” campaigns are making a lot more sense. Sneaky bastards.

PtrN from reddit.com:PtrN

I’m not sure. I’m seeing that the average cell phone has 1/8 a gram of gold in it from other comments. At the time of this writing, CNN currently has gold going at $1650USD per troy ounce. I crunched the numbers and am seeing that there is about $6.60USD worth of gold in a cellphone. Not too bad, but I don’t know how profitable it will be after you take into account the costs of transportation and the extraction process itself.

Thoust from reddit.com:

There are other materials in a phone they can salvage besides gold

professor_fatass from reddit.com:

According to the article you also get platinum, palladium, and copper. As well as the glass and plastic which may not be worth much but it can still be recycled.

Interesting isn’t it?

Let’s consider the price of copper. Right now in Canada it is just under 4$CDN per pound. If you’re keen and want to sell your own scrap copper you will need a lot of it. An average washing machine motor has about 8$CDN worth of copper wiring up for grabs. http://www.instructables.com/id/how-to-get-tons-of-free-enameled-copper-wire/http://priceofscrapmetal.com/how-to-sell-scrap-copper-wire/

Gold!

There is gold and platinum inside computer circuit boards and hard drives. Most of the gold is an alloy or plated over another metal but at highs predicted to reach near $1,8000USD per ounce- a high volume recycling effort will pay off.

Bleepin’ Animinion from bleepingcomputer.com:

Any, true recycling effort that would be of a profitable nature needs to be EPA approved. Due to the multiple hazardous materials mixed in with the minute amounts of precious metals. As well as the highly toxic removal and heavy metals separations processes. Also as an example it would take an average of one ton of random circuit-board waste to generate one pound of gold. Add to that electronic grade precious metals are not the expensive jewelry grade high dollar metals. Therefore looking at the gold market is not the price you would get. So the profit you would make on the precious metals would be eaten up by the fees and expense of waste disposal of the one ton of hazardous useless waste product left behind after you reclaimed the precious and hazardous heavy metals. This is definitely not a a project to undertake on a small scale in your garage.

This last quote is an important thing to consider.

If you are considering dropping off your scrap electronics and appliances ask the receiving party if they are environmentally approved and a member of an Electronic Stewardship. After all, your discarded electronics will earn a tidy sum of money for a large scale salvager. The least they can do is operate within the law and operate with an environmental conscience. But there is some worry.

The salvagers are looking for an uninformed public- they set up their marketing and advertising in a way that makes no mention of the economic benefits they stand to make.

They seldom if ever offer you a small stipend for your ‘donated scrap’ and perhaps even worse, many pose as “good deed” companies ridding us of our “broken goods” destined for the landfill. The Ontario Electronic Stewardship is a non-profit group that overseas responsible recycling of electronics. This Stewardship works with existing legal frameworks put in place by Waste Diversion Ontario and the 2002 Waste Diversion Act. www.wdo.ca

Social impact in the developing world.

In Southern China over 100,000 people including children spend their lives dismantling discarded electronic devices for scrap metal and an unknown number are doing the same thing in Nigeria. http://www.economist.com/news/international/21570678-growing-mounds-electronic-scrap-can-mean-profits-or-scandals-cadmium-lining

In this file photo from 2001, a migrant child sits atop a pile of unrecyclable computer waste imported to Guiya, China, from other countries.

Basal Action Network

Some players are keeping it real.

Not every electronic device recycling campaign is shady. Increasingly, not-for-profit groups and volunteer fire departments are setting up large recycling bins with signage such as “your donated scrap metal and electronics helps fund X”.

If you are considering dropping off discarded electronics to your local “recycling and scrap drive” ask a few questions. Where are the profits from the salvaged materials going? Is the company operating the drive aware of the Ontario Electronic Stewardship guidelines? What happens to your donated goods at the end of the cycle- are they destined for a landfill or for China?

Sci-Tech

2022 And NOT Another Year Closer To Private company Asteroid Mining

July 7, 2022 The Silo 2 Comments

It’s been eight years since an historic landing took place between an European Space Agency drone and a comet.(which looked suspiciously a lot like an asteroid to us!)

At that time a report from Deep Space Industries laid out their business plans up to 2020 and what they had committed to sounded more like science fiction than fact.

But it wasn’t and they’d already secured investors.

A 2019 announcement from NASA stating that it would be the National Space Administration in the lead instead ( NASA will soon begin hunting a nickel laden asteroid ) spoke volumes about not only the possibility of asteroid prospecting- but also to its inevitability in the private sector.

DSI concept of “coming soon” asteroid mining.

And yet, things have changed…..again.

In early 2020 Deep Space Industries (along with the only other asteroid mining company, Planetary Resources) were purchased by Bradford Space Group and ConsenSys Group respectively and all plans for private asteroid mining were shelved indefinitely. Deep Space Industries is now focused on developing space propulsion systems and ConsenSys is now focused on developing blockchain security applications for space technology.

What could have been- Deep Space Industries ambitious plan before the take over

Their plan was to send an entire fleet of prospector spaceships to Near-Earth asteroids in order to harvest them for precious metals and other undisclosed resources. (space rubies anyone?). Starting in 2015, Deep Space Industries were to begin their operation by sending three small spacecraft called FireFlies to selected asteroids near earth for sample taking and photo reconnaissance. One year later, bigger craft called DragonFlies were to leave on four year missions to retrieve asteroid samples and bring them back to Earth. An ambitious project to be sure and not surprisingly, the timeline had been regularly pushed back.

This press release from DSI said a precursor mission was scheduled to launch in 2017: “Recently, Deep Space Industries and its partner, the government of Luxembourg, announced plans to build and fly Prospector-X™, an experimental mission to low-Earth orbit that will test key technologies needed for low-cost exploration spacecraft. This precursor mission is scheduled to launch in 2017. Then, before the end of this decade, Prospector-1 will travel beyond Earth’s orbit to begin the first space mining exploration mission.”

Valuable materials exist in abundance in space and have strong economic potential. Using their tested indicators as investment attractors, Deep Space will move towards securing a commercial space operation and start into the next phase of its business plan. This involves concentrating firstly on processing rocket fuel from asteroid-harvested water.

This fuel, harvested and processed in space will save millions of dollars, since existing communications satellites will no longer be ‘thrown away’ when their fuel supply has been used up. (Satellites that can longer ‘move’ and stay in orbit by using their rocket engines are left to slowly fall towards earth and burn up in the atmosphere ).

Deep Space Industries past-CEO David Gump estimated that a satellite ‘refueled’ and saved from burn up is worth up to $8,000,000 per month. Those figures start to add up when you factor in the number of satellites in use and being launched every year. Another plan during this phase of their business operations is to return precious group metals such as platinum and gold back to earth.

After all, if you’re splitting up asteroids and discover metal commodities, why not bring it back down to earth?

Deep Space believed that other metals harvested from asteroids also have an in-orbit value. They are developing the Microgravity Foundry- a type of 3D printer that will be used to fabricate and machine metal parts in space from pure asteroid metal such as high strength nickel parts.

Deep Space cgi mockup of their planned 3D space printer.

Since this factory will operate in space and in zero gravity and produce parts in space, the idea of permanent space development and human habitation is economically feasible. Stephen Covey co-founder of Deep Space Industries and inventor of the Microgravity Foundry process: “What’s cool about the [3D] printer is that it can take its own parts, grind them up, and recycle them into new parts.”

Stephen Covey- inventor of the Microgravity Foundry process

Deep Space Industries past-CEO David Gump: “Using resources harvested in space is the only way to afford permanent space development. More than 900 new asteroids that pass near Earth are discovered every year. They can be like the Iron Range of Minnesota was for the Detroit car industry last century- a key resource located near where it is needed. In this case, metals and fuel from asteroids can expand the in-space industries of this century. That is our strategy.” Company estimates place a value of 1 ton of raw asteroid material at a worth of $1,000,000 [usd] in orbit.

Buy outs over the last few years have all but ended the dream and it will be the various space agencies such as NASA and ESA that will fulfill Deep Space Industries abandoned plan. For the Silo, Jarrod Barker.

Supplemental: http://www.businessinsider.com/deep-space-industries-asteroid-mining-plans-2013-1#ixzz2Io8Qg8uc

Updates: Deep Space Industries aligns with Luxembourg Government, applauds space commercialization policy.

Mexican commercial space company MXSpace partners with Deep Space Industries.

NASA hunting nickel 16 Psyche asteroid worth quadrillions of dollars.

Sci-Tech

Asteroid Prospecting And Mining Nearing

October 25, 2017 The Silo Leave a comment

Have you ever wondered how you’d mine an asteroid? Not many people have. But you may be interested to discover that scientists are actually attempting to achieve this, seemingly impossible, feat. You may even remember reading about an asteroid mining company here at The Silo. That company is still in business.

Why? Well, an asteroid can hold many materials that are considered to be very valuable back here on earth. And, bearing in mind how many asteroids there are, asteroid mining could turn into being a far more “earth-friendly” way to gather resources.

So, check out this infographic from our friends at fuelfighter.co.uk and discover how scientists are planning on mining Asteroids and how much it could cost in US dollars/British pounds to do so.