Electronic waste has long been a massive threat to our environment – and this problem is set to grow exponentially over the next decade. In fact, projections show that 74.7 million metric tons (MMT) of e-waste will be generated globally by 2030, compared to 53.6 MMT in 2019.
E-waste is a growing concern for companies who wish to adopt more sustainable business practices, as the amount of business technology that is replaced and thrown out is a leading contributor to the problem.
While businesses look for ways to reduce their corporate carbon footprint, one UK business is taking a radical approach to combatting e-waste – they’re mining it for gold.
The Royal Mint, a government-owned mint that produces coins for the United Kingdom, recently announced plans to build a new plant in South Wales, where they will work to extract gold from discarded electronics that would otherwise be wasted. The plant is projected to be fully operational sometime in 2023.
The plan to extract gold from e-waste promises environmental and economic benefits.
The Royal Mint is working alongside Excir, a Canadian startup equipped with technology capable of extracting 99 percent of the gold found in the circuit boards of laptops and cellphones. If the plan is successful, it will generate hundreds of kilograms of gold per year.
This innovative approach to the e-waste problem is groundbreaking on a number of levels. The economic value of generating gold from waste is obvious – and the plant will also generate new jobs for chemists and engineers in the UK.
But most importantly, the Royal Mint’s strategy could significantly diminish the carbon footprint from e-waste across the entire UK.
Most of the UK’s circuit boards are currently being processed overseas in smelters – and at high temperatures – according to the Royal Mint’s chief growth officer Sean Millard. At the new plant, they’ll be processed at room temperature, preserving natural resources while minimizing waste.
The plan is still in its early stages, but if the plant produces the results that the Royal Mint expects, their methods could inspire similar projects around the globe.
Too often, businesses buy into the misconception that promoting Green IT practices means sacrificing financial gains. The Royal Mint’s innovative plan is evidence that sustainability and profit are not mutually exclusive – there are ways to help the environment while simultaneously generating money. In this case the mutual benefits are quite literal – who wouldn’t want to turn e-waste into literal gold?
