Did you know that the outdated electronic devices lying around your house, like old TVs and laptops, contain valuable metals such as gold and copper? Well, small startups have caught onto this hidden potential in the e-waste industry, and they’re raking in profits of up to $85,000 per day by recycling old electronic circuit boards, according to Business Insider.
E-waste has become a major environmental hazard, with over 50 million tons of electronics being discarded globally. Much of this waste is sent to third-world countries, exacerbating the problem. The situation is expected to worsen as our appetite for new phones, laptops, and other electronic gadgets continues unabated. Shockingly, only around 15% of e-waste in the United States is collected for recycling, leaving the rest to clutter landfills, streets, and garages.
But here’s the surprising twist – amidst this environmental crisis, e-waste is turning into an underappreciated “gold mine” due to the valuable metals found in circuit boards. There’s an estimated $55-$60 billion worth of precious metals waiting to be reclaimed globally.
Business Insider delved into the world of e-waste recycling by following scrappers and a startup in Sydney, Australia. The investigation revealed that while individual scrappers might not be making a full-time income yet, larger organizations and startups equipped with heavy machinery are cashing in big. One such standout is Mint Innovation, which has perfected the art of metal extraction from e-waste, pulling in a whopping $85,000 per day from the raw metals collected. This success translates to an impressive $30 million in annual income.
The story of Mint Innovation showcases the immense income potential within the e-waste industry. However, the lack of dedicated infrastructure for e-waste processing remains a hurdle for scavengers looking to make a sustainable living. As the issue of e-waste pollution continues to escalate, entrepreneurial minds may increasingly recognize the untapped financial prospects in this sector, potentially driving more investment and infrastructure development.