The factory 'panning' gold from old electronics is nearly 4,000 m2 wide

Precious Metals Recovery began operations earlier this month, using chemical technology developed by Canadian company Excir to recover high-quality 999.9 gold from motherboards in phones, TVs, laptops and Electronic items with other gold-containing components.

This is the first time a company specializing in coin production has entered the field of precious metal recovery from motherboards. Previously, large technology companies also had this program. For example, Dell has its own e-waste recycling program. Since 2018, it has achieved the goal of recycling 907 million kg of e-waste.

The Royal Mint says the process of extracting gold on electronic circuits using Excir's technology is more energy and cost efficient than traditional gold mining methods, and takes just a few minutes. The Royal Mint has the capacity to process 3,991 tons of motherboard per year and produce half a ton of gold, about $34 million at current prices.

The source of "raw materials" to serve the above gold recovery process is not too difficult. In 2022 alone, the world will generate a huge amount of electronic waste, up to 68 million tons, according to data published by the United Nations.

After being recovered, the Royal Mint will use the gold to produce luxury jewelry items such as necklaces, bracelets, pendants, earrings, rings. with prices ranging from 350 to 140,000 USD. Other materials such as aluminum, copper, tin and steel obtained during recycling will be used in other sectors.

Jessica Tanner

Update 12 August 2024