The growing demand for precious metals makes them scarce, increasing the importance of recycling, for the environment and the supply chain.
Precious metals are metals like gold, silver, platinum and palladium. They are used in countless daily products and are irreplaceable and difficult to source for industries around the world. Their uses vary from products we use every day, cell phones, electronics and LED light bulbs, to high-end jewelry and electric cars.
Extracting precious metals from the Earth has a huge negative effect on the environment. Precious metals are a non-renewable resource, like coal and natural gas and extraction requires large inputs of energy. Altogether, the extraction industries are responsible for 40% of the world’s carbon emissions and 10% of biodiversity loss is also thanks to the extraction industries.
Precious metals are scarce and as the resource in the ground dwindles, gold recycling and platinum recycling become that much more important. Prices are on the rise, as extraction has tripled, increasing the pace of environmental destruction. Certain precious metals, such as palladium for cell phones and other electronics, are a must for consumers today.
Recycling precious metals keep metal in circulation as it reduces extraction and helps improve the environment. Recycling reduces waste in the scrap metal industry and helps meet the demand for precious metals. When you work with a precious metals recycler, that company reclaims the precious metals and evaluates them to find monetary value. Sources for precious metal then are paid the valued amount.
Better yet, precious metals recyclers work to ensure a safe and environmentally sound recycling process and our facility creates a process to safely, securely and properly manage materials flow through facilities. This system is founded upon our R2, ISO 9001, ISO 14001, ISO 45001 certifications.
Precious metal recycling companies have created facilities that can withstand the rigors of recycling precious metals, which do not degrade their properties. Metals can be recycled numerous times without losing quality, making them suitable for the same uses again and again.
The metal goes through a recycling process after the precious metal recyclers receive it. Metal is analyzed and sorted into groups of similar metals, using a magnet. Next, the metals are processed, starting with shredding, a big energy saver that also improves the recycling process.
A large furnace is brought to a specific temperature and then melts the metal, with different furnaces used to melt different metals.
Recycling silver can be similar to recycling gold, just in a different location in the factory. After the melting process concludes, the metal is purified.
Purification is completed most often through electrolysis, using electric current to separate impurities of the metal. More pure metals are more valuable and they can be used in more specialized products.
The cooling metal is brought to a lower temperature where it resolidifies and is shaped into bars for transportation. After this process of precious metals recovery is complete, it begins the journey again for a new product manufacturing process.
Most products that contain precious metals can be recycled and refined. E-waste recovery is a term for electronic devices with precious metals that should be handled using specific equipment. Some precious metal refineries are dedicated to recycling certain metals, so they can focus on the correct method so that quality remains their priority.
Gold and silver are precious metals that are treated differently than metals such as platinum. Smelting Gold and silver involves a specific process that draws out impurities. Platinum is run through a smelting process and flotation separation. Recovering and refining a metal might occur at a certain refining facility, but every type of precious metal can be recycled.
The high temperatures in the melting process must be completed correctly, to ensure the safety of workers. Open-air burning or acid baths, for example, could lead to health problems and injuries in the work facility.
If e-waste is refined incorrectly, the process can release toxic material into the environment, leaving workers exposed to substances including lead, mercury and arsenic. The irreversible health effects can be devastating for employees. This is why only refineries with the correct equipment, processes and training can handle toxic materials.
Precious metals are recovered in several different ways. Scrap material comes from product manufacturing, unused product inventories can be recycled and many companies have started e-waste recovery programs. Unused devices gathering dust in homes can end up in e-waste recycling boxes, thanks to the efforts of stores such as Best Buy, Sprint and Staples. These companies and others have made precious metal recovery programs so that recycling e-waste is easy and convenient.
Common products dropped off as e-waste include cell phones, computers, printer ink cartridges and rechargeable batteries.
Palladium and rhodium are recovered from many unused products, including catalytic converters. Catalytic converters run on precious metals like palladium, rhodium and platinum and a single unused catalytic converter can be recycled to recover around US$1,000 worth of precious metals.
Manufacturing companies and customers are excellent sources for recovering precious metals to enter into the recycling process. Many consumers are eager to trade unused precious metals for money. It’s common for metal recycling companies to have types of metal and recyclable products that they specialize in so recycling for each metal type is specialized and handled in different ways. The precious metal recycling company receives metal scraps and analyzes them to understand the metal’s properties and determine an accurate monetary value, based on market prices.
To bring precious metals back into circulation and to improve the environment around us, it is important to find the right precious metal recycler. It’s important to consider what metals they specialize in recycling, evaluate their communication and honesty, as well as evaluate their impact on the environment.
We are dedicated to reducing, reusing and recycling as much as possible to improve the environment. Our precious metal refinery recognizes the importance of recycling precious metals and we strictly adhere to the Environmental, Health and Safety Management System (EHSMS). We properly manage the precious metals we receive so that you can have confidence when you recycle your unused precious metals.
Majestic Corporation has been a leading precious metals recyclers, non-ferrous metals and Catalytic converter provider for around five decades. With a presence in the United States, United Kingdom, Malaysia, Italy, Mexico, Australia, Hong Kong and more, as well as a network of precious metals refineries around the world, we work with major customers and partners in a transparent and discrete manner and only offer the highest quality services at competitive prices.
Contact us here for more information.