Gold In E-waste Valued at $22 Billion Thrown Away In 2016, New Study Shows

January 8, 2018 Posted by admin

RENO, Nev., Jan. 04, 2018 (GLOBE NEWSWIRE) — Itronics Inc. (OTC:ITRO) a diversified producer of GOLD’n GRO zinc fertilizers and silver products and a green technology development Company, today reported that a newly released study shows that $22 billion of gold (500 metric tonnes or 16 million troy ounces) was thrown away worldwide in electronics’ waste in 2016. 

The joint study entitled: “The Global E-Waste Monitor 2017” was released by the U.N. University (UNU), the International Telecommunication Union, and the International Solid Waste Association.  The gold is in the electronic circuitry in e-waste which is defined in the report as anything that has a plug or battery.

According to the World Gold Council 146.9 million troy ounces of gold (4,571 metric tons) were produced worldwide in 2016.  About 70 percent or 104 million ounces were mined, and about 30 percent or 42 million ounces were recycled.  In 2016 the amount of gold thrown away in e-waste worldwide was equal to 15 percent of world mine production, a very significant amount of loss.

The report also notes that 51 million troy ounces of silver (1,600 metric tonnes) valued at about $1 billon is also thrown away in the e-waste. Vast amounts of other valuable metals including copper, tin, and palladium are also in the e-waste that is thrown away.  The report estimates that 45 million metric tons of e-waste were generated worldwide in 2016.

Itronics’ President Dr. John Whitney stated: “These e-waste scrap statistics including the amount of gold and other valuable metals lost worldwide are staggering. They demonstrate that the market our breakthrough e-waste recycling technology is targeting is very large and growing on a worldwide scale. We not only recover the gold and silver, but the other valuable metals, such as copper, tin and palladium.”   

Itronics is now operating its breakthrough e-scrap refining technology, which processes computer circuit boards extracted from e-waste, at its manufacturing plant in Reno, Nevada.  The circuit boards are converted into silver bullion and silver-bearing glass which are sold, completely eliminating the waste from the environment by converting it to commercial products.  The Company plans to expand the refining capacity in stages over the next 3 years to a much larger scale.  Longer term, the Company plans to build an even larger e-scrap refining facility at a separate location in northern Nevada which will service the United States market.

Itronics has pioneered the development of value-added hazardous waste recycling that converts demetallized liquid photochemical waste into silver bullion and a liquid ingredient used to manufacture the line of high quality GOLD’n GRO liquid fertilizers, said Dr. Whitney.  “Itronics is now pioneering and has achieved operational proof of concept for its second ‘Zero Waste’ technology, the breakthrough e-scrap refining technology.”            

About Itronics
Headquartered in Reno, Nevada, Itronics Inc. is a “Creative Green Technology” Company which produces GOLD’n GRO specialty liquid fertilizers, silver bullion, and silver-bearing glass. The Company’s goal is to achieve profitable green technology driven organic growth in specialty GOLD’n GRO fertilizers, silver, zinc, and minerals.  The Company’s technologies maximize the recovery and uses of metals and minerals by completely converting waste to products, and this maximizes sustainability.

Through its subsidiary, Itronics Metallurgical, Inc., Itronics is the only company with a fully permitted “Beneficial Use Photochemical, Silver, and Water Recycling” plant in the United States that converts 100 percent of the spent photoliquids into GOLD’n GRO liquid fertilizers, silver bullion, and silver bearing glass. This is internationally recognized award winning “Zero Waste” Technology.  The Company is developing a portfolio of environmentally beneficial “Zero Waste” processing and mining technologies.  Itronics has received numerous domestic and international awards that recognize its ability to successfully use chemical science and engineering to create and implement new environmentally green recycling and fertilizer technologies.

The Company’s environmentally friendly award winning GOLD’n GRO liquid fertilizers, which are extensively used in agriculture, can be used for lawns and houseplants, and are available at the Company’s “e-store” on Amazon.Com at: https://www.amazon.com/Goldn-Gro/s?ie=UTF8page=1rh=i%3Aaps%2Ck%3AGold%27n%20Gro. Due to expanded retail customer interest, GOLD’n GRO fertilizer may now be purchased in Reno, Nevada at “Buy Nevada First Gift Shop,” 4001 S. Virginia St.

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(“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company’s growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates.  The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company’s filings with the Securities and Exchange Commission.  The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.)

Paul Knopick
888.795.6336

Article source: https://globenewswire.com/news-release/2018/01/04/1283458/0/en/Gold-In-E-waste-Valued-at-22-Billion-Thrown-Away-In-2016-New-Study-Shows.html

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