Posts Tagged: ‘gold’

Sims Recycling Solutions promotes transparency in gold supply and production

December 9, 2017 Posted by admin

Sims Recycling Solutions (SRS), headquartered in West Chicago, Illinois, has announced that for its Eindhoven, Netherlands, facility it is has signed the Dutch Gold Sector International Responsible Business Conduct (IRBC) agreement along with electronics and jewelry manufacturers, gold recycling firms, civil society organizations and the Dutch government. The aim of the agreement is to ensure greater respect for human rights, the environment and biodiversity from the mining to the recycling of gold materials.

Currently, it is difficult to ascertain the origin of gold and where the gold eventually ends up, says SRS. Transparency among all who handle gold products and byproducts as well as their customers, can help improve both environmental and working conditions worldwide, the company explains.

“As the first such agreement of this kind we look forward to watching businesses place more focus on ensuring responsible sources for their gold,” says Steve Skurnac, president of SRS. “We are proud to be a part of this effort and hope it marks the beginning of a global movement.”

“Know, Show and Improve” are the three pillars of the agreement, whose purpose is to have a deeper understanding of the origin of gold and if and how businesses may be involved. From this information improvement plans will be developed as a code of conduct to aid and ensure gold transparency for businesses. More information can be found on the IRBC website at www.internationalrbc.org/gold.

SRS focuses on recycling or reusing electronics to ensure recovery of commodities throughout the world. As part of this agreement, SRS, together with other signing partners, says they are developing a collection system for mobile phones in Africa to ensure proper recycling and gold recovery in the region.

SRS is a global leader in electronics reuse and recycling. As a part of Sims Metal Management Ltd., the world’s leading publicly listed metal and electronics recycler with headquarters in New York and Sydney, SRS 20 years’ experience in IT asset disposition (ITAD) and mobile device refurbishment and recycling services either directly or through acquired businesses. Sims provides disposition services for all types of retired electronic equipment to local, national and global customers in every business sector including data centers, health care, financial service and technical organizations.

Article source: http://www.recyclingtoday.com/sims-recycling-solutions-dutch-gold-agreement.aspx

India Trade Ministry Seeks Lower Tax on Diamond Miners …

December 8, 2017 Posted by admin

India’s trade ministry is seeking a cut in taxes for overseas diamond miners to boost trading in the world’s largest hub for polishing the gems, people with knowledge of the matter said.

The commerce department in a letter to the finance ministry has sought to scrap levies and instead introduce a presumptive tax of 0.25 percent on diamond mining companies to lure such firms to sell the stones in special notified zones, the people said, asking not to be identified as the plan isn’t public. Currently, miners refrain from selling diamonds in India as it attracts as much as 33 percent tax, at par with those paid by local companies on their income, according to the Gem Jewellery Export Promotion Council.

Slashing taxes will bring India at par with international centers such as Antwerp and Israel, cut out middlemen and boost supply of rough diamonds in the nation where 14 out of every 15 of the gems are polished. It will reduce costs for small merchants who have to travel or pay traders to buy the stones from the overseas centers.

“This is our grudge and not the miners’ grudge as we want them to come and sell here,” said PraveenShankar Pandya, chairman of the exporters’ group. “More miners coming to sell in these zones will help companies get a direct supply to goods rather than going through the middlemen.”

$43 billion. An earlier target of 10 percent annual growth was scrapped due to a slowdown in global demand, introduction of a five percent import tax by major buyer U.A.E and the roll out of the goods and services tax in July this year also hurt demand, according to GJEPC.

The trade ministry also expects a reduction in import duty on gold to 2 percent from the current 10 percent in the federal budget due February, the people said. The government had raised the import tax on gold three times in 2013 to curb imports, narrow a record current-account deficit and stop a slump in the rupee.

    Article source: https://www.bloomberg.com/news/articles/2017-12-07/india-trade-ministry-is-said-to-seek-lower-tax-on-diamond-miners

Itronics Purchases Commercial Scale Grinder to Increase E-Scrap …

December 7, 2017 Posted by admin

RENO, Nev., Nov. 30, 2017 (GLOBE NEWSWIRE) — Itronics Inc. (OTC:ITRO), a diversified zinc fertilizer and silver producing green technology development Company, today announced that it has arranged financing for and purchased a commercial scale e-scrap grinder for grinding shredded circuit boards (e-scrap) to feed to its refining furnaces.  

The grinder, which is being custom built is expected to be delivered to the Company in January.  The grinder will have approximately the same throughput capacity as the Company’s shredder and is expected to significantly increase the capacity for producing ground circuit board scrap for refining while significantly reducing the cost.

Itronics is currently implementing plans to convert one of the rooms in its factory that is presently being used for storage to a dedicated circuit board shredding and grinding room (e-scrap prep room).  The room will have an air cleaning and ventilation system and a dedicated electrical system to support the machine and air cleaning operations.

The Company plans to complete the needed improvements, move the shredder from its current location and install it in the new location, install the grinder and start up the machines in the first quarter 2018. The shredding and grinding capacity of this new operation is expected to be sufficient to support a 50 to 100 times staged expansion of furnace refining capacity over the next 3 to 4 years. 

Itronics is working on improving “per melt” production of the furnaces.  So far in the fourth quarter it has increased per melt production by 35 percent.  The Company expects to expand per melt production by an additional 40 percent in the second quarter 2018 after the e-scrap grinder is installed and operational.  

In 2017 the prices of copper, zinc, silver, gold, and palladium have increased sharply, in some cases, to multi-year highs. Many forecasters are predicting that gold and silver prices will significantly increase from current levels.  Copper and tin are at multi-year highs.  The Company is now positioned to benefit significantly as silver bullion production is expanded and these metal prices continue to increase.

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 and by doing this it 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/s/ref=nb_sb_noss_2?url=search-alias%3Dapsfield-keywords=Gold%27n+Gro 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.  

Follow Itronics on Facebook: https://www.facebook.com/itronicsinc

Follow Itronics on Twitter: https://twitter.com/itronicsinc                                               

VISIT OUR WEB SITE: http://www.itronics.com

(“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/2017/11/30/1211784/0/en/Itronics-Purchases-Commercial-Scale-Grinder-to-Increase-E-Scrap-Grinding-Capacity.html