Gold, like any physical resource, is limited. It is estimated you could fit the entire world’s supply of gold into an Olympic-sized swimming pool. Its finite availability is partially what makes gold so valuable. Because of this, companies that use gold in their products, like Apple, are thinking of innovative ways to recycle that gold into their new products. But, are they making a profit from recycling gold?
Apple Renew and Gold Recycling
According to Apple’s 2016 Environmental Responsibility Report, 2,204lbs of gold, or nearly $40 million, was harvested from their Renew program. Apple Renew is one of Apple’s most recent innovative programs whereby users can recycle their Apple product, sometimes for cash, and know that their old device is being reused in a positive way.
The company disassembled millions of iPhones, iPads, and computers, recovering a total of 61,357,800lbs of materials including gold. Using a highly sophisticated robot technology dubbed Liam, the tech giant recovered 23 million pounds of steel, 13 million pounds of plastic, 12 million pounds of glass, 3 million pounds of copper, and the list goes on.
Most of the materials in their products, Apple says, are reusable. By initiating the recycling program the finite resources on Earth can be put to use over and over again.
The company hopes to inspire others in their industry to initiate similar recycling programs. These materials are used in so many applications that it behooves corporations to seriously consider ways of emulating Apple Renew.
Technology is Driving Demand
Furthermore, Apple’s interest in salvaging gold and other precious metals from its i-products should cause gold investors to take note. If the yellow metal is valuable enough for a cutting edge, mega corporation like Apple to invent new ways to collect it, investors should give gold a second glance when looking to diversify their portfolios. This demand for gold is partly why gold’s value continues to skyrocket. If you’re ready to start harvesting your own gold and capitalize on the demand, call our office today.
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