Recycling old electronics has become a necessity

The latest report from the United Nations University estimates the amount of electronics discarded by consumers in 2014 at 41.8 million tonnes, with only 6.5 million tonnes being reused.

Imagine a world in which billions of dollars worth of gold, silver, platinum and other precious metals are dumped in a pit like trash. It seems unlikely, but this is exactly what is happening in landfills around the world. Consumer craving for the latest technology is driving the need to recycle e-waste. There are a number of opportunities to create a new industry and many jobs.

Phones are usually updated every 1-2 years, depending on the user. 80 percent of mobile phone owners have two or more, including which they do not use. Some companies use processed emerald as an element of electronics design. The lifespan of televisions and computers is also significantly reduced. "People don't know what to do with them, so they store them, but there comes a point, especially with larger electronics, when they just throw it in a landfill."

About 50 percent of unwanted mobile phones and 35 percent of televisions are recycled in Australia through a network of collection points, including retailers' warehouses. Europe has expanded e-waste recycling to 60 percent by applying innovative new technologies.

Recycling e-waste is costly, hence the need for a trustee-funded industry, but Australia has said it can build a new, self-sustaining e-waste industry. Leading plant in South Australia is considering expansion to recycle boards so they don't ship overseas.