From that, it can produce 830 tons of lithium phosphate, equivalent to 1000 tons of cobalt metal and 600 tons of nickel.
According to Sujela and Posco, POSCO (005490.AS) uses lithium phosphate to produce lithium carbonate for LG and Samsung’s rechargeable battery manufacturers.
The battery recycler plans to increase its processing capacity to 24,000 tonnes by 2019 and expand further in 2021, including growing its overseas operations, Yi said.
The company, however, is smaller than foreign competitors such as China’s Jiangxi Ganfeng Lithium (002460.SZ) and GEM Co (002340.SZ), and Belgium’s Umicore SA (UMI.BR).
In the last three years, the amount of imported metal imported for South Korean Lithium-Ion batteries has increased, according to data from the State Institute of Korea of Geoscience and Mineral Resources. In 2010, South Korea imported 3.5 million tons of nickel, which increased by 2 percent from 2013. Cobalt import increased 3.4 percent to 13,972 tons a year ago.
CBDO stands at $ 87,615 tonnes in March on the increase of Cobalt prices four times since January 2016.
This has led to more long-term supply contracts and investment in developing mining, and recycling efforts. Samsung SDI could start its own reusable business, a company spokesman said.
Park Jai-koo, an urban mining expert at Hanyang University in Seoul, said electronic waste recycling can help mitigate high prices and limit reliance on outside sources for rare metals.
“South Korea needs to secure resources but mostly all of them are imported,” Park said. “Urban mining is more likely to become a way to go.”
That was all about the jumping demand of urban mining. Then the difference making perspective must be depicted here.
According to the Korea Arma Mining Association, 150 small and medium-sized companies work in urban mining.
At SungEl HiTech, the process is not complicated or extremely automated. Workers cut the pieces of the batteries from the recycled device, the units were discharged from the electricity, and then the soil was split into a powder from which separate metal can be separated.
Most of the products that recycled – 60 to 70 percent – comes from the United States and Europe, with the rest from South Korea.
Recycling companies mainly focus on precious metal extraction like gold and silver. But four, including Sungel HiTech, can recover direct cobalt or find antibodies from the adverse substance.
Yum Un-joo, chairman of the Korea Urban Mining Association, said recycled resources, if developed correctly, could be a difference maker for the industry and for his country. “For South Korea, we don’t have an option but if we have recycled resources, that could be our strength,” Yum said. (7)
Obstacles To Establish Urban Mining
How much this El(ectronic)-Dorado might be worth, we can’t yet tell. Getting robust data on the amount of precious metal used to manufacture electronics was the first challenge, says Ruediger Kuehr – a political scientist who thought about the issues involved in technology transfer and environmental policy over a decade ago, and who – as a result – co-founded the “Solving the E-Waste Problem” (StEP) initiative, a partnership between the United Nations and academic and business organisations. This will not work as an effective policy solution for e-waste only, especially in the developing world, where the commands – at least not demanding public money – are unrealistic. To be self-sufficient and environmentally safe, e-waste recycling can be profitable; Where it can not be profitable, it was necessary to subsidise it. Some of these educators and government officials can not think in a commercial vacuum, let alone run.(8)
Urban Mining: A Difference Making Process for The Mother Planet
In conclusion to the whole discussion , Urban mining deals with not only Materials & Metallurgical Engineering, but also with Environmental Science,Economics,Electronic & Electrical Engineering and what not. Now the wind of change is blowing on & urban mining can lead us into the next age of green technology and scrutinise the effect that humanity is having in this pale Blue Dot.This was all about ” Urban Mining ” & its tremendous impacts that have not just brought a positive change in human civilisation rather it’s going to bring about a bigger affirmative change in the whole planet in the days to come.”What we think is the end,is just the beginning ” might be our slogan and thus we would be able to discover a world without any waste through the rise of urban mining.