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Indian Company Invests $10 Million to Boost Extraction of Gold from E-Waste
In addition, the company announced plans to set up huge e-waste recycling plants in other Indian cities such as Delhi and Mumbai.
Cerebra Integrated Technologies Ltd.-one of India’s largest e-waste recycling service provider in the organized sector announced plans to invest $10 million to boost extraction of precious gold from electronic waste. The company, which currently operates a recycling facility at Narasapura near Kolar in Bengaluru, aims to set up a second plant. In addition, the company announced plans to set up huge e-waste recycling plants in other Indian cities such as Delhi and Mumbai.
According to v. Ranganathan, Managing Director, Cerebra, nearly around 5-6 million tonnes of e-waste are generated in the country every year. Majority of this e-waste are collected by informal sector players, who treat them in an unscientific manner. This leads to emission of harmful chemicals and substances, causing severe environmental issues. Due to unscientific treatment of e-waste, the country loses around INR 19,000 crores worth of valuable items such as gold, silver, platinum, palladium etc., which could be recovered if treated in a proper way. The loss of gold alone comes to around INR 6,400 crores per annum.
The E-Waste handling Rules 2016 and the recent amendment to it in March this year are likely to transform e-waste recycling industry into organized business. The strict enactment of the law would help to eliminate unorganized e-waste handlers and unlicensed recycling or dismantling centers.
