As the ESG spotlight shifts onto the mining and metals sector, there is increased interest in recycling as a source of green metals, a recent report by White & Case states.
According to the law firm, the ideas around the circular economy, where all aspects of the economy are repurposed and/or reused, align well with recycling, while relatively high commodity prices also make the often resource-intensive process of sorting and processing scrap more economically viable.
“Smelting scrap metal for recycling also requires significantly less energy than the initial process of refining raw minerals into metals, meaning lower emissions,” the document reads, highlighting the fact that the aluminum and steel industries are alone estimated to contribute 2% and 7% respectively of all global CO2 emissions.
White & Case’s report also points out that the shake-up of global supply chains by covid-19 and geopolitical conflicts has also shone a light on the downsides of interdependencies, leading countries to look inward for sources of commodities, including the potential uses for scrap.
For the rest of this article: https://www.mining.com/demand-for-green-metals-from-recycling-expected-to-grow-report/