Defra has announced measures to improve the capture of precious metals and rare earth elements.

In its Resource Security Action Plan, the government has identified the need to help UK business become more resilient to variations in supply and demand for these raw materials. Eighty per cent of Chief Executives surveyed by EEF, the manufacturers’ organisation for the UK, said that shortages in the elements were a risk to their business in 2012.

The disposal of household goods, such as old mobile phones and laptops, means the UK is throwing away hundreds of millions of pounds worth of metals, including gold and platinum. Defra estimates that between now and 2020, the UK will dispose of 12 million tonnes of electronic equipment, a quarter of which will be IT equipment, consumer electronics and display devices. This, it says, would include 67 tonnes of palladium worth £1 billion at today’s market prices.

As part of the plan, financial support of up to £200,000 is being offered for local businesses to come up with new ways of reusing or recycling precious metals. Working with the Technology Strategy Board, Defra also aims to improve partnerships between manufacturers, waste companies and local authorities.

“Businesses are already feeling the heat from uncertainty in the supply of the speciality metals used in mobile phones, medical equipment and aeroplanes”, Environment Secretary Caroline Spelman said.

“I want to see British businesses taking advantage of this golden opportunity to boost growth and jobs through how we design products, while reusing, recycling or substituting valuable metals.”

Key actions in the plan also include creation of a new industry-led consortium to build up a fuller picture of the opportunities and risks, as well as developing a map of where, and how, precious metals come into and out of the UK in electrical and electronic equipment. The government also intends to set up a website providing information on the current and future availability of these materials to help manufacturers plan more effectively.

WRAP and the Environment Agency’s European ‘Pathways to Zero Waste’ report assessed potential global recovery opportunities of the EU’s 14 most critical metals and minerals to be worth approximately $US15 billion. Commenting on the potential market, Business Secretary Vince Cable said: “There are a wealth of opportunities that exist for businesses to capitalise from the valuable materials that are thrown away in unwanted electrical equipment each year.

“This plan will help UK businesses to better withstand any changes in both supply and price, make the most of emerging growth opportunities, create high-skilled jobs and compete on the world stage.”