iPhone trash into cash

SAN JOSE, USA:As the mining subsidiary of Green Technology Solutions, GTSO Resources, closes in on a purchase agreement with Global Cell Buyers, it appears as though the deal couldn’t come at a better time. The impending release of Apple’s iPhone 5 is set to unleash an onslaught of mineral-rich e-waste into the marketplace.

How many iPhone 5s is Apple expected to sell? JP Morgan recently predicted that the electronics giant would move enough new units to add half a per cent to the U.S. GDP. That means consumers will be replacing a lot of smartphones with this hot new model–millions of them. What’s more, the iPhone 5 does away with Apple’s classic 30-pin connector, meaning that millions of electronic cables, attachments and accessories are now obsolete as well.

GTSO has plans to help turn this trash into cash, as per a press note.

“The EPA reports that in 2010, 2.44 million tons of electronics were discarded in the U.S. alone,” said GTSO CEO Paul Watson. “That’s an incredible windfall of lithium, gold, neodymium, rare earths and other valuable materials headed for the dump. Soon, we plan to send it to the bank, instead.”

Earlier this month, GTSO Resources signed a letter of intent to acquire Global Cell Buyers, an emerging U.S.-based e-waste recycling company, a move that could potentially allow GTSO to optimize recovery of pricey minerals from unwanted cell phones. The GTSO Resources is in talks with a leading e-waste recycler in Latin America, as well.

“We’re in the final stages of negotiation and plan to announce a completed agreement very soon,” Watson said.