There are several benefits of recycling metal cans such as conservation of energy, reduction in emission of greenhouse gases, protection of the environment from the harmful effects of mining and deforestation, etc.
Interestingly, the process of recycling metal cans and metal components from plastic cans such as metal closures and tin components can also have numerous beneficial effects on the economy.
Some significant advantages of recycling of metal cans on the economy are:
1.A cheaper alternative
The process of recycling of metals consumes less effort and costs less money in comparison to the method of extraction of metals from their ores.
The cost of the recycling process in recycling plants is cheaper than extracting metals ores from surface and subsurface mines.
The process of mining metal ores involves heavy equipment and revolves around activities such as mining, bombing, and deforestation. Even the extraction of metals from their ores takes more amounts of energy, resources, time and money in comparison to the process of recycling.
2.Generation of employment
According to the National Institute of Health, U.S.A., the process of recycling of metals creates 36 times more jobs than the process of extraction of metals.
This increased number of jobs in the economy will create more money inflow by doing more work. The increased money flow in the economy will help to create more employment opportunities. This healthy and self-sustainable growth cycle of the economy is possible if we prefer to recycle our metals rather than extracting them.
3.Reduction in trade deficits
Earth metals are unevenly distributed among different countries on our planet. Therefore, we need to import the minerals we need but do not produce in the required quantities.
This exchange leads to unfavorable trade balances on the part of importing countries. By choosing to recycle old metals, importing countries can reduce their trade deficits significantly and manage a healthy economic balance.
4.Utilization of waste materials
Metallic wastes are a liability on the economy. These wastes materials take up a large amount of space to store. Additionally, the cost of managing and dumping of such waste materials is an unnecessary expense on the economy.
Recycling of such metals wastes can solve the problem of unnecessary wastage of space and money. At the same time, we can utilize the recycled metals in multiple ways accordingly. This process can save a lot of money, space, and labor for the economy.
5.Reduced cost of production
Scrap and recycled metals can have different types of industrial usage. Many industries use recycled metals for the manufacturing process. Thus, it decreases the demand for newly extracted metals. The cost of recycled metals is less as compared to the cost of extraction of metals from their ores. The usage of recycled metals reduces the production costs of goods and services in the economy.