Meet the man behind Iowa’s critical mineral “urban mining”

Critical minerals are in high demand for US-based manufacturing, but access has become a pressing concern. Can a new Iowa startup solve the problem for the country? Daniel Bina, CEO of Critical Materials Recycling explains how their partnered with Iowa State University will commercialize what is known as “urban mining.” 

Presently, companies send spent electronics and unusable technology overseas for labor-intensive processing. It’s expensive and inefficient. Bina however, says their urban mining approach can extract valuable materials and minerals right here in Iowa. Does that mean Iowa is the center of a new, and quite literal, gold rush? He’s banking on it. 

What is Urban Mining?

In simple terms, urban mining is the process of reclaiming raw materials from spent products, buildings, and waste generated by cities, rather than digging them out of the ground through traditional mining.

Think of our cities as “above-ground mines.” Instead of a vein of gold in a mountain, we look at a mountain of old smartphones. Instead of iron ore in a pit, we look at the steel beams in a demolished warehouse.

Currently, materials are shipped to other counties where they are torn apart and sorted by hand. Then US manufacturers buy back that material at a premium. The urban mining idea isn’t new, but commercialization and scale are the differentiators. Bina his team has partnered with Iowa State University to revolutionize Iowa’s critical mineral and critical material sector.

Is Iowa at the center of the critical material gold rush?

Thanks to Dentons Davis Brown for collaborating with The Iowa Business Podcast to bring incredible value to our listeners! Collaborators compensate our hosts directly for their time and effort crafting exclusive content.