Big business from scrap metals

Business, Normal

The National – Friday, February 18, 2011


THE small scrap metal industry is proving to be good business for some entrepreneurs at Waigani, Port Moresby.

Krishna Import and Export Scrap Metals buys mostly aluminum, copper, tin cans and car batteries and export them to Malaysia for recycling.

Manager Iga Uta said they ship over 21 tonnes of scrap metals per container on a bi-monthly basis, with each container carrying a mix of heavy metals like copper and tin cans.

He said they would ship five containers at the most, depending on the volume of scraps were able to buy.

The type of metals that Uta’s company buys could be classified as non-ferrous, meaning they do not contain iron.

Uta said the scrap metal industry was a very good short-term industry because eventually all scrap metals lying around in backyards and roadsides would soon run out.

“But in the meantime, I am going to villages and residential buy scrap metals and in the process help clean the environment.

“At Krishna, we charge K6/kg for burnet copper and K7/kg for clean copper. We also charge K2/kg for tin cans and the lowest we pay is 20t/kg for a mix of scrap metals,” he said.

He said his buying rates were dictated by the world market prices of metals, thus, it was higher than other times.

Uta said at the moment, they do not have a compressor which could crush car body parts and other light metals, so instead, they just deal with heavy metals.