Apple just struck $40M worth of gold...literally

iPhone recycling is Apple's latest gold mine
iPhone recycling is Apple's latest gold mine

Looks like 2,204 is the magic number for Apple. Or 40 million, depending on which way you want to look at it.

Apple announced in its annual report that last year, they recovered 2,204 pounds (yes, more than a ton) of gold from recycled and broken products.

The total value of that gold is estimated to be about $40M.

And no, it wasn't from thousands of iPhone users hiding gold inside the crevices of their gadgets.

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Gold is often used in electronic products because it's both non-corrosive (on a higher level than silver and copper) and is a great energy conductor.

Apple also stated that it collected three million pounds of copper and 6,600 pounds of silver, both much higher quantities than the amount of gold they collected.

Don't let this fool you though. CNN reports that gold is currently trading at over $1K per troy ounce. Out of all the materials Apple recycled (including 23 million pounds of steel and 13 million pounds of plastic), gold was among the most valuable.

SEE ALSO: Here's why it would be a bad idea for Apple to build a $75,000 luxury car (tsla)

The recent initiatives by Apple to recycle as many damaged and used products as possible are an attempt to salvage and reuse the precious materials still contained in the devices.

In its Environmental​ Responsibility Report, the company stated:

'We work hard to keep electronic devices out of landfills so that the precious resources they contain can be reused...and we want to ensure that these devices are recycled properly so they don't pose a threat to human health or the environment."

Cheers to Apple for taking a step toward using renewable resources.

And if the company needs anyone need anyone to cash in on all that gold, we're totally available!

Now, check out this drone that's controlled by an Apple watch:

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