World

Your Best Guide to Recycling Scrap Metal

Published

2 years ago

June 16, 2023

We can all readily agree that in today’s world, where environmental consciousness is at its peak, recycling has become an essential and fundamental practice. But there is an area of recycling that often goes unnoticed, and it’s ironic because it’s an area that might well benefit most of us: scrap metal recycling. When you recycle scrap metal, this not only helps preserve our natural resources – but it also offers numerous environmental and economic advantages. In other words, it could also bring money to your wallet! So how do you get started, and what materials can you recycle? Here’s your best guide to recycling scrap metal – and its real benefits.

Understand the importance of recycling your scrap metal

Recycling scrap metal reduces the need for extracting (mining for minerals) and refining virgin ores. When we reuse our existing metals, we can conserve valuable resources like copper, iron, aluminum, and steel, which are otherwise obtained through energy-intensive mining processes. When it comes to energy, it’s the same: recycling scrap metal requires significantly less energy compared to the production of new metals. The energy savings achieved through recycling can be as much as 90% for copper, 92% for aluminum, and 56% for steel, contributing to the reduction of greenhouse gases! Lastly, when we recycle our scrap metal, we prevent these materials from ending up in landfills, as confirmed by companies such as Langley Recycling. Metals can often take hundreds of years to decompose and may release harmful substances into the environment if not properly disposed of!

Types of scrap metal

There are different types of scrap metal for recycling, and these include ferrous metals and non-ferrous metals. Ferrous metals include iron and steel, commonly found in household appliances, automobiles, and construction materials. Meanwhile, non-ferrous metals include aluminum, brass copper, stainless steel, and lead. Non-ferrous metals are widely used in wiring, electronics, plumbing, and various consumer products.

Preparing scrap metal for recycling

Once you have found scrap metal, you need to prepare and sort it first. For instance, you must separate different types of metals to ensure maximum recycling efficiency. Use magnets to distinguish ferrous metals from non-ferrous metals, as ferrous metals are magnetic. Remove any non-metallic attachments, such as plastic, rubber, or wood, as these can affect the recycling process.

Locating scrap metal recycling centers

You can search for local facilities and locate nearby scrap metal recycling centers. These facilities accept various types of scrap metal and may even offer pick-up services. On the other hand, you can also utilize online directories and recycling websites to find reputable recycling centers in your area.

The benefits of recycling scrap metal

Most of us already know that recycling scrap metal helps reduce the demand for mining, thereby minimizing the destruction of natural habitats and ecosystems. In addition, recycling saves energy that would otherwise be consumed during the extraction, transportation, and manufacturing processes involved in creating new metals. Scrap metal recycling creates employment opportunities and contributes to local economies. The recycling industry also generates revenue through the sale of recycled metal, providing economic benefits for individuals and communities.

Recycling scrap metal is a win-win situation for both the environment and the economy. By embracing this practice, we can conserve valuable resources, reduce energy consumption, and minimize waste. Together, let’s make a difference by promoting the responsible recycling of scrap metal and working towards a sustainable future.

World

TRG Chairman Khaishgi and CEO Aslam implicated in $150 million fraud

Published

1 week ago

June 23, 2025

Jenny Jackson

In a scathing 52-page decision, the Sindh High Court has found that TRG Pakistan’s management was acting fraudulently and that Bermuda-based Greentree Holdings historic and prospective purchase of TRG shares were illegal, fraudulent and oppressive.

The Sindh High Court has further directed TRGP to immediately hold board elections that have been overdue and illegally withheld by the existing board since January 14, 2025.

In the landmark ruling, the Sindh High Court has blocked the attempted takeover of TRG Pakistan Limited by Greentree Holdings, declaring that the shares acquired by Greentree, nearly 30% of TRG’s stock, were unlawfully financed using TRG’s funds in violation of Section 86(2) of the Companies Act 2017.

“Having concluded that the affairs of TRGP are being conducted in an unlawful and fraudulent manner and in a manner oppressive to members such as the Petitioner (Zia Chishti), the case falls for corrective orders under sub-section (2) of section 286 of the Companies Act,” Justice Adnan Iqbal Chaudhry concluded.

The case was brought by TRGP former CEO and founder Pakistani-American technology entrepreneur Zia Chishti against TRG Pakistan, its associate TRG International and TRG International’s wholly-owned shell company Greentree Limited. In addition, the case named AKD Securities for managing Greentree’s illegal tender offer as well as various regulators requiring that they act to perform their regulatory duties.

The case centred around the dispute that shell company Greentree Limited was fraudulently using TRG Pakistan’s own funds to purchase TRG Pakistan’s shares in order to give control to Zia Chishti’s former partners Mohammed Khaishgi, Hasnain Aslam and Pinebridge Investments.

According to the case facts, the Chairman of TRG Pakistan Mohammed Khaishgi and the CEO of TRG Pakistan Hasnain Aslam masterminded the $150 million fraud. They did so together with Hong Kong based fund manager Pinebridge who has two nominees on TRG Pakistan’s board, Mr. John Leone and Mr. Patrick McGinnis.

According to the court papers, Khaishgi, Aslam, Leone, and McGinnis set up a shell company called Greentree which they secretly controlled and from which they started buying up shares of TRG Pakistan. The fraud was that Greentree was using TRG Pakistan’s funds itself. The idea was to give Khaishgi, Aslam, Leone, and McGinnis control over TRG Pakistan even though they owned less than 1% of the company, lawyers of the petitioner told the court.

This was all part of a broader battle for control over TRG Pakistan that is raging between Khaishgi, Aslam, Leone, and McGinnis on one side and TRG Pakistan founder Zia Chishti on the other side. Zia Chishti has been trying to retake control of TRG Pakistan after he was forced to resign in 2021 based on sexual misconduct allegations made by a former employee of his. This year those allegations were shown to be without basis in litigation that Chishti launched in the United Kingdom against The Telegraph newspaper which had printed the allegations. The Telegraph was forced to apologize for 13 separate articles it published about Chishti and paid him damages and legal costs.

After Chishti resigned in 2021, Khaishgi, Aslam, Leone, and McGinnis moved to take total control over TRG Pakistan and its various subsidiaries including TRG International and to block out Chishti. The Sindh High Court’s ruling today has reversed that effort, ruling the scheme fraudulent, illegal, and oppressive.

It now appears that Zia Chishti will take control of TRG Pakistan in short order when elections are called. He and his family are now the largest shareholders with over 30% interest. He is closely followed by companies related to Jahangir Siddiqui & Company which have over a 20% interest. The result appears to be a complete vindication for Zia Chishti and damning for his rivals Aslam, Khaishgi, Leone, and McGinnis who have been ruled to have been conducting a fraud.

TRG Pakistan’s share price declined by over 8% on the news on heavy volume. Market experts say that this was because the tender offer at Rs 75 was gone and that now shares would trade closer to their natural value. Presently the shares are trading at Rs 59 per share.

According to the court ruling, since 2021, shell company Greentree had purchased approximately 30% of TRG shares using $80 million of TRG’s own money, which means that that the directors of TRG Pakistan allowed company assets to be funneled through offshore affiliates TRG International and Greentree for acquiring TRG’s shares – a move deemed both fraudulent and oppressive to minority shareholders. The Sindh High Court also found illegal Greentree’s further attempt to purchase another 35% of TRG shares using another $70 million of TRG’s money in a tender offer.

The ruling is a major victory for the tech entrepreneur Zia Chishti against his former partners and the legal ruling paves the way for him to take control of TRG in a few weeks.