Rapid Industrialization and the development of advanced technologies have hastened industrial activities. This generates millions of tonnes of waste annually, which is anticipated to ascend to about 2.2 billion tonnes per year by 2025. Several unrecovered metals in such a vast amount of waste are nonferrous metals such as aluminum, copper, chromium, etc., and precious metals such as silver, gold, and platinum. This improper management of waste generated may cause a consequential threat to mankind and is pernicious to the ecosystem. Contemporarily, industrial wastes are either disposed of in the environment, incinerated, or used in construction. Due to these malpractices, precious metals are lost and toxic compounds from wastes are leached into the environment. At present several methods are developed and devised for waste management along with metal recovery. It has been reported that metal recovery from industrial wastes is much easier and lesser power-consuming than from mineral ores. The use of microbial technology for the recovery of metals from industrial wastes has several advantages such as being environmentally friendly, high efficiency and economical. This chapter provides a comprehensive overview of the several methods and microbial-mediated mechanisms for recovery of precious metals from industrial wastes.