Umm - not round here. It just means re-using in whatever form (as is, deconstructed, in parts, as something else, with something else, etc.). I.e. repurpose in some form. In some industries it may have a specific strong implication along the lines you suggest but in common parlance round here it just means repurpose / not sent to landfill. It may or may not be processed for its parts/components, or found another use as it is. I suspect we may be talking about the difference between what people in the recycling industry mean and what the rest of the world means.
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