Is recycling cost-effective?

As in - which costs more - creating products from recycling, or making them afresh (eg glass from sand, mined metals, paper from timber)? I can imagine that recycling metals is cheaper than mining, but i find it hard to believe that it's cheaper to recycle glass and paper than it is to dig up some sand or... show more As in - which costs more - creating products from recycling, or making them afresh (eg glass from sand, mined metals, paper from timber)?

I can imagine that recycling metals is cheaper than mining, but i find it hard to believe that it's cheaper to recycle glass and paper than it is to dig up some sand or cut down a few trees.

We have to recycle anyway, to avoid drowning in our own filth as the landfill sites fill up. But is this the only reason, or is there are more short-term economic reason as well?
Update: Sorry that last bit wasn't very grammatical & I can't edit it!
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