Found iPhone, unclaimed, useless?

An iPhone XR was left at my work, I tried to return calls/texts to let contacts know the location of phone, kept it on site and charged for owner to find. After a few days it was clear the owner had cut service off and after several weeks it still remained unclaimed. It's a new phone in good condition. Is there no way to now release ownership and use of this perfectly good device? I appreciate the tight security that Apple runs to prevent phone theft but there must also be a way to use a device that is essentially abandoned at this point. The lithium and materials are just wasted now and never able to even be turned in or recycled?