The Royal Mint's Innovative Approach to Sustainable Gold Sourcing
The Royal Mint, a historic institution with over 1,100 years of experience in coin production, is taking a significant step towards sustainable precious metal sourcing for its luxury jewellery line. The organization has launched an innovative factory in south Wales dedicated to recovering gold from electronic waste.
This state-of-the-art facility, under construction since March 2022, will have the capacity to extract gold from up to 4,000 tonnes of UK-sourced circuit boards annually. These circuit boards are salvaged from discarded electronic devices such as phones, laptops, and TVs.
The recovered gold will be used in the Royal Mint's 886 jewellery range, a high-end collection of rings, necklaces, and earrings launched in 2022. These exquisite pieces are available online and at the boutique in Burlington Arcade, Mayfair, London.
The gold extraction process at the new facility involves a two-step approach. First, the Royal Mint will separate components and metals from the circuit boards at a specialized plant. The gold-containing pieces will then be processed at the south Wales factory using a patented chemistry developed by Excir, a Canadian clean technology firm.
Excir's innovative method utilizes a spinning drum to wash the circuitry pieces in a special acid mix, dissolving the gold in just four minutes. This method offers a more energy-efficient alternative to traditional high-temperature extraction methods.
To produce a single 7.5g gold ring from the 886 collection, roughly equivalent to the weight of a £1 coin, approximately 600 mobile phones need to be processed. The Royal Mint plans to expand the use of recovered gold to other business areas, including commemorative coins.
This new venture aligns with the Royal Mint's strategy to diversify its operations in response to declining cash use. As a wholly-owned subsidiary of the UK Treasury, the Royal Mint pays an annual dividend to the government, with remaining profits reinvested in the business.
"The Royal Mint is transforming for the future, and the opening of our precious metals recovery factory marks a pivotal step in our journey," said Anne Jessopp, Chief Executive of the Royal Mint. This initiative demonstrates the Royal Mint's commitment to sustainability and innovation, ensuring a responsible and environmentally conscious approach to precious metal sourcing for its luxury jewellery line.