The Royal Mint unveiled an “innovative” factory which will recover gold from electronic scrap, allowing the manufacturer to create a sustainable source of precious metals for its luxury jewellery collection.
The factory, located in south Wales and under construction since March 20, 2022, will extract gold from 4,000 tonnes of circuit boards per year sourced from UK electronics, including mobile phones, laptops, and TVs.
The Royal Mint has been producing coins for over 1,100 years and has stated that the process could provide hundreds kilograms of gold each year for its 886 range of jewellery. The business launched in 2022 and sells rings, necklaces, and earrings from its Burlington Arcade boutique in central London.
Gold will be extracted by Royal Mint in two stages. The circuit boards are processed in a special plant that separates metals and components. The gold-containing pieces will be sent to the South Wales factory.
Excir, a Canadian company that specializes in clean technology, will be using patented new chemistry to recover gold at the factory in Llantrisant. The circuitry pieces containing gold are washed in a washing machine-style rotating drum with a special acid mixture that dissolves it in just four minutes. This is compared to other gold extraction methods that require more energy and are carried out at higher temperatures for longer periods of time.
The 886 collection of gold rings weighs about 7.5g, the same as a £1 penny.
The Mint stated that it would use the gold recovered in future in other areas of its business, including commemorative coins.
The Mint is diversifying its business to cope with the decline in cash usage. The UK Treasury owns the entire business and pays an annual dividend to the government. Profits are reinvested into the business.
Anne Jessopp, chief executive of the Royal Mint, said: “The Royal Mint has transformed for the future. The opening of our precious-metals recovery factory is a key step in our journey.”
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