Canada hits surprise trade surplus on energy, gold exports
Strong international appetites for gold also pushed up Canadian exports, with metals and non-metallic mineral deliveries up 11.8% in June.
The UK Royal Mint has opened a pioneering facility in South Wales dedicated to extracting gold from e-waste, in a move that would provide a more sustainable source of the precious metal and reduce dependence on traditional mining methods.
The 3,700 square metre Precious Metals Recovery factory uses world-first patented chemistry from Canadian clean tech company Excir. With this technology, the Mint will extract gold from printed circuit boards (PCBs) found in everyday electronics such as TVs, laptops, and mobile phones. This method works in a matter of minutes and operates at room temperature, making it both energy-efficient and cost-effective, the Mint said.
The facility marks the first time Excir’s technology is scaled from laboratory conditions to an industrial level, with the capacity to process up to 4,000 tonnes of e-waste PCBs every year.
The Royal Mint, the UK’s oldest company and only coins maker, said the method allows it to “mine” high-quality 999.9 purity gold, which is already being utilized in their luxury jewellery collection 886.
The launch of this facility addresses the growing environmental challenge posed by e-waste. According to the United Nations’ Global E-waste Monitor, generation of electronic waste across the world is increasing by 2.6 million tonnes annually, reaching a record 62 million tonnes in 2022 — an 82% rise since 2010.
The Royal Mint’s plant aims to mitigate this issue by ensuring valuable finite resources are recovered and other materials are appropriately processed for onward treatment.
“The opening of this factory marks a pivotal step in our journey,” chief executive Anne Jessopp said in a statement. “We are not only preserving finite precious metals for future generations, but we are also preserving the expert craftsmanship The Royal Mint is famous for by creating new jobs and re-skilling opportunities for our employees”
The Royal Mint has been engaging with major industry bodies to aid in the development of the first International Organization for Standardization (ISO) standard for recycled gold. This initiative aims to provide clarity to the industry, end consumers, and other stakeholders.
“The factory underpins our commitment to using sustainable precious metals and providing a new source of high-quality, recovered gold,” Sean Millard, chief growth officer, said. “It allows us to reduce our reliance on mined materials and is another example of how we’re working to decarbonize our operations.”
An ongoing global decline in the use of cash has prompted The Royal Mint to innovate and diversify. Earlier this year, it announced the closure of its Overseas Currency division, with all 230 staff offered roles in new and expanding business areas, including the now open Precious Metals Recovery factory.
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