According to the Bible, those who ‘beat swords into plowshares’ are to be blessed, but what of whose who turn weapon system circuit boards into commemorative coins?
Coins and gold bars produced by The Royal Mint could soon be made from materials extracted from discarded military equipment, thanks to a new partnership between the coin maker and the Ministry of Defence.
The deal, announced this morning, will see The Royal Mint recover gold and precious metals from the circuit boards of old military equipment supplied by the MOD at its recycling facility in South Wales.
The plant, which is set to come online later this year, will tap a range of processes to extract gold, silver, copper, and other precious metals from electronic devices, including patented chemistry from Canadian company Excir.
“It is fantastic to see this new, innovative technology being used to recycle old defence equipment,” said Defence Minister, the Earl of Minto. “Finding new ways to reduce the costs of disposing of our waste whilst minimising our impact on the environment is a valuable area of work. I very much look forward to seeing the positive impact of the new facility in Wales.”
The partners said the deal would see tonnes of retired and surplus defence equipment securely processed at the plant each year, noting the goods typically contains high levels of gold and other rare metals.
The Royal Mint will purchase the materials once they have been extracted from the military assets and circuit boards.
A spokesperson for The Royal Mint told BusinessGreen the gold and other metals recovered at the plant will go into a number of product lines, including collectible, commemorative coins which are minted in gold, or investment products such as gold bars or bullion coins.
The deal with the MOD comes as The Royal Mint is in the process of striking deals with a number of organisations across the UK that could provide electronic waste for its new plant
Once fully operational, the multi-million-pound plant will be capable of processing up to 75 tonnes of electronic components per week – the equivalent of 75 small cars – producing hundreds of kilograms of gold each year, The Royal Mint said.
“The Royal Mint’s new plant has the capability to recover gold and other precious metals from circuit boards in large quantities here in the UK, at ambient temperatures; safely recovering materials from the entire circuit board,” said Mark Loveridge, business unit director for precious metals recovery at The Royal Mint. “We are proud to be working with partners from across the UK, including DESA [the MOD’s Defence Equipment and Support organisation] allowing The Royal Mint to become a leader in sustainable precious metals.”
Richard Whalley, head of the Defence Equipment Sales Authority (DESA), said the partnership would be a “key enabler” for the MOD’s “sustainability and circular economy journey”.
“It is DESA’s pleasure to work with The Royal Mint to convert redundant non-saleable defence assets into a valuable resource, whilst also reducing disposal costs, minimising environmental impacts and securing the UK’s access to this new source of critical minerals.” he said. “DESA looks forward to working with The Royal Mint over the months and years ahead to further develop this partnership and fully investigate the possibilities of this new process.”
The metals recycling plant is part of The Royal Mint’s ongoing effort to diversify its business as cash use declines. The UK’s oldest recognised company its original coin maker, in recent years it has expanded into precious metals investment, historic coins, and luxury collectibles.
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