The UK’s coin maker will process an annual 4,000 tonnes of e-waste at its new precious metals recovery plant in Llantrisant, south Wales, using an acid wash to rinse gold embedded in old circuit boards gleaned from phones, laptops and TVs.
The venture, which employs world-first patented technology, should yield around 450kg of the precious metal a year - worth around £27 million ($34.5m) which will be used in the Royal Mint’s exclusive jewellery collection.
It comes as the United Nations’ Global E-waste Monitor reveals a record 62m tonnes of e-waste was generated in 2022, while a mere 1 percent of rare earth element demand is met by recycling. Indeed, e-waste is rising five times faster than e-waste recycling.
Anne Jessopp, chief executive at The Royal Mint, described it as a pivotal moment in the company’s history. “We are not only preserving finite precious metals for future generations, but we are also preserving the expert craftmanship The Royal Mint is famous for by creating new jobs and reskilling opportunities for our employees,” she added.