The name change is to reflect The Royal Mint\u2019s commitment to responsible sourcing of gold, and reducing its use of mined gold.<\/strong><\/p>\nEarlier this year, The Royal Mint announced the first tranche of 100% recycled gold bars in the ETC.\u00a0 Circa 50,000 ounces of surplus gold has been re-refined into 400oz LBMA good delivery bars. Much of this surplus gold comes from \u2018swarf\u2019; gold dust that is discarded during the intricate engraving of larger, gold commemorative coins.<\/p>\n
The recycled bars will continue to be added to RMAU over time, and their number \u2013 as well as the sources of recycled material \u2013 will increase based upon future demand.<\/p>\n
Andrew Dickey, Director of Precious Metals at The Royal Mint<\/strong><\/span>, comments: \u201cThe Royal Mint is the home of precious metals and responsible sourcing is an integral part of our ambition to be a leader in the production of sustainable gold.\u00a0 We are taking action to reduce our use of mined materials through a number of initiatives including our responsibly sourced ETC.\u00a0 We\u2019re delighted that our ETC will reflect this with the name change and we hope that investors with a keen eye on sustainability will find this an attractive option.\u201d<\/p>\nHector McNeil of Han ETF<\/strong><\/span>, comments: \u201cRMAU is a unique way to gain gold exposure; not only are its gold bars 100% in compliance with the LBMA\u2019s 2019 Responsible Sourcing guidelines, but a portion of the gold custodied is recycled. This reflects the Royal Mint\u2019s strong commitment to ESG. We believed the ETC should also have a name that reflects this.<\/p>\nIn just two years since listing, the ETC has seen its assets reach $600 million, with AUM growth in 2022 over 100%. Partly that reflects the broad macro environment in which gold is seen as a favourable asset. However, we also believe it reflects a growing desire among investors to gain access to this vital asset class in a more sustainable way.\u201d<\/strong><\/p>\nThe ETC was created in February 2020 in collaboration with The Royal Mint.\u00a0 The gold bars are 100% in compliance with the LBMA\u2019s 2019 Responsible Sourcing guidelines, the highest responsible sourcing standard within the industry.\u00a0\u00a0 RMAU\u2019s gold is custodied at the Royal Mint\u2019s highly secure vault in Llantrisant, South Wales.<\/p>\n
Established over 1,100 years ago, The Royal Mint is the oldest organisation in the UK and is known globally for producing market-leading gold, silver and platinum bullion coins and bars. The Royal Mint is committed to upholding the highest ethical standards, and only work with precious metals suppliers who share their values and comply with their strict criteria.<\/strong><\/p>\nSource: ETFWorld.co.uk<\/p>\n","protected":false},"excerpt":{"rendered":"
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