19MAY - 2023CXINSIGHTSTOWARDS A SUSTAINABLE PRECIOUS METALS INDUSTRYAn Interview With Mark Loveridge, Commercial Director for Sustainable Precious Metals and Electronics, The Royal MintAs the Commercial Director at The Royal Mint, what does a typical day look like for you? At the moment, a typical day sees me leading the implementation of a structure which will allow The Royal Mint to perform commercially when our precious metals recovery site is fully operational. The Royal Mint is investing in a multimillion-pound plant, which, when fully operational in the autumn, will safely process thousands of tonnes of the UK's electronic waste, extracting precious metals from circuit boards found in mobile phone and laptops. The gold will be used within the Royal Mint's Jewellery collection, 886. As the home of precious metals, we are addressing a global electronic waste problem, setting new standards in sustainable precious metals and reducing our reliance upon mined precious metals.My role entails recruitment, staff development, and implementing new procedures and systems; all elements to ensure the business is efficient when fully up and running. Furthermore, I spend time talking to potential partners, reviewing and contracting with suppliers, developing our proposition and marketing materials, identifying speaking opportunities and understanding the political landscape that will impact our business now and into the future. I balance my time across The Royal Mint site in South Wales, my home office, and spending time with industry, all in equal measure. My role helps to support the business' transformation strategy, ensuring it is fit for the 21st century.What are the recent trends or challenges in the manufacturing industry?The biggest challenge facing the manufacturing industry is adapting for net zero. Many processes can be carbon intensive due to demands on energy. Furthermore, when you start to consider scope 3 emissions within your supply chain, you don't always have the ability to easily choose a less carbon intensive, or net zero option. The disposal of printed circuit boards in the UK, until now, has been to collate and then ship them in bulk to a smelter in Europe or the Far East. This creates thousands of `waste' miles, large amounts of CO2, and uses vast amounts of energy.As the home of precious metals, sustainability is at the heart of The Royal Mint's long-term strategy. Our new precious metals recovery site will allow us to set new standards in sustainable precious metals, allowing printed circuit boards to be processed more sustainably. Many vertical markets face the same challenges in adapting for net zero, forcing them to search a little harder for solutions, invest in new technologies and sometimes, pay more- which forces you to find efficiencies elsewhere. I'm very confident that industries will find their way through and find solutions that in the long term will be cost advantageous, but it forces us all to think differently and to redefine what we mean by value. It's not just financial.Could you please elaborate on your role within The Royal Mint and any new initiatives you are a part of? The Royal Mint has been diversifying its business over a number of years to ensure it delivers for the future in a sustainable way. Later this year, we will open a multi-million-pound plant, which will safely and sustainably process thousands of tonnes of printed circuit boards from the UK's electronic waste. The plant will recover the precious metals at ambient temperatures, whilst also treating all other elements of the board. It's a world first and a key part of our net-zero plans. Mark Loveridge serves as the Commercial Director for Sustainable Precious Metals and Electronics at The Royal Mint. With extensive experience in VC, PE, and government sectors, he possesses a strong knowledge base in policy implementation, liaising with HM Treasury, and global payment policies.
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