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Bringing you news, views and analysis since 2013

Name change for The Royal Mint’s gold ETC

 

Europe’s ETF issuer HANetf has announced that its gold ETC has been renamed ‘The Royal Mint Responsibly Sourced Physical Gold ETC (RMAU)’. The ETC was previously known as ‘The Royal Mint Physical Gold ETC’.

The firm writes that the name change is to reflect The Royal Mint’s commitment to responsible sourcing of gold, and reducing its use of mined gold.

 

Earlier this year, The Royal Mint announced the first tranche of 100 per cent recycled gold bars in the ETC.  Circa 50,000 ounces of surplus gold has been re-refined into 400oz LBMA good delivery bars. Much of this surplus gold comes from ‘swarf’; gold dust that is discarded during the intricate engraving of larger, gold commemorative coins. 

 

The recycled bars will continue to be added to RMAU over time, and their number – as well as the sources of recycled material – will increase based upon future demand.

 

Andrew Dickey, Director of Precious Metals at The Royal Mint, comments: “The 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.  We are taking action to reduce our use of mined materials through a number of initiatives including our responsibly sourced ETC.  We’re 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.”

 

Hector McNeil of Han ETF, comments: “RMAU is a unique way to gain gold exposure; not only are its gold bars 100 per cent in compliance with the LBMA’s 2019 Responsible Sourcing guidelines, but a portion of the gold custodied is recycled. This reflects the Royal Mint’s strong commitment to ESG. We believed the ETC should also have a name that reflects this.

In just two years since listing, the ETC has seen its assets reach USD600 million, with AUM growth in 2022 over 100 per cent. 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.”

 

The ETC was created in February 2020 in collaboration with The Royal Mint.  The gold bars are 100 per cent in compliance with the LBMA’s 2019 Responsible Sourcing guidelines, the highest responsible sourcing standard within the industry.   RMAU’s gold is custodied at the Royal Mint’s highly secure vault in Llantrisant, South Wales.

 

 

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