Royal Mint sources copper from mines across the world
Royal Mint linked to rainforest destruction
4th August, 2009
Government-owned Royal Mint admits it has no ethical sourcing policy
The government-owned Royal Mint has been linked to rainforest destruction in Madagascar and damaging mining practices in Chile.
In its annual report for 2008 it says it wanted to 'ensure that we understand the environmental impact of the suppliers we use and only select suppliers that use environmentally balanced practices.'
However, an investigation published in the Daily Mail found copper and nikel sourced by the company comes from mines causing significant environmental damage.
The Royal Mint produces 3 billion coins every year for countries around the world, making upwards of £8m in profit in 2008. In the UK alone there is estimated to be 28.2 billion coins in circulation - all manufactured by the Royal Mint.
It buys most of the metals used in producing coins from the London Metal Exchange (LME) but does not follow any ethical guidelines in choosing its suppliers, according to its annual report.
A spokesman for the company said it was a member of Sedex, the Supplier Ethical Data Exchange. However, this body does not require members to meet or commit to any ethical standards.
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