Michael Hill International has launched a new gold recycling program as part of the ‘first phase’ of an increased focus on sustainably using precious metals.
Customers are encouraged to trade in their worn-out, outdated, and broken gold jewellery for a Michael Hill gift card in exchange for value.
The ‘circularity programme’ was introduced in collaboration with Morris & Watson, a provider of precious metals services.
Daniel Bracken, CEO of Michael Hill, remarked, “We are fortunate to work with precious metals that never tarnish or decay, allowing us to provide an innovative service while building a more circular economy.”
The jewels industry is growing towards a more sustainable and ethically responsible future, and this programme is our first significant entry into jewellery circularity. How we acquire and manufacture our products has an influence on the environment.
‘Re:cycle’ is the name of the programme. Customers can pick up a kit in person or order one online from any Michael Hill location. Customers are provided with a gift card in return for their gold items once it has been evaluated and valued by Michael Hill‘s specialists.
Research has shown that recycling one gramme of pure gold can prevent up to 16 kilogrammes of carbon emissions and save an estimated three tonnes of ore extraction.
“With the help of our customers and this programme, we are able to help decrease the demand for newly mined gold.”
When Michael Hill recently revealed that it will pay $45.1 million to acquire retail competition Bevilles, the Australian jeweller industry was surprised.