Australian-born jeweller Michael Hill has launched a new gold recycling program in a bid to align with the rise of a circular economy.
Titled ‘Re:cycle’, it is the first phase of the company’s new sustainable jewellery ecosystem which focuses on the renewal and circularity of existing precious metals and products. Michael Hill said precious metals used to craft jewellery can be refined and recycled repeatedly, without losing their value or purity.
The jeweller is encouraging Australians to bring in broken, old or no longer worn gold jewellery pieces in exchange for its value on a Michael Hill gift card.
The circularity program was launched in partnership with Morris & Watson, a fourth-generation family-owned precious metal services company.
The gold from each piece of jewellery sent in will be recycled, through a refining process, ready to be reused and lessening the need to source new, virgin material.
Michael Hill CEO Daniel Bracken said the jeweller’s aim is to have all its products to be sustainable, responsible or circular by 2030.
“We are fortunate to work with precious metals that never tarnish or decay, allowing us to provide an innovative service whilst building a more circular economy,” Bracken said.
“How we source and manufacture our products impacts our planet, and this Re:cycle program is our first major foray into jewellery circularity, and evolving the jewellery industry towards a more sustainable and ethically responsible future.
“Through research, we know that recycling 1g of pure gold can reduce an estimated three tonnes of ore extraction and avoid up to 16kg of carbon emissions. This program, combined with our customers allows us to contribute towards reducing the need for virgin-mined gold.”
Customers can either choose to pick up a free Re:cycle kit from any Michael Hill store or order it online via Michael Hill’s dedicated gold recycling website.
When ready with their gold, customers can visit the website to enter their details and photos of the items in exchange for a postage label. Once the gold pieces are sent to Michael Hill’s support office, they are assessed and valued by Michael Hill’s experts, with customers offered a Michael Hill gift card in exchange.