RESPONSIBLE SOURCING AND MANUFACTURING
The Mint is committed to integrating sustainability into its strategy and governance process, creating direct ties to its business performance and accountabilities.
Being a responsible Mint means having a strong, ethical approach to corporate governance. Our north star is accountability. From how we source materials and manufacture our products, to how we choose our business partners, we are guided by strong management systems, risk assessments and mitigation measures as well as third-party auditing and public accountability.
We recently overhauled our procurement process and contract management guidelines to be able to strategically require our partners to hit certain sustainability metrics, which ultimately helps us build a more responsible supply chain, from end-to-end.
Our big picture sustainability commitments include supporting opportunities that help improve work conditions for Indigenous and women miners, as well as funding research and development into more sustainable and environmentally responsible processes.
Responsible Sourcing and Manufacturing
The Mint recently introduced a more sustainable process for bronze plating that eliminates the use of cyanide, a volatile chemical, traditionally used in the electroplating of yellow-plated coinage. Our Research and Development team, working with the Operations team in Winnipeg, created a new method replacing cyanide with less harmful chemicals that can be safely handled with an environmentally responsible wastewater treatment.
This innovative technology won the Best New Coin Product, Process or Manufacturing Innovation Award at the International Association of Currency Affairs 2024 Excellence in Currency Coin Awards.
Our collaboration with researchers at McGill University has resulted in a process that eliminates chlorine almost entirely from our gold refining process. The process is non-toxic, safer for our people and less energy-intensive. The traditional gold refining process has existed almost unchanged since the 1860s.
This breakthrough builds on previous work done in 2019 to reduce chlorine use in gold refining. At that time, the Mint introduced a new technology in the gold refinery process —acid-less separation (ALS)—reducing the need for chlorine gas by more than 50% in the Ottawa refinery.
Following lab scale testing and patent filing, the Mint will assess the feasibility of applying this technology to the production scale gold refining process.
The Mint's brand is synonymous with the purity, quality and security of our refinery bullion products. In 2024, the Mint became the first Canadian refiner to implement a Distributed Ledger Technology to perform end-to-end tracing and certify the provenance and integrity of gold deposited and processed in our refinery. This traceability – known as Bullion GENESIS™ - ensures buyers and sellers alike can be confident that gold refined at the Mint is responsibly sourced, tracked and documented, from mine to vault.
The Mint’s Responsible Sourcing (Precious Metals) Policy ensures refinery operations continuously meet rigorous and responsible sourcing standards. The Mint continues to be a certified London Bullion Market Association (LBMA) Good Delivery Refiner, with our Responsible Metals Program being audited against the LBMA’s Responsible Gold Guidance Version 9.
Read more about our Responsible Metals Program: Responsible Metals Program | The Royal Canadian Mint
The Mint is continuing our research into processes that minimize the use of new base metal material through increased recycling of coin cores.
The Mint is continuing to develop and implement guidelines that provide contextualized guidance on how to incorporate consideration for sustainability throughout the contract lifecycle stages of sourcing, procurement and post-award contract management.
The Mint is committed to adhering to the highest standards of business conduct in carrying out our vision. Our Code of Conduct and Ethics provides guidance for our employees and sets forth the core values of honesty, respect, pride and passion. As part of that commitment, employees complete mandatory online Code of Conduct and Ethics training.
The Mint holds our suppliers to the same standards as we hold our employees with our Supplier Code of Conduct. The Supplier Code responds to new legislation relating to child labour and forced labour and addresses many other sustainability requirements of suppliers.
The Mint’s Anti-Money Laundering/Anti-Terrorist Financing (AML/ATF) Compliance Program includes the appointment of an AML/ATF Compliance Officer, implementation of policies and procedures, regular assessment of risk mitigation measures, a compliance training program, and reviews of the effectiveness of the program every two years. The Mint’s AML/ATF Compliance Program responds with risk mitigation measures when considering new products and distribution channels and complies with Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) guidance for dealers of precious metals and stones.
The Mint is subject to the Access to Information Act and the Privacy Act. Its Access to Information and Privacy Coordinator has delegation of authority from the CEO for ensuring that requests for information are responded to in compliance with the Acts and related government policies, including employee training and awareness with a focus on assisting requesters. In 2024, the Mint was one of the first government institutions to implement the recently identified Treasury Board of Canada approved Access to Information and Privacy (ATIP) processing software, demonstrating its commitment to serving Canadians who request access to Mint records.
Mint employees have access to an independent, third party, confidential whistleblowing program for employees, contractors and members of the public to report allegations of wrongdoing. This service allows those making reports to do so anonymously should they wish. The whistleblowing program is an integral part of the promoting the Mint’s culture of right doing.
The Mint has developed a digital strategy with a strong focus on cybersecurity. We continue to grow our cybersecurity program by aligning with Government of Canada best practices and industry standards including a strategy on Artificial Intelligence (AI). This includes the establishment of an AI Council, providing terms of reference and guidelines for responsible AI use to employees with the goal of protecting privacy, mitigating risks, and enhancing productivity.
The Mint conducts tabletop exercises with teams across the organization to test our ability to respond to various scenarios, including loss of technology, loss of people, loss of business partner and loss of facilities. These exercises allow the Mint the develop strategies to mitigate the impact of these scenarios before they happen.
This section includes news and stories showcasing sustainability stories and initiatives at the Mint. Check back regularly for new features.
Generate widespread awareness and adoption of Traceability of Precious Metals technology solution (Bullion GENESIS™).
Achieve and maintain industry leading certifications.
Maintain transparent reporting by publishing the SASB Index (Metals & Mining). See 2024 Impact Report (page 32).
We are committed to acting responsibly by minimizing our impact on the environment, cultivating safe and inclusive workplaces and making a positive difference in the communities where we operate.