The world’s largest jewelry manufacturer, Danish Pandora, plans to completely abandon the use of newly mined gold and silver and completely switch to recycled materials within the next 5 years. According to the company, this will reduce carbon emissions by two thirds for silver and more than 99% for gold. In addition, it will significantly reduce water use in metal mining.

“Metals extracted centuries ago are as good as new metals,” said the head of the company, Alexander Lachik (quoted in Bloomberg). He explained that this approach would not affect the quality and cost of products.

Now the company already uses 71% of recycled gold and silver to create its jewelry. According to Pandora, the share of recycled silver in the world market is 15%.

After this statement, Pandora’s shares rose in Copenhagen by almost 5%. The market value of the company was 33.37 billion crowns.

Source: Forbes