Lord Bourne: “The Mint is a shining example of global export success”
UK Government Minister visits Royal Mint in support of burgeoning overseas operations
UK Government Minister Lord Bourne will visit the Royal Mint’s headquarters in Llantrisant today (19 April) as part of ongoing engagement with the HM Treasury-owned coin production company.
The Royal Mint in Llantrisant was opened in 1968 and now employs more than 850 staff across its 35 acre site. The current Chief Executive and Deputy Master, Anne Jessopp, was appointed earlier this year and is the first woman to hold the role in the Mint’s 1,100 year history.
The Mint’s core function is the production of the UK’s coins, blanks (the metal discs minted into coins) and official medals. The company aims to provide financial return to the UK Government via its commercial operations, and has produced coins and medals for around 60 countries outside the UK.
Lord Bourne will reaffirm the UK Government’s continued backing of the world’s leading export mint by supporting the development of its overseas operations and new business ventures.
The mint currently holds a 15 per cent global market share and allows customers to trade bullion (gold, silver, and platinum) in the form of coins and bars, and store it in its own secure storage facility (The Vault). The site in Llantrisant is also home to The Royal Mint Experience, which opened in 2016.
UK Government Minister Lord Bourne said:
The Royal Mint is a crucial asset that adds real value to the makeup of South Wales’ economy; employing hundreds of staff, attracting thousands of visitors to its tourist attraction each year and putting Wales on the map via its extensive overseas operations.
As Britain prepares to leave the European Union, there has never been a better time to explore new opportunities for trade and export further afield. The UK Government will fully support all Welsh businesses who are eager to seek out new markets overseas.
Anne Jessopp, CEO of The Royal Mint, said:
I am pleased to host Lord Bourne to look at how The Royal Mint can work with Government and other partners to identify new business opportunities in the UK and beyond.
The Royal Mint is an established British brand. As the market for some of our traditional products changes, we are building on our reputation for trust and authenticity to move into new and exciting areas of business. Our focus is on innovation and partnership across a portfolio of products, ensuring that The Royal Mint remains a sustainable and relevant business for the 21st century.
Exports from Wales rose by 12.3% to £16.4 billion in the latest year on year figures, and Wales is home to nearly 4,000 exporters with an average value per exporter of more than £4.2million.
The UK Government has developed the Wales Export Guide – a document that sets out the full range of support available to Welsh businesses from the UK Government and contains inspiring stories of companies based in Wales that are successfully exporting.
You can download a copy of the guide here.