Urban mining turns old jewellery into pure gold โ here’s how
Urban mining, which recovers gold from items already above ground, has become a key supply source in New Zealand. At the forefront is New Zealand Gold Merchants, the countryโs largest dedicated bullion refinery, where a sharp rise in scrap gold volumes is entering its Onehunga facility.
โApril was our biggest month on record,โ said managing director Tony Coleman. โWeโre the largest buyer of gold jewellery in New Zealand, and most of it goes into refining. We call this urban miningโ.
For over 50 years, New Zealand Gold Merchants have been buying old and broken jewellery, and every piece has a story to tell. Back in the day, people found their way to the companyโs site in the industrial back blocks of Penrose. They would bring in treasures passed down through generations, sometimes dating ...