The Royal Mint has partnered with Quintet Private Bank, Brown Shipley's parent company, to start using recycled gold in an exchange-traded commodity (ETC).

The Royal Mint Physical Gold ETC – listed on the London Stock Exchange with the ticker “RMAU” – will now be backed, in part, by bars made from recycled gold.

According to research from HANeft, this will make RMAU the world’s first gold ETC or exchange-traded fund (ETF) ever backed by recycled gold bars.

Quintet gave $170 million to RMAU to encourage this sustainable-investment innovation.

To make its sustainable aim a reality, gold will be extracted from electric waste such as laptops and smartphones.

RMAU seeks to combine the flexibilty and benefits of stock-trading with benefits of physical gold ownership, so it is seen as an attractive investment opportunity for individuals seeking exposure to an innovative and recycled product.

The first tranche of 100 percent recycled gold bars will include circa 50,000 ounces of surplus gold from bullion coin production refined into 400oz LDMA gold delivery bars.

The sources of recyled materials used and the number of recycled bars that will be produced will increase based on demand.

Andrew Dickey, director of precious metals at The Royal Mint, commented: "we already reuse a portion of our gold onsite to form gold bars, but this is the first time we have produced a dedicated recycled product for the use within our ETC offering"

James Purcell, group head of sustainable investment at Quintet, added: "we are committed to supporting people and planet by investing in innovation."