To align and boost the adoption of a circular economy, Michael Hill has launched a gold jewellery recycling program called “Re:cycle” online.

The program marks the first phase of the company’s new sustainable jewellery ecosystem which focuses on the “renewal and circularity” of existing precious metals and products.

The company says precious metals used to make jewellery can be refined and recycled repeatedly without losing their purity or value.

Daniel Bracken, CEO of Michael Hill, said the ‘Re:cycle’ program is the retailer’s first major foray into jewellery circularity.

“Through research, we know that recycling 1g of pure gold can reduce an estimated three tonnes of ore extraction and avoid up to 16kg of carbon emissions.

“This program, combined with our customers allows us to contribute towards reducing the need for virgin-mined gold.”

Customers can recycle any broken or old gold jewellery pieces in exchange for their value on Michael Hill’s dedicated gold recycling website. They have to send photos and details of their pieces in exchange for a postage label.

Once assessed and valued by Michael Hill’s experts, customers will be a gift card that can be used in-store or online.

The retailer has partnered with a precious metal services company, Morris & Watson, on this initiative.

• Last week Michael Hill announced it had entered an agreement to buy Australian jeweller Bevilles.