Post by account_disabled on Feb 21, 2024 17:53:50 GMT -10
Bloomberg Line: The Danish firm Pandora , considered the largest jewelry manufacturer in the world in terms of volume, will abandon gold and silver extraction ahead of schedule to focus 100% on recycled materials, which will allow it to generate CO2 reductions equivalent to 58,000 tons per year. year and take advantage of a segment with ample opportunities. Pandora CEO Alexander Lacik reported in an interview with the New York Times that the jewelry company planned to spend $10 million a year to supply 100% recycled silver and gold. He justified that these actions were more aimed at reducing the environmental footprint, rather than focusing on small miners.
The company's plan, which involved a team of 100 employees, will involve a higher cost compared to the price paid for the new mines but Pandora's CEO Switzerland Mobile Number List said they were willing to absorb it. “I'm also realistic about how important this is for jewelry buyers,” the CEO of Pandora, which sells more than 100 million pieces a year, commented in the interview. In any case, it will reduce the efforts and investments that mining exploitation required for the company.
In 2020, Pandora set a goal of purchasing only recycled silver and gold to make its jewelry by 2025, so the announcement comes sooner than expected. “Silver is the metal we use the most in our jewelry and, therefore, the place with the greatest impact to start our path towards circularity, ” the company had said. Jewelry in display cases at a Pandora AS store in Copenhagen, Denmark, Monday, dfd Pandora Jewelry displays in display cases at a Pandora AS store in Copenhagen, Denmark, on Monday,Bloomberg/Carsten Snejbjerg) In March of last year, Pandora launched a sustainability-linked bond worth 500 million euros maturing in five years. which precisely included the goal of using 100% recycled silver and gold byreported BloombergNews at the time.
With this measure, the company hoped to diversify its sources of financing. while reducing its dependence on bank loans. Pandora A/S stock has seen continuous growth since January 2023 and to date. On January 9 of the previous year, the share on the Copenhagen Stock Exchange was at US$77.6 and until the close of January 29, 2024. The share rose to . a variation of 89.6%, according to Bloomberg data .
The company's plan, which involved a team of 100 employees, will involve a higher cost compared to the price paid for the new mines but Pandora's CEO Switzerland Mobile Number List said they were willing to absorb it. “I'm also realistic about how important this is for jewelry buyers,” the CEO of Pandora, which sells more than 100 million pieces a year, commented in the interview. In any case, it will reduce the efforts and investments that mining exploitation required for the company.
In 2020, Pandora set a goal of purchasing only recycled silver and gold to make its jewelry by 2025, so the announcement comes sooner than expected. “Silver is the metal we use the most in our jewelry and, therefore, the place with the greatest impact to start our path towards circularity, ” the company had said. Jewelry in display cases at a Pandora AS store in Copenhagen, Denmark, Monday, dfd Pandora Jewelry displays in display cases at a Pandora AS store in Copenhagen, Denmark, on Monday,Bloomberg/Carsten Snejbjerg) In March of last year, Pandora launched a sustainability-linked bond worth 500 million euros maturing in five years. which precisely included the goal of using 100% recycled silver and gold byreported BloombergNews at the time.
With this measure, the company hoped to diversify its sources of financing. while reducing its dependence on bank loans. Pandora A/S stock has seen continuous growth since January 2023 and to date. On January 9 of the previous year, the share on the Copenhagen Stock Exchange was at US$77.6 and until the close of January 29, 2024. The share rose to . a variation of 89.6%, according to Bloomberg data .