At the MDC Internal Affairs meeting conducted on June 9, 2022, by a vote of greater than two thirds of those in attendance, it was agreed to change the name of the MDC Network Organization to the International Mint Directors Network – IMDN. The MDC acronym will now refer only to the actual Mint Directors Conference held every two years, with the next conference to be held in Ottawa Canada from October 15-18, 2023. IMDN will continue to be the forum for networking of the Minting Industry.
The Formation of the IMDA
At the same meeting it was agreed that all 41 IMDN (formerly MDC) members would be invited to lodge an Expression of Interest to join a funded organization to be called the International Mint Directors Association (IMDA). On the basis of the proposed IMDA work program presented, to date 19 Mints have agreed to join. Those Mints have been informed. While the initial Expression of Interest timeframe has passed, any sovereign Mints that wish to join are still welcome to submit a request for inclusion. Effective from September 2022, this Mint Industry Communique will be rebadged and provided only to IMDA members as well as a range of value-add activities and programs throughout the following twelve-month period. IMDA members will also have access to a secure IMDA members-only part of the Mint Industry website, which will provide information specifically relevant to the activities of IMDA members.
The Mints Visitor Experience and Viewing Galleries
Many of the world’s Mints have established museums and visitors’ centers that provide visitors with not just the history of their nation’s coins but in many cases notes as well. Many of the facilities provide the visitor with a visual experience that, in this greater digitalization of “everything”, may not be enough to attract repeat visits or more importantly create positive referrals. As a critical part of Mints’ community obligation to tell the country’s story of currency it is also recognized by many that the visitor experience paired with an outreach program can play a critical role in creating collectors of the future. With many thousands of visitors both young and old visiting these wonderful facilities the question Mints are now facing is how to create / invest in an experience that leaves such a strong impression on those who visited, whether live or virtual, that they sign up to become a member of the Mint’s numismatic / collector community.
From September 2022, IMDA proposes to start presenting case studies of what Mints are doing or planning to do, from which it is proposed to create an IMDA Museum sub-committee / forum. The new group will meet every four months to share information and discuss how, if feasible, Mints can work together to create applications that enhance the outstanding and immersive experience that visitors will increasingly come to expect.
Inaugural IMDA Sustainability
The Sustainability Sub-Committee of the International Mint Director’s Association was formed in May this year. Its aim is to support the global Minting Industry in the adoption and implementation of sustainability requirements that assist in keeping the industry relevant in a rapidly changing world. Inaugural members are Honey Mamabolo, Chief Executive, South African Mint; Leigh Gordon, Chief Executive, Royal Australian Mint; Michael Groves, Senior Program Advisor Sustainability & International Mint Liaison, Royal Canadian Mint; Inga Doak, Head of Sustainability, The Royal Mint; and Andrew Mills, Managing Director Currency, The Royal Mint.
The Sub-Committee has identified that a sustainability-based approach needs to consider a variety of different environmental, social and governance (ESG) related topics and therefore the industry needs to pursue real and measurable progress across all three themes. However, to help maximize impact and maintain focus, specific topics of focus will be identified, reflecting organizational and stakeholder needs and recognizing the international nature of the Minting Industry.
The first task completed by the Sustainability Sub-Committee has been the drafting of a Sustainability Charter for the Minting Industry. It is aimed to share this with IMDA members for approval during September, allowing it to be presented at the Coin Conference in Amsterdam this October.
The Sub-Committee is also engaged with the IMDN (previously MDC) Technical Committee to co-ordinate projects, avoiding any potential duplication and ensuring relevant sustainability requirements are integrated into existing and any new projects being identified.
It has also been discussing how each of the Sub-Committee members can exchange information and share best practise with the wider industry across a range of different ESG topics. One proposal is to develop a series of How to Guides, including different case study examples, and made available on the Mint Industry website to assist other Mints looking to start – or review – their own sustainability practices. Responsible Sourcing and Diversity and Inclusion have been identified as two initial topics of focus – however please do get in touch with any requests or suggestions!
Finally, anyone interested in joining the Sustainability Sub-Committee, and being part of this exciting opportunity to create a new business-as-usual for the Minting Industry, centered around sustainable business practices, please contact Andrew Mills.
For further information, visit the Mint Industry website.
This article was published in Mint Industry Communiqué August 2022.
