The medals for the London 2012 Olympics will be made by the Royal Mint, organisers announced today.
The Royal Mint will produce around 4,700 medals at its headquarters in Llantrisant, South Wales.
London 2012 chief executive Paul Deighton said: "We're delighted to be working with the Royal Mint, a company established in the UK for 1,100 years, to produce the London 2012 victory medals.
"The Olympic and Paralympic medals are presented to elite athletes at the biggest sporting event in the world on an individual's pinnacle career moment and we're pleased to announce that they will be produced in South Wales."
Royal Mint's chief operating officer Adam Lawrence described it as "great news" for the country, the company's 800 employees and its suppliers.
A shortlist of the UK-based artists who will design the gold, silver and bronze medals is being drawn up.
The final design will be announced next summer.