The Royal Mint in Llantrisant will make the medals for the 2012 London Olympics, it has been confirmed.
Around 4,700 medals are planned, although the final design will not be announced until next summer.
A shortlist of UK-based artists who will design the medals is currently being drawn up.
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.”