The world's biggest private mint is in negotiations with the Falkland Islands to create a range of coins commemorating the late Prime Minister Margaret Thatcher.

Taya Pobjoy, managing director of the Pobjoy Mint in Bonsor Drive, Kingswood, said on Tuesday that since Baroness Thatcher's death yesterday the company has been working with the Falkland Islands to develop plans for the coins, but would not reveal any further details at this point.

She said: "A proposal has been passed to the Falkland Islands for some commemorative coins for Margaret Thatcher which is under review and we await their response."

In May 2007, Baroness Thatcher, alongside Sir Rex Hunt, who had been governor of the islands at the time of their invasion, visited the mint to launch coins marking the 25th anniversary of the Falklands War.

The coins were produced in cupro nickel, silver and a 22ct gold which cost £555 at the time. A coin was given to every schoolchild in the Falklands as a momento of the liberation of the islands in which Baroness Thatcher played such a key role.

Just last month, the people of the Falkland Islands voted overwhelmingly in favour of it remaining a UK overseas territory, in a referendum which took place following pressure from Argentina over its claims to the Islands, 31 years after its invasion, which sparked the Falklands War.

Ms Pobjoy said that the Iron Lady, who struck the very first Anniversary of Liberation coin, was an "amazing woman".

She said: "All my teenage years were while she was Prime Minister so she was an important figure in my life.

"We had a very good day when she came up and she was here for hours.  We all went out to lunch and she was telling lots of stories about her life and the Falkland Islands.

"Because of her background in Chemistry, she was very interested in the mint because we manufacture the coins here. 

"She knew all about the different machines and, being the first female Prime Minister, she also talked to me about what it was like being a female boss."