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This blog discusses The Perth Mint's bullion coins and bars, providing information about our latest designs, mintages, sales volumes and sell outs. On a broader front, we share relevant research and opinions for anyone interested in gold and silver bullion investing.

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Facts behind gold’s huge importance revealed

Topics [ gold market gold refining ]

It is a well told story that the discovery of gold helped transform 19th century colonial Australia into one of the most economically dynamic and socially diverse nations of the modern era.

Probably less well known is the fact that gold continues to play a fundamentally important role in the Australia’s fortunes, providing employment for thousands of people, particularly in regional communities, and generating wealth for the nation via taxes and royalties.

Unveiled today, research compiled by the Gold Industry Group in association with Deloitte Access Economics reveals that:

 • Australian mines produced more than 280 tonnes of gold, about 9% of global production, in 2016.

 • The gold mining sector currently provides full time employment for more than 26,000 people.

 •  About 50% of investment in mineral exploration goes to the gold sector – worth AUD 617.6 million in 2016.

 • Australia now has 66 operating gold mines, and 14 of the world’s largest.

 • The direct contribution of the mining of gold ore is estimated to be AUD 5.9 billion.

Which all helps to explain why Australia continues to be ranked second on the Reuters/GFMS league table of most prolific gold producing nations.



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Inaugural Gold Industry Group networking event at The Perth Mint

Topics [ gold market gold refining gold mining ]

GOLD INDUSTRY GROUP

The Western Australian Gold Industry Group held its inaugural industry networking event last night in the historic surroundings of The Perth Mint’s original melting house.

Addressing some 90 members, Perth Mint CEO and Gold Industry Group Chairman Richard Hayes emphasized the organisation’s value in providing a unified voice for the industry. He said not only were its activities aimed at promoting gold across Australia and beyond, but “also engaging and educating our community on the contribution and value that this industry brings to society.”


Richard Hayes addressing the Gold Industry Group’s inaugural industry networking event at The Perth Mint.

Making a significant contribution to the economy, Western Australia’s gold sector is responsible for 6% of the world’s total output. Gold Industry Group members provide opportunities throughout the entire value chain - from exploration and mining, through to refining, fabrication and distribution.

“By supporting and educating our community and building relationships, we can make a difference to ensure a strong and sustainable future for Australia’s gold industry,” Mr Hayes said.

Also in attendance at The Perth Mint venue, Minister for Mines and Petroleum, the Honourable Sean L’Estrange MLA congratulated members for their collective efforts to promote the gold industry. “Gold is a sector that is incredibly important to the State of Western Australia and it's fantastic you’ve come together as an organisation to share your experiences and ideas,” he said.



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The Quest For Conflict-Free Metals Continues

Topics [ gold market gold refining gold refinery gold mining ]

CONFLICT-FREE METALS

Concerned consumers, organisations, and governments around the world continue to shine a light on conflict minerals. These tainted commodities are traded by private armed groups for monetary gain to finance civil conflicts and violence which contribute to the violation of human rights. Thus, the quest for ‘responsible’ and ethically sourced minerals is becoming more and more prevalent.

Conflict minerals, which can include gold ore, are smuggled out of countries such as the Democratic Republic of the Congo, and parts of Afghanistan, Columbia, and Zimbabwe, and shipped to smelters around the world for refinement. Once processed, it is near impossible to trace their origin. These minerals then enter global supply chains and end up being used in many applications, including popular consumer products such as mobile phones, televisions, laptops, and jewellery.

 

As companies become increasingly aware of the adverse effects of buying conflict minerals they are endeavouring to examine and investigate their supply chains, conducting due diligence in an effort to ensure they source their minerals responsibly, thus preventing conflict minerals from entering global markets.

The Perth Mint is one such company that has implemented a Conflict Metals and Supply Chain Policy.

Operating one of the largest gold refining operations in the world, The Perth Mint is committed to boycotting conflict gold and other minerals, with its supply chain due diligence systems and procedures compliant with the ‘responsible’ gold guidelines presented by the London Bullion Market Association (LBMA) and the Organisation for Economic Cooperation and Development (OECD).

In 2012, The Perth Mint also became one of the world’s first three gold refiners to be certified under the internationally recognised Conflict-Free Smelter Program (CFSP) developed by the Electronic Industry Citizenship Coalition and Global Sustainability Initiative (EICC) and Global e-Sustainability Initiative. The voluntary program provides credible third-party valuation of a smelter’s procurement activities to verify that the refiner can be deemed conflict-free.  

In addition to refining the majority of Australia’s newly mined gold, The Perth Mint also processes gold doré from surrounding countries, and jewellery scrap from Australia and Asia, and thus acknowledges it is extremely difficult to determine the origins of all recycled, second-hand or scrap gold.

“We are aware that gold mined in conflict countries has the potential to indirectly make its way to our refinery, so we are vigilant in our investigations into the credibility of our sources,” said Perth Mint Chief Operating Officer, David Woodford.

A positive assessment under the Conflict-Free Smelter Program’s authentication protocols gives Perth Mint customers assurance that the gold which passes through its refining facility is obtained from trustworthy sources.

Operating a fully integrated precious metals business, the refining of gold is the initial stage in the production of The Perth Mint’s extensive range of bullion, commemorative and industrial products.  With its activities and the quality of its products and services guaranteed by the Government of Western Australia, its ban of conflict metals is vital to its success. 

“With increasing institutional and private ownership of gold in the form of bullion bars and coins, the issue of conflict minerals is paramount for our investors, so we want to be sure we are providing them with socially responsible products,” he continued.

Today, there are now 80 conflict-free gold refiners across the world, which are recognised by the CFSP.

This article was originally published by The Gold Industry Goup, the independent industry body which promotes the importance of the gold sector in Australia.



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Perth Mint branded gold in great demand in China

Topics [ gold refining buy silver buy gold ]

MEDIA INTERVIEW

Richard Hayes, CEO of The Perth Mint, explains to 2GB’s Ross Greenwood how China’s continuing appetite for Perth Mint branded gold has contributed to its strong performance in the first half of this financial year.



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LBMA Grants The Perth Mint A Full Member

Topics [ gold refining gold refinery ]

NEWS

Having met the relevant criteria, The Perth Mint has recently been granted ‘Full Membership’ of the prestigious London Bullion Market Association (LBMA).

The Mint previously held an Associate Membership for a number of years and this enhancement acknowledges our ongoing commitment to the global precious metals market, and reflects our outstanding relationship with the LBMA.

As a ‘Full Member’, which represents the highest level of membership, The Perth Mint will now be able to vote on various issues deliberated upon at the Association’s Annual General Meetings, nominate candidates for LBMA Committees, and sponsor applications from other companies applying to become Members or Associates.

The LBMA is the international trade association that represents the market for gold and silver bullion. For more information, please visit www.lbma.org.uk.

Previously on the blog: Manufacturer Accreditation Provides Comfort To Investors



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Perth Mint First Refinery Accredited By Shanghai Gold Exchange

Topics [ gold refining gold refinery ]

REFINERY

Last week The Perth Mint was the first refinery to be officially recognised by the Shanghai Gold Exchange. While The Perth Mint’s bars have been imported into China for many years, the accreditation provides assurance to Chinese firms that the Mint’s bars are “good delivery”.

The Shanghai Gold Exchange accreditation confirms The Perth Mint’s standing as one of the most widely accepted marks in the international gold market, which it has been servicing for over 115 years. In addition to the Shanghai Gold Exchange accreditation, he Perth Mint’s brand is recognised by other leading gold and silver markets, including:

  London Bullion Market Association - first listed circa 1928

  CME Group (COMEX) - listed here

  Tokyo Commodity Exchange – listed here

  Dubai Gold & Commodities Exchange – listed here

China has become a major destination for the approximately 300 tonnes ($12 billion) of gold The Perth Mint refines from Australian and other regional mines each year.

Clarification: The Perth Mint is the first non-Chinese refinery to be recognised. SGE has accredited domestic refineries for many years.



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