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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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Perth Mint export triumph reflects Australian gold sector growth

Topics [ gold market gold bullion gold bars gold mining ]

The Perth Mint’s success in exporting AUD11 billion worth of gold to China in the past year reflects the increasing significance of the Australian gold sector.

There are currently 66 gold mines operating throughout the country, including 14 of the biggest in the world, according to this Channel 9 News report.

Eleven of those are in Western Australia, the nation’s biggest gold State, where four new mines are also currently under construction.

That adds up to employment for about 25,000 people, around double the number it was 10 years ago.

Processing virtually all of Australia’s newly mined gold, as well as supplies sourced from surrounding countries like New Zealand, PNG, Malaysia and Thailand, takes place at The Perth Mint refinery. As Perth Mint CEO Richards Hayes tells reporter Rebecca John, much of it is made into kilo bars for China, individually worth around AUD55,000 at current prices.



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Perth Mint CEO shines light on Australian gold exports in live business broadcast

Topics [ financial crisis gold market ]

It was a case of lights, camera, action at The Perth Mint this morning as leading figures from Western Australia’s business community gathered to report on the State’s economic fortunes live on Channel 9.

Among the guests joining Today Perth News host Tracy Vo was Richard Hayes, CEO of The Perth Mint, who was invited to discuss the current strength of demand for Australian gold.

Mr Hayes said that The Perth Mint, which refines more than 90% of Australia’s annual gold mine output, was currently experiencing strong demand from China, the world’s leading destination for Australian gold exports.

“To give you some idea how that has increased in recent times, in 2011 we exported about 100 tonnes of gold to China,” he said. “Last year we did 230 tonnes of gold to China.”

“Our export numbers are about AUD17 to 18 billion a year and last year AUD11 billion went to China,” he said.


Richard Hayes, CEO of The Perth Mint, with Channel 9 interviewer Tracy Vo during today's live broadcast.

Mr Hayes added that investment was also fuelling demand for gold. Historically, demand for gold has increased at times of international crisis and upheaval.

“As people are looking to diversify their asset portfolios… gold is increasingly a commodity in which they are storing a portion of their wealth.”

“If you look at the world today… at geo-political instability, China, Russia, North Korea, what’s happening in the Middle East, gold is and always has been that ultimate store of wealth,” he said.

Others taking part in Channel 9’s business special from The Perth Mint’s gold exhibition were REIWA’s Hayden Groves; property valuer Gavin Hegney; Andrew Tomich of Hudson Recruiting; financial planner David Sharpe; James McGlew from Argonaut Securities; and Phil Thick from Tianqi Lithium.



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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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Perth Mint CEO to headline precious metals investment symposium

Topics [ gold market gold investment ]

The Perth Mint’s Chief Executive Officer, Richard Hayes, a precious metals industry expert, will headline a key group of speakers at the 7th Annual Precious Metals Investment Symposium, being held in Sydney in October.

A thought leader on the global precious metals market, Mr Hayes will share his knowledge and unique insights into the industry at the two-day event. He will also discuss the ‘case for gold’ and investing long-term in precious metals to build wealth and reduce risk.


Perth Mint Chief Executive Officer, Richard Hayes.

Symposium conference organiser, Kerry Stevenson, said, “As the leader of one of the world’s most prestigious precious metals businesses, we are delighted that Mr Hayes will kick off the Symposium.”

“Richard has a vast knowledge of the precious metals industry and I have no doubt delegates will be left both impressed and delighted,” she said.

Since taking the reins at The Perth Mint in July 2015, Mr Hayes and a new executive team have devised a business strategy to position the organisation as a global leader in the precious metals industry.

Mr Hayes is bullish about precious metals. “There is much to learn from the fortunes and misfortunes of others when it comes to investing in an asset of true value – gold,” said Mr Hayes.

Mr Hayes is currently the Chairman of the Gold Industry Group. With a finance and economics background, he has 30 years’ experience in the investment and precious metals sector. He joined Gold Corporation (trading as The Perth Mint) in 2003 as Chief Financial Officer and Deputy CEO, and previously held senior positions with AGR Matthey and Golden West Refining Corporation Ltd. 

With a theme of Investing for Real Wealth in a Volatile Global Market, this year’s forum will provide an opportunity for Australia’s business leaders and investors to come together to engage and network in one of Australia’s most important sectors.

The Precious Metals Investment Symposium will be held at  Four Points by Sheraton, Sydney Darling Harbour on Monday 10 and Tuesday 11 October 2016.

Mr Hayes will deliver his keynote address at 9am on Monday 10 October 2016.

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World Gold Council: Investor demand for gold soars in Q2 2016

Topics [ gold market gold investment ]

Some key findings of the latest WGC Gold Demand Trends report:

 • Q2 2016 continued in the same vein as Q1 with overall gold demand growing to 1,050 tonnes, up 15% from the Q2 2015.

 • Q2 investment demand was 448 tonnes, up 141% from 186 tonnes in the same period last year.

 • Investment has now been the largest component of global gold demand for two consecutive quarters – the first time this has ever happened.

 • H1 demand for coins, bars and especially exchange-traded funds reached 1,064 tonnes, up 16% from the previous first-half year record in 2009.

 • Western investors generated the bulk of this demand, with smaller-scale investors very much in evidence in the U.S. and Europe.

 • The jewellery sector was depressed, with high and volatile prices creating unfavourable conditions for consumers in most markets.

 • Q2 global jewellery demand fell 14% to 444 tonnes versus 514 tonnes in the same period last year.

 • At 77 tonnes, central bank demand decreased 40% in Q2 2016, compared to 127 tonnes in the same period last year.

 • Nevertheless, overall gold demand for Q2 2016 increased by 15% to 1,050 tonnes, up from 910 tonnes in Q2 2015

Download Gold Demand Trends Q2 2016



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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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