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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 Targets China For Growth

Topics [ gold market Australian Lunar silver market ]

WORLD OF GOLD

The Perth Mint is aiming to become a leading supplier of bullion bars and coins to China.

The gold market there is booming and growth looks like it will be sustained as Chinese citizens grow in wealth.

Banking official Zhou Ming said recently that demand for physical gold and gold-related investments was growing at an "explosive" pace, adding that interest in silver was “voracious”.

And with Beijing actively promoting retail consumption by increasing the number of banks allowed to import bullion, there’s a golden opportunity for us to position Australia as one of the leading suppliers to this huge market.

We have a number of advantages in this respect. We’re already one of Western Australia’s leading exporters – more than 90% of revenues earned from the sale of our bars and coins in 2010 was from exports. Being in our time-zone, China is a natural target for us.

Importantly, there is already recognition of our brand there, particularly the Australian Lunar series, which celebrates an important Chinese theme. Next year’s Dragon coins, which mark the most auspicious animal in the lunar calendar, can undoubtedly play a leading role in our promotional campaign.

The timing of our strategy also coincides nicely with new production capacity at The Perth Mint, which is due to come on line within months.

I recently returned from Shanghai where we’ve just appointed a China representative, who will initially be based at the Western Australia Trade Office. We’ll shortly be coordinating the search for professional retail distribution through this new arm of the Mint.

It is still early days, but we are optimistic that this is going to be a highly-successful development which will further strengthen the Mint’s reputation and the desirability of our leading precious metal investments and collectables.

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