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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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