By Lewis Jackson
Reuters
via Nasdaq.com, New York
Thursday, April 20, 2023
SYDNEY — Western Australia state said today it will launch a review of its ownership of The Perth Mint, the world’s largest processor of newly mined gold, as the company battles allegations it sold diluted gold to China.
Australian media reported last month Perth Mint may have to recall a potential $9 billion worth of diluted or “doped” 1-kilogram gold bars sold to top consumer China.
The Perth Mint rejected the allegations and remains accredited by the London Bullion Market Association, the world’s top accreditor of gold refiners.
Western Australia will commission an independent assessment of the regulatory, financial and other risks stemming from state ownership of Gold Corporation, which owns and operates The Perth Mint, it said in a statement.
The review will assess the value which the state government receives from Gold Corp. and whether “its ownership structure aligns with State Government goals.” …
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Source – GATA
