GOLD – AUSTRALIA

WA Premier backs mint’s plan to refine rare earths

roymorgansocial Leave a comment

Original article by Tom Rabe
The Australian Financial Review – Page: 7 : 14-Apr-26

The Perth Mint currently processes more than 70 per cent of the gold that is mined in Australia, and it was Western Australia’s third-largest exporter in dollar value during 2024-25. John Van Der Wielen, the chairman of the Perth Mint’s state-owned parent company Gold Corporation, contends that the Mint could expand its operations to include the processing of criticial minerals such as rare earths. WA Premier Roger Cook says the state government would broadly support any such move; however, Perennial portfolio manager Sam Berridge says expanding the scope of the Perth Mint’s mineral processing would most likely require significant investment from the state government.

CORPORATES
PERTH MINT, GOLD CORPORATION PTY LTD, WESTERN AUSTRALIA. DEPT OF THE PREMIER AND CABINET, PERENNIAL VALUE MANAGEMENT LIMITED

Gold beats coal as iron ore drives export record

roymorgansocial Leave a comment

Original article by Nick Evans
The Australian – Page: 13 & 18 : 19-Dec-19

The Department of Industry, Innovation & Science now expects Australia’s resources exports to top $281bn in 2019-20. This is $4bn lower than was forecast in June, although it will still be a new record. Resources exports are forecast to fall to around $256bn in 2020-21, due to factors such as an expected fall in the iron ore price and the resumption of shipments from Brazil. This will see Australia’s iron ore exports fall to $65.5bn in 2020-21, compared with expectations of $84bn in the current financial year. Gold exports are tipped to reach a new high of $27.8bn in 2019-20, before falling to $25.9bn in 2020-21.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

Gold traders’ scam ripped off $1bn GST

roymorgansocial Leave a comment

Original article by Ben Butler
The Australian – Page: 21 : 1-Mar-18

The Australian Taxation Office estimated in February 2017 that goods and services tax fraud by gold traders had cost the federal government around $A700m in revenue. However, ATO deputy commissioner Timothy Dyce has told a Senate committee that the forgone revenue may now be almost $A1bn. He added that legislation enacted in April 2017 has closed the loophole which enabled gold traders to avoid GST liability.

CORPORATES
AUSTRALIAN TAXATION OFFICE, AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS, NATIONAL PARTY OF AUSTRALIA