The London Bullion Market Association (LBMA), the world's top accreditor of gold refiners, said on Thursday it was reviewing allegations that Perth Mint had sold 'doped' gold to China.An Australian media report on Monday said Perth Mint, the world's largest processor of newly mined gold, may have to recal
The London Bullion Market Association , the world's top accreditor of gold refiners, said on Thursday it was reviewing allegations that Perth Mint had sold"doped" gold to China.
The Australian gold refiner, a member of the LBMA, rejected those allegations on Tuesday, saying there was no question about the value and purity of gold bars it had sold to customers in China, after it implemented new procedures following a 2021 review of its refining practices. The LBMA said its incident review process had been invoked and"any incident or issues that may impact the credibility of the Good Delivery List and the wholesale precious metals market are treated very seriously."
Addressing the review, Perth Mint said it was"constantly identifying areas for improvement in the business, including addressing historical practices," and described the industry body as a long-term partner.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Perth Mint's February gold sales fall to over 2-yr lowPerth Mint's gold product sales in February fell to their lowest in more than two years, while silver sales rose about 20 per cent on the month, the refiner said in a blog post on Wednesday.Monthly sales of gold coins and minted bars dipped 18.9 per cent to 52,241 ounces last month, from 64,395 in January
Read more »
Snow in London as cold snap puts pressure on UK energy systemLONDON – Freezing weather brought snow and ice to London and other parts of Britain, putting a strain on the country’s power and transport networks. Read more at straitstimes.com.
Read more »
Artist moves into rubbish skip in protest at 'crazy' London costsLONDON - An artist has built a home in a rubbish skip in London and plans to live in it for a year, seeking to draw attention to the 'crazy' price of renting a room in Britain's capital during a cost of living crisis. Harrison Marshall, 28, moved into the specially-adapted skip on a patch of grass in Bermondsey, south...
Read more »
UK regulator cracks down on illicit London crypto ATMsLONDON : Britain's markets regulator and police have swooped on suspected illegal crypto cashpoints (ATMs) across east London as authorities step up attempts to disrupt unregistered businesses deemed high risk for consumers.The Financial Conduct Authority (FCA), which last month launched a similar crackdo
Read more »
UK regulator orders London’s Heathrow airport to reduce airline feesHeathrow hit out at the decision, saying its costs have been hit hard by soaring inflation. Read more at straitstimes.com.
Read more »
Shanghai Gold Exchange denies report on 'doped' gold bars from AustraliaBEIJING : The Shanghai Gold Exchange (SGE) on Wednesday backed Perth Mint in denying that the Australian processor had sold it 'doped' gold bars and said it could take action to protect its reputation.'The relevant media failed to fulfill their responsibility to review the content, resulting in disseminat
Read more »