LBMA confirms The Perth Mint’s place on Good Delivery List
The Perth Mint welcomes the announcement by the London Bullion Market Association (LBMA) that it has completed its Incident Review Process and confirmed The Perth Mint’s place on the Good Delivery List of refiners.
The LBMA invoked the Incident Review Process in March 2023 in response to media allegations about The Perth Mint’s historical conduct.
Announcing its decision to retain The Perth Mint on the Good Delivery List following completion of the Incident Review Process, the LBMA determined there are elements of The Perth Mint’s management systems which need to be strengthened through a Corrective Action Plan, audited by a third-party auditor. The LBMA noted the credibility of The Perth Mint’s assay lab was never in question.
The LBMA is a long-term and valued partner of The Perth Mint. The Perth Mint supported and worked closely with the LBMA throughout the Incident Review Process.
The Perth Mint CEO Jason Waters acknowledged the efficient and thorough manner in which the LBMA carried out the Incident Review Process.
“We greatly value our long-standing relationship with the LBMA and are committed to working through the Corrective Action Plan,” Mr Waters said.
“The Perth Mint has embarked on a comprehensive, fully funded program to remediate our anti-money laundering processes and ensure best practice in everything that we do. This aligns with our commitment to meet our obligations to the WA Government, the community, the gold mining sector and our customers around the world.”
Statement from Sam Walsh AO, Non-Executive Chairman of The Perth Mint
The Perth Mint Chairman Sam Walsh AO has made a statement in response to recent media focus on the WA Government trading enterprise, including leadership changes and quality of gold bars.
The Perth Mint responds to LBMA review
Following media coverage in Australia about The Perth Mint, the LBMA has commenced an Incident Review Process to review any allegations raised.