The Perth Mint Refinery is one of the world's largest and most advanced refiners of precious metals with product accreditation with the London Bullion Market Association (LBMA), the New York Commodities Exchange (COMEX), the Dubai Multi Commodities Centre (DMCC), the Shanghai Gold Exchange (SGEI), and the Tokyo Commodities Exchange (TOCOM).
The Perth Mint has an extensive global network of outlets for its products and services, and is a frequent and competitive buyer of precious metals, an activity managed through its Treasury.
The Perth Mint Treasury has several functions. It acts as a global distributor of physical precious metal to banks and wholesale clients and also provides pricing facilities. It also provides mining companies with a complete range of services, ranging from facilitating hedging to making the most competitive prices for precious metals sales, and performing location swaps.
Sale and Purchase of Precious Metals
The Perth Mint Treasury is well placed to provide competitive facilities for the purchase or sale of metal either in:
- Unallocated form, represented by a gold / silver credit in a metals account; or
- Physical form, where the client buys or sells physical metal in the form of doré or value-added product).
The Perth Mint Treasury can assist in forward sale, pre-payment and option facilities.
A location swap is the provision of either a metal account credit or physical metal in one location in return for either a metal account debit or physical metal in another location.
For example: A producer with physical gold in Perth, Australia needs to deliver this gold to London where they may have a funding arrangement. Instead of physically transporting the gold, The Perth Mint will provide the producer with a London account metal credit in return for the physical metal in Perth for a swap fee.