The Perth Mint has expanded the market for Australian gold in China with its 
recent appointment as an International member of Shanghai Gold Exchange (SGE).

Since The Perth Mint became the first foreign refinery to be accredited by the 
SGE in 2014 as a Good Delivery refinery and thereby opening the Chinese market 
for Australian gold, more than 800 tonnes of Perth Mint gold valued at USD33 
billion has been delivered into China.

As an International member of SGE, The Perth Mint would now also gain access to 
an extensive network of gold distributers trading directly on the SGE platform 
throughout China, Perth Mint Chief Executive Officer Richard Hayes said.

"Australia is the world's largest exporter of newly mined gold, and China, 
being the world's largest consumer of gold and the largest importer of the 
precious metal, presents great trade potential for Australian gold," Mr Hayes 
said.  

Due to the ongoing development of relationships in China and the quality and 
availability of Australia's gold, Perth Mint manufactured bars have already 
attained the status of being the largest source of imported gold in the Chinese 
market for the past two years.

This prestigious appointment as an International member of the SGE further 
represents the strengthening of The Perth Mint's growing distribution network 
for Australian gold, joining a select group of bullion banks, refiners, 
jewellers and trading houses permitted to utilise SGE's platform to buy and 
sell gold.

"Traditionally, gold sales into China are transacted through dealings with 
international bullion banks and a select number of Chinese banks authorised to 
import gold bars from international suppliers," Mr Hayes said.

"Through SGE contracts, we will now have the opportunity to supply Australian 
gold to a much broader customer base of financial institutions and other 
resellers from stocks held in SGEI vaults for immediate delivery." 

Australia is the world's largest exporter of newly mined gold, the gold is of 
high quality and is ethically sourced, making the Australian commodity 
particularly appealing to Chinese investors.

"Our membership with SGE will certainly further raise awareness of The Perth 
Mint brand and strengthen our position as the largest supplier of gold in this 
premier precious metals market.

"Combined with our own direct distribution network we will continue to expand 
the means through which we supply the world's leading gold market with the 
highest quality Australian gold," Mr Hayes said.

Discover The Perth Mint at perthmint.com, and connect today on:
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ENDS


SOURCE: The Perth Mint

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