Gold mining heavyweight Northern Star says troubled Perth Mint should stay in government hands.
Northern Star’s gold goes to the mint. It opposes a sale.| Northern Star Resources has lambasted moves to privatise The Perth Mint as the West Australian entity is hobbled by aThe WA government has floated the idea of selling the taxpayer-owned mint, which has been losing gold refining customers to Sydney-based ABC Refinery.
He said Northern Star, set to become the biggest ASX-listed gold miner once New York-traded Newmont completes its acquisition of Newcrest, had made its views clear to the WA government. “It’s more than a refinery role as we know and played such a big role in the state, and so I think for those reasons it should stay in State government hands,” he said.WA Mines Minister Bill Johnston announced in April that the government would spend $1 million on an independent review of Gold Corporation, which trades as The Perth Mint, and its ownership structure.
“The Gold Corporation works on very narrow profit margins. As a percentage of turnover, it’s about 0.15 per cent,” he said.Dealers on Wednesday, Mr Johnston did not rule out selling on the mint but described it as an “essential piece of infrastructure” for the WA gold industry.
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