Astonishing claims emerge the Perth Mint sold up to $9B of dodgy gold to a Chinese exchange - as it's revealed the state-owned facility faces fraud and money laundering investigations and could be forced to pay the money back
Perth Mint was 'doping' or diluting its gold productShanghai Gold Exchange found some bars did not meet standardsThe mint allegedly already suspected this but kept it quiet
Up to $9billion worth of gold that the Perth Mint sold to China could be recalled after it was discovered some bars were diluted with other metals.
The WA government-owned mint, which is the largest refiner of newly mined gold in the world, started 'doping' its gold in 2018 - a process which involves mixing in silver or copper while still keeping the purity above 99.99 per cent.
While the product met widely accepted standards on the global gold market, up to 100 tonnes of bullion shipped to China potentially falls short of the more stringent standards of the Shanghai Gold Exchange (SGE).
Some of the gold the SGE tested from Perth Mint exceeded the allowable silver content.
Even more remarkably, when Perth Mint was caught out not meeting the SGE standards they allegedly tried to cover it up, concerned it could affect the mint's reputation, reports the ABC's Four Corners.
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