Viewing entries tagged
commodity
Since the gold rushes of the 1850s Australia’s gold industry has been making a vital contribution to the country’s economic prosperity, generating wealth and underpinning global production. Moreover it is the lifeblood of many regional communities, creating jobs and educational opportunities, while providing vital infrastructure and boosting tourism.
The Deloitte WA Index’s gold report is a tale of two decades, covering gold’s transition from Y2K to the COVID-19 pandemic and everything in between.
Discover how the same asset that was used to support various monetary systems around the globe in the 20th century remains a key element in today’s economic tapestry, with its intrinsic value and ability to weather market declines, rising inflation and depreciation of currency.
We recently spoke to Nishan Kodituwakku, Deputy Treasurer at ABC Refinery, about his finance journey in Australia’s gold industry and gold’s value in protecting wealth during times of uncertainty.
Global leader in precious metals The Perth Mint has joined with leading-edge technology specialists Security Matters Ltd to develop the world’s first mine to market ethical gold supply chain assurance solution.
Titled trueGold, the initiative will lead the commercialisation of a worldwide integrity application for gold mining companies, refiners, vault operators, depositories, mints, wholesalers and retailers.
InfiniGold have announced the launch of the Perth Mint Gold Token (PMGT), the first digital gold token on a public blockchain to be backed by government guaranteed gold.
The Perth Mint Gold Token (PMGT) is a digital token backed 1:1 by GoldPass™ certificates issued by The Perth Mint - the world’s largest refiner of newly-mined gold which is guaranteed by the highly rated sovereign entity, the Government of Western Australia.
Australia’s gold exports are forecast to hit a record high of AUD $25 billion in 2019-20 according to the Department of Industry, Innovation and Science’s September edition of Resources and Energy Quarterly (REQ).
The September REQ shows Australia remains the world’s second largest producer of gold, with production increasing by 6.3% in FY 2018–19 to 321 tonnes, equating to 9% of the world’s total supply in 2018.
