Senate inquiry adds to scrutiny of Perth Mint fumbles
Andrew Brown |
A powerful parliamentary inquiry will examine multiple controversies facing the Perth Mint.
The inquiry, set up by WA Liberal senator Dean Smith, will investigate the mint’s compliance with money laundering and terror laws.
Earlier this year, it was revealed the mint sold gold to China between 2018 and 2021, which was alloyed with silver in order to save money.
The Shanghai Gold Exchange raised complaints about two gold bars that did not meet its strict specifications.
Concerns were also raised after a former bikie was able to buy $27,000 worth of gold with his driver’s licence.
The WA government-owned corporation was already being audited by financial regulator AUSTRAC.
The Senate voted 39 to 22 to set up the inquiry, against the wishes of the federal Labor government.
“We do not support a motion that’s driven by state politics that would disrespect and undermine due process,” Finance Minister Katy Gallagher told parliament.
“AUSTRAC and the WA government are taking these matters seriously, as we are.
“This motion will not only duplicate investigations, but also risks compromising these independent investigations.”
The WA opposition said it worked with its federal colleagues to bypass the state government after it failed to investigate the breaches.
“The WA Labor government refused to investigate matters concerning the Mint because of the possible implications for the former premier and minister for mines and petroleum,” Opposition Leader Shane Love said.
The WA government has earmarked $34 million to overhaul compliance within the Perth Mint and ordered a strategic review.
The Senate inquiry into the mint will hand down a report by December 13.
AAP
