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Perth Mint faces LBMA review over gold 'doping' charge
By Deep Vakil
Reuters
Thursday, March 9, 2023
The London Bullion Market Association, the top accreditor of gold refiners, said today it was reviewing allegations that Perth Mint had sold "doped" gold to China.
An Australian media report Monday said Perth Mint, the largest processor of newly mined gold, may have to recall a potential $9 billion worth of diluted or "doped" 1-kilogram gold bars sold to top consumer China.
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The Australian gold refiner, a member of the LBMA, rejected those allegations Tuesday, saying there was no question about the value and purity of gold bars it had sold to customers in China, after it implemented new procedures following a 2021 review of its refining practices.
"Doping" or "alloying" is an industry-wide accepted practice to minimise the amount of pure gold above the 99.99% purity level in each bar. ...
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