Perth Mint ‘tests out’ Indian gold import excise rort
By GCRU Gold News on Friday, October 14 2016, 22:32 - Permalink
The Perth Mint sent an estimated $1 billion worth of gold to India for refining without the apparent consent of its Australian customers, with the West Australian government-owned refiner being dragged into a court case examining the alleged rorting of an Indian excise rebate scheme.
The Weekend Australian can reveal that the Mint arranged for semi-refined gold — or dore — from its mining customers to be sold to a third party for export into India to “test out” an Indian excise scheme. This is despite the Mint having earlier complained to the Indian and Australian governments about the “unfairness” of the excise discount.