❓ Ms. Mettam questions the Premier about Gold Corporation's management and Mr. Walsh's involvement, particularly regarding gold dilution and money-laundering concerns. The Premier denies gold dilution, defends the Perth Mint's standards, and addresses AUSTRAC compliance issues.
AnsweredQoN 107Legislative Assembly
QuestionView source ↗
GOLD CORPORATION — GOLD BAR CONTENT
107. Ms L. METTAM to the Premier:
I refer to the board chair of Gold
Corporation, Mr Sam Walsh, and his refusal to answer questions put to him about
the ongoing mismanagement of the Perth Mint.
(1) Has the Premier sought a briefing
from Mr Walsh to understand what he knew and when?
(2) As Premier
and leader of the WA government, which oversees the operations of Gold Corp,
why will the Premier not demand that Mr Walsh front the media and clarify his
involvement in or knowledge of the issues plaguing Gold Corp, including the
money-laundering concerns and gold dilution?
107. Ms L. METTAM to the Premier:
I refer to the board chair of Gold
Corporation, Mr Sam Walsh, and his refusal to answer questions put to him about
the ongoing mismanagement of the Perth Mint.
(1) Has the Premier sought a briefing
from Mr Walsh to understand what he knew and when?
(2) As Premier
and leader of the WA government, which oversees the operations of Gold Corp,
why will the Premier not demand that Mr Walsh front the media and clarify his
involvement in or knowledge of the issues plaguing Gold Corp, including the
money-laundering concerns and gold dilution?
AnswerView source ↗
(1)–(2) Just
so it is completely clear, there has been no dilution of gold in any gold bars
from the Perth Mint—no dilution of gold.
Ms L. Mettam : There are
concerns.
Mr
M. McGOWAN : They are 99.99 per
cent gold. I just want to be accurate in the Parliament. We are dealing with international gold exchanges that watch everything that is said. Every bar of
gold is above international standards, which
is 99.99 per cent gold. In fact, the Perth Mint is one of the most respected
mints in the world because it meets those standards. I just think
members need to be very careful with the language they use so that they do not
send the wrong message to the international business community.
I think the second part of the
question related to Mr Walsh. It will be up to Mr Walsh what media he
undertakes. Obviously, I have answered every question put to me on multiple
occasions by the Western Australian media. I probably
do more press conferences than most people, and certainly more than most
Premiers over their time, so I answer the questions as they are put to me. I will
continue to do so about my knowledge and so forth of various matters.
In terms of the matters concerning
the Australian Transaction Reports and Analysis Centre, I am advised that the
AUSTRAC legislation was put in place in 2006. The noncompliance by the Mint with
those systems and processes was identified in 2021, and we invested $34 million
to repair that. In other words, over the last years of the then Labor
government—in 2006, 2007 and 2008—for the entirety of the
Barnett Liberal–National government and for the first five years of
this government, the systems and processes used by the Mint were not compliant
with the AUSTRAC laws. When it was identified, or brought to attention, I
think it was last year, we announced a $ 34 million investment in
computer systems and staff to make sure that we do. I think there were an
additional 50 staff or thereabouts employed. That issue has been in place over
multiple Liberal and Labor governments. When it was brought to our attention,
we invested the money to fix it.
so it is completely clear, there has been no dilution of gold in any gold bars
from the Perth Mint—no dilution of gold.
Ms L. Mettam : There are
concerns.
Mr
M. McGOWAN : They are 99.99 per
cent gold. I just want to be accurate in the Parliament. We are dealing with international gold exchanges that watch everything that is said. Every bar of
gold is above international standards, which
is 99.99 per cent gold. In fact, the Perth Mint is one of the most respected
mints in the world because it meets those standards. I just think
members need to be very careful with the language they use so that they do not
send the wrong message to the international business community.
I think the second part of the
question related to Mr Walsh. It will be up to Mr Walsh what media he
undertakes. Obviously, I have answered every question put to me on multiple
occasions by the Western Australian media. I probably
do more press conferences than most people, and certainly more than most
Premiers over their time, so I answer the questions as they are put to me. I will
continue to do so about my knowledge and so forth of various matters.
In terms of the matters concerning
the Australian Transaction Reports and Analysis Centre, I am advised that the
AUSTRAC legislation was put in place in 2006. The noncompliance by the Mint with
those systems and processes was identified in 2021, and we invested $34 million
to repair that. In other words, over the last years of the then Labor
government—in 2006, 2007 and 2008—for the entirety of the
Barnett Liberal–National government and for the first five years of
this government, the systems and processes used by the Mint were not compliant
with the AUSTRAC laws. When it was identified, or brought to attention, I
think it was last year, we announced a $ 34 million investment in
computer systems and staff to make sure that we do. I think there were an
additional 50 staff or thereabouts employed. That issue has been in place over
multiple Liberal and Labor governments. When it was brought to our attention,
we invested the money to fix it.
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