June 22 (Reuters) - The Perth Mint faces a federal parliament inquiry over allegations of having sold "doped" gold to China, the Australian Broadcasting Company (ABC) News said in a report on Thursday.
"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.
An ABC report in March said that the refiner might have to recall a potential $9 billion worth of diluted or "doped" one- kilogram gold bars sold to top consumer China.
The Perth Mint had responded that it had launched a review after it was made aware in September 2021 that some of its bars did not meet the specifications of the Shanghai Gold Exchange (SGE) and implemented processes to ensure these purity standards were met.
The London Bullion Market Association (LBMA) had also subsequently confirmed that the refiner would remain on its "Good Delivery List" of accredited refiners whose bars meet its standards for global trade. The Shanghai Gold Exchange (SGE) had also backed the company in denying the allegations.
On Thursday, the Australian Senate agreed to establish a committee to submit a report, by Dec. 13, into the Mint and its compliance with a range of Commonwealth laws and regulations.
Perth Mint could not be immediately reached for comment on the latest development. (Reporting by Seher Dareen in Bengaluru; editing by David Evans)
