Royal Canadian Mint Reviews Gold Supply Chain

0:00The Royal Canadian Mint just kicked off a full review after claims that some of its gold traces back to Columbian mines run by drug cartels. A New York Times report dropped this week pointing fingers at the Klandell-Golfo cartel controlling those spots and the Mint wasted no time, suspending any refining from that supply chain. They got wind of it right away from the article and hit pause immediately. Turns out, before hitting Canada, the gold gets blended with American stuff by a Texas middleman. So the men had been treating the mix as pure north. American gold. Spotswoman Denim Perrin laid it out clear. Last year, they refined over 5 million ounces of rough gold and that mixed material made up just 5. Percent of the total. Folks are buzzing about supply chain ethics in the precious metals game. Now, the Mint's sticking deep into its whole operation, as they do regular checks on suppliers. If red flags pop up like this, they act fast to cut ties. This saga shows how global gold flows can get messy quick, but the Mint's on it keeping things clean moving forward.

1:05Local news powered by AI. This is Canada News Today.