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Royal Canadian Mint Loses Millions of Dollars of Precious Metal
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by cyn.khoo | June 11, 2009 at 04:36 pm
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The Royal Canadian Mint "lost track" of millions of dollars of precious metal from its Ottawa River facility in March 2009, the Canadian government has recently revealed. The RCMP has been called in to investigate what may be an unprecedented "gold heist".
According to mint minister Rob Merrifield, an audit into the discrepancy of missing millions between financial records and physical precious metal in storage will be made public after completion.
“The mint has lost track of precious metal, and that is why we brought in an external audit,” Mr. Merrifield said in the House. “[Yesterday] morning I found out that the mint will not be able to reconcile all of the missing money with the audit. I have instructed the mint to bring in the RCMP to examine this matter in a fulsome way.”
Opposition leaders and members of Parliament, such Liberal MP Joe Volpe and NDP member Thomas Mulcair, expressed shock and outrage that the Harper government discovered the loss in March, yet waited until now to reveal the matter.
Liberal MP Joe Volpe said he was astounded to find out that government officials first had questions in March about the potential disappearance of precious metals, accusing them of mismanaging the matter. [...]
“One would think that if there was one place where the government could hold onto our treasures, it's at the mint,” NDP MP Thomas Mulcair said, accusing the government of trying to minimize the situation.
Canada has suffered previous thefts and losses of gold, but none on the scale of the current loss.
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