Today the Royal Australian Mint signed a new two year contract worth an estimated US $130 million with coin blank supplier Poongsan Corporation.
Poongsan is a Korean based company which specialises in the development and mass production of copper-based alloys and will supply the Mint with blanks which are used to create Australia’s coinage.
“I am happy to announce Poongsan as the winning tender and I hope this contract helps to further strengthen our international relationship with Korea” said Janine Murphy, Chief Executive Officer of the Royal Australian Mint.
The formal signing of the contract took place at the Department of Treasury. Janine Murphy and representatives from the Royal Australian Mint were joined by His Excellency Dr Kim Woo Sang, Ambassador of the Republic of Korea, Mr Jin Roy Ryu, Chief Executive Officer of Poongsan Corporation and other Poongsan representatives.
For more information about the Royal Australian Mint please visit www.ramint.gov.au.
For further details contact:
Royal Australian Mint
Phone: (02) 6202 6975