Blogs & Comment

Where the Mint’s gold likely went

Was the missing $15 million of gold at the Royal Canadian Mint really stolen? Thats the angle the media have played up. But therecent auditors report did suggest other possibilities that needed to be investigated. One of them was that the gold may have been lost through the refining process.
The culprit may indeed be the refining process whereby gold received by the Mint is melted down in crucibles and chlorine gas blown in to surface impurities ( Miller process). Today I learned from a person who has worked on the Mints refining process that about two years ago, the Mint had to replace its old electrostatic precipitators system due to corrosion. And this person seemed to have some doubts that the new system was as efficient at recovering gold particulate from the residue and effluent left behind when gold is melted down and blended with chlorine gas.