Government of Canada

Government of Canada

June 29, 2009 17:44 ET

Joint Statement by Canada's Transport Minister, John Baird, and Minister of State (Transport) Rob Merrifield in Response to the Release of the Third Party Review...

...of Precious Metals Inventory Reconciliation

OTTAWA, ONTARIO--(Marketwire - June 29, 2009) - The Mint's still unexplained loss of precious metals is inexcusable. The Mint will be held accountable.

We have ordered the Mint to call in the Royal Canadian Mounted Police and instructed the Mint to immediately commission an independent and comprehensive review of security procedures.

The RCMP investigation is ongoing.

Going forward, the Mint will be required to report on inventory levels of all precious metals on a quarterly basis.

We have instructed the board to withhold all bonuses payable to executives until this matter is resolved to our satisfaction.

Our government is committed to effective governance and accountability to Canadians.

A copy of the third party review is available at: http://www.mint.ca/store/mint/about-the-mint/precious-metals-reconciliation-3800004

Contact Information

  • Chris Day
    Press Secretary
    Office of Canada's Transport Minister,
    John Baird, Ottawa
    613-991-0700
    or
    Chris Hilton
    Office of Minister of State (Transport)
    Rob Merrifield, Ottawa
    613-991-0700