Big error behind missing gold at Royal Canadian Mint

CTV
November 25, 2009

[efoods]RCMP have solved a bizarre mystery: How did $15.3 million in gold vanish from the Royal Canadian Mint? And while their report is still two weeks away, CTV News has learned the answer.

“Senior government officials say there was a colossal error at the mint itself,” said CTV Ottawa Bureau Chief Robert Fife on Tuesday night.

Mint officials double-counted some gold bullion they sold, and also underestimated the shrinkage of the gold during processing.

The federal government had withheld bonuses for mint executives until the mystery was solved. It’s unclear whether those bonuses will still be paid out.

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