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Chris Pearce

Parliamentary Secretary to the Treasurer

26 October 2004 - 3 December 2007

Media Release of 08/05/2007

NO. 018

ADDITIONAL FUNDING FOR THE ROYAL AUSTRALIAN MINT

The Royal Australian Mint (the Mint) will receive an additional $8.0 million over two years in the 2007-08 Budget. The Mint is responsible for the production of Australia’s circulating coins and last year alone, produced in excess of 630 million coins.

This funding will enable the Mint to enhance its internal security and safety procedures in circulating coin production and deliver Phase 1 of the associated information management system upgrade, which involves the development of a business case to identify the future operational requirements of the upgraded information management system.

Security risks associated with the production of circulating coins will be minimised through the procurement of automated materials handling and warehousing equipment. The associated upgrade of the RAM’s information management system will enable the Mint to track, monitor and reconcile coins at each stage of the production process.

This initiative will complement the funding of $41.2 million provided by the Government in the 2005-06 Budget for the refurbishment of the Mint building. All works are programmed to coincide with the Mint building refurbishment project and are scheduled to be completed by December 2008.

Contact: Conor O'Brien (02) 6277 2088