Australias two official mints, The Royal Australian Mint and The Perth Mint, will produce the victory medals for the Sydney 2000 Olympic Games and the Sydney 2000 Paralympic Games.
The Minister for Financial Services & Regulation, Joe Hockey, said the mints were producing the Olympic medals free of charge as a donation to the Sydney 2000 Olympic Games.
"The Royal Australian Mint is extremely honoured to be involved in this prestigious project, which it views as the ultimate minting commission", the Minister said.
The Premier and Treasurer of Western Australia, Richard Court, said: "The Perth Mints involvement in minting the winners' medals gives Western Australia a prominent and enduring association with the Sydney 2000 Olympic Games and the Sydney 2000 Paralympic Games.
"I am sure that this involvement will provide added impetus to Western Australian athletes to strive for Olympic and Paralympic glory in 2000," he said.
The 6000 victory medals will be produced from silver donated by BHP Cannington in Queensland and gold donated by the Ophir 2000 Gold Project, a community-based organisation in mid-NSW.
The designers of the victory medals are yet to be announced.
The Royal Australian Mint and The Perth Mint are also partners in the Sydney 2000 Olympic Coin Program, a collection of 52 commemorative Olympic coins being released progressively between October 1997 and February 2000.