QUESTION PERIOD — Finance
Royal Canadian Mint
May 5, 2026
Senator Moreau, according to The New York Times, the Royal Canadian Mint relied on the due diligence of a Texas supplier to verify that the gold supplied by the company was not linked to “. . . illegitimate nonstate armed groups.” However, this so-called North American-sourced traceable gold was a swirl of gold from multiple sources, including Colombian mines controlled by the Clan del Golfo drug cartel.
Why didn’t the Royal Canadian Mint ask for more detailed information when the audit of the Texas supplier identified Colombia?
Thank you for the question, Senator Galvez.
The government is aware of the journalistic investigation of the procurement process of the Royal Canadian Mint. The Royal Canadian Mint is a Crown corporation — you’re well aware of that — that operates at arm’s length from the government to ensure independence and impartiality from political involvement. The Royal Canadian Mint is actually conducting an investigation, and the government will support it in any way necessary to maintain its standard of responsible metal procurement.
Thank you for that answer.
Sourcing legally and ethically mined gold is vital to uphold human rights and dignity and to protect nature. When it is more profitable to illegally deforest an ecosystem, pollute rivers and seize territories by force to exploit them, there is an increased risk of illegitimate armed groups controlling critical mineral supplies.
How will the government ensure that the critical minerals coming to Canada are mined ethically and legally?
As I mentioned previously, the government is committed to ensuring we have metal procurement that is responsible. It is a good opportunity to know that there have been recent discoveries of important new gold deposits in Yukon and Newfoundland and Labrador, which could represent interesting revenue for the Royal Canadian Mint to ensure it procures ethically sourced Canadian gold.
