Australia to propose tax incentives for critical minerals
The proposed law will set up a tax incentive worth 10% of relevant processing and refining costs for 31 critical minerals.
Gold sales from Australia’s Perth Mint, which refines all the output in the world’s second-biggest producer of the precious metal, hit the highest level in four months last month, driven by a rally in prices that stimulated demand.
Sales of gold coins and minted bars rose to 39,405 ounces from 36,127 ounces in May and the most since February, according to data from the mint published by Reuters. In comparison, the mint sold 47,692 ounces in June last year.
US sales, instead, went downhill, with American Gold and Silver Eagle bullion coins dropping when compared to the same period in 2013. The decline for the silver comes as the US Mint recently lifted their allocation program, which had been limiting the number of coins authorized purchasers were able to order.
During June 2014, Silver Eagle sales reached 2,692,000 ounces. This amount was down from the prior month when sales were a more robust 3,988,500 ounces. The amount is down by 17.8% compared to the year ago period of June 2013 when sales were 3,275,000 ounces.
